Private Advisor Group LLC Purchases 155,798 Shares of Chevron Co. (NYSE:CVX)

Private Advisor Group LLC lifted its position in shares of Chevron Co. (NYSE:CVX) by 65.2% in the 4th quarter, Holdings Channel reports. The fund owned 394,608 shares of the oil and gas company’s stock after buying an additional 155,798 shares during the quarter. Private Advisor Group LLC’s holdings in Chevron were worth $57,155,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Life Planning Partners Inc bought a new position in Chevron in the 4th quarter worth about $25,000. Rational Advisors LLC bought a new position in Chevron in the 3rd quarter worth about $29,000. Legacy Investment Solutions LLC bought a new position in Chevron in the 3rd quarter worth about $29,000. Darwin Wealth Management LLC bought a new position in Chevron in the 3rd quarter worth about $30,000. Finally, RPg Family Wealth Advisory LLC bought a new position in Chevron in the 3rd quarter worth about $31,000. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

Shares of NYSE CVX opened at $156.23 on Wednesday. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The stock’s 50-day moving average is $151.80 and its 200 day moving average is $150.81. The stock has a market cap of $280.76 billion, a price-to-earnings ratio of 16.07, a P/E/G ratio of 1.43 and a beta of 1.11. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing analysts’ consensus estimates 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 period in the previous year, the firm earned $3.45 earnings per share. On average, sell-side analysts anticipate that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be paid a $1.71 dividend. This is a boost from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a yield of 4.38%. The ex-dividend date of this dividend is Friday, February 14th. Chevron’s payout ratio is 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 transaction of $1,422,062.50. Following the transaction, the vice president now directly owns 1,057 shares of the company’s stock, valued at approximately $161,192.50. The trade was a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on CVX shares. Wells Fargo & Company cut their target price on Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. UBS Group dropped their price target on Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a research report on Monday, February 3rd. Truist Financial dropped their price target on Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research report on Tuesday, February 4th. Raymond James dropped their price target on Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research report on Monday, February 3rd. Finally, Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and lifted their price target for the company from $145.00 to $185.00 in a research report on Tuesday, November 26th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, Chevron has a consensus rating of “Moderate Buy” and a consensus target price of $174.13.

Chevron 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.