Advyzon Investment Management LLC Purchases New Shares in Chevron Co. (NYSE:CVX)

Advyzon Investment Management LLC acquired a new position in Chevron Co. (NYSE:CVX) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 3,747 shares of the oil and gas company’s stock, valued at approximately $543,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CVX. Allspring Global Investments Holdings LLC boosted its position 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 worth $32,924,000 after purchasing an additional 27,483 shares in the last quarter. Xcel Wealth Management LLC raised its stake in Chevron by 3.3% during the third quarter. Xcel Wealth Management LLC now owns 4,048 shares of the oil and gas company’s stock valued at $596,000 after buying an additional 131 shares during the last quarter. Eastern Bank boosted its holdings in Chevron by 82.2% in the third quarter. Eastern Bank now owns 256,979 shares of the oil and gas company’s stock worth $37,845,000 after acquiring an additional 115,927 shares in the last quarter. Pegasus Asset Management Inc. grew its stake in shares of Chevron by 0.6% in the third quarter. Pegasus Asset Management Inc. now owns 28,829 shares of the oil and gas company’s stock worth $4,246,000 after acquiring an additional 169 shares during the last quarter. Finally, Hofer & Associates. Inc increased its holdings in shares of Chevron by 9.1% during the third quarter. Hofer & Associates. Inc now owns 1,652 shares of the oil and gas company’s stock valued at $243,000 after acquiring an additional 138 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Stock Up 0.6 %

NYSE CVX opened at $157.14 on Thursday. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.11. The company has a market capitalization of $282.39 billion, a P/E ratio of 16.17, a price-to-earnings-growth ratio of 1.43 and a beta of 1.11. The stock’s 50-day moving average price is $151.82 and its 200-day moving average price is $150.85. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (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 business posted $3.45 earnings per share. On average, equities research analysts predict that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be issued a $1.71 dividend. The ex-dividend date of this dividend is Friday, February 14th. 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 4.35%. Chevron’s payout ratio is currently 70.37%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CVX. Piper Sandler dropped their target price on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $175.00 price objective on shares of Chevron in a research report on Monday, February 3rd. Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and increased their target price for the company from $145.00 to $185.00 in a research note on Tuesday, November 26th. Wells Fargo & Company lowered their price target on Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Finally, UBS Group reduced their price objective on Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a report on Monday, February 3rd. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $174.13.

Insiders Place Their Bets

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the business’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $152.50, for a total value of $1,422,062.50. Following the sale, the vice president now owns 1,057 shares in the company, valued at $161,192.50. The trade was a 89.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.20% of the stock is currently owned by corporate insiders.

About Chevron

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.