Chevron Co. (NYSE:CVX) Shares Purchased by Allied Investment Advisors LLC

Allied Investment Advisors LLC raised its holdings in Chevron Co. (NYSE:CVX) by 2.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 76,107 shares of the oil and gas company’s stock after buying an additional 1,571 shares during the quarter. Chevron makes up approximately 2.2% of Allied Investment Advisors LLC’s holdings, making the stock its 19th largest holding. Allied Investment Advisors LLC’s holdings in Chevron were worth $11,023,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Allspring Global Investments Holdings LLC boosted its holdings in shares of Chevron by 14.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 223,561 shares of the oil and gas company’s stock valued at $32,924,000 after purchasing an additional 27,483 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted its holdings in Chevron by 1.5% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 183,558 shares of the oil and gas company’s stock valued at $27,032,000 after acquiring an additional 2,671 shares during the last quarter. Plimoth Trust Co. LLC increased its stake in Chevron by 0.5% during the third quarter. Plimoth Trust Co. LLC now owns 38,533 shares of the oil and gas company’s stock worth $5,675,000 after acquiring an additional 199 shares during the last quarter. Community Financial Services Group LLC raised its holdings in shares of Chevron by 3.4% in the 3rd quarter. Community Financial Services Group LLC now owns 14,320 shares of the oil and gas company’s stock worth $2,109,000 after purchasing an additional 473 shares during the period. Finally, Waterway Wealth Management LLC lifted its stake in shares of Chevron by 5.3% in the 3rd quarter. Waterway Wealth Management LLC now owns 7,077 shares of the oil and gas company’s stock valued at $1,042,000 after purchasing an additional 358 shares in the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Piper Sandler dropped their target price on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Wells Fargo & Company cut their target price on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. UBS Group lowered their price target on Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a report on Monday, February 3rd. Truist Financial reduced their price objective on Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a research note on Tuesday, February 4th. Finally, DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price for the company in a research note on Tuesday, November 5th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $174.13.

Chevron Stock Up 0.6 %

CVX stock opened at $156.23 on Wednesday. The company has a market capitalization of $280.76 billion, a P/E ratio of 16.07, a PEG ratio of 1.43 and a beta of 1.11. The firm has a 50 day simple moving average of $151.80 and a 200-day simple moving average of $150.81. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 earnings per share for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a return on equity of 11.44% and a net margin of 8.71%. During the same quarter last year, the business earned $3.45 EPS. On average, equities research analysts predict that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be paid a dividend of $1.71 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.84 annualized dividend and a yield of 4.38%. This is a boost from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio is presently 70.37%.

Insiders Place Their Bets

In other news, VP Jeff B. Gustavson sold 9,325 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $152.50, for a total value of $1,422,062.50. Following the completion of the sale, the vice president now directly owns 1,057 shares in the company, valued at approximately $161,192.50. The trade was a 89.82 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.20% of the stock is currently owned by company insiders.

Chevron Company Profile

Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production, and transportation of crude oil and natural gas; processing, liquefaction, transportation, and regasification of liquefied natural gas; transportation of crude oil through pipelines; transportation, storage, and marketing of natural gas; and carbon capture and storage, as well as a gas-to-liquids plant.