Atlas Capital Advisors Inc. Invests $217,000 in Chevron Co. (NYSE:CVX)

Atlas Capital Advisors Inc. bought a new stake in Chevron Co. (NYSE:CVX) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 1,500 shares of the oil and gas company’s stock, valued at approximately $217,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Uniting Wealth Partners LLC purchased a new position in Chevron in the fourth quarter valued at approximately $791,000. DF Dent & Co. Inc. increased its position in shares of Chevron by 2.4% in the fourth quarter. DF Dent & Co. Inc. now owns 10,460 shares of the oil and gas company’s stock worth $1,515,000 after acquiring an additional 246 shares in the last quarter. Grant Private Wealth Management Inc purchased a new position in shares of Chevron in the 4th quarter valued at $289,000. Allen Wealth Management LLC lifted its holdings in shares of Chevron by 2.2% during the 4th quarter. Allen Wealth Management LLC now owns 27,649 shares of the oil and gas company’s stock valued at $4,005,000 after acquiring an additional 582 shares in the last quarter. Finally, Arete Wealth Advisors LLC boosted its position in Chevron by 28.0% during the 4th quarter. Arete Wealth Advisors LLC now owns 20,620 shares of the oil and gas company’s stock worth $2,987,000 after purchasing an additional 4,508 shares during the period. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Chevron

In related news, VP Jeff B. Gustavson sold 9,325 shares of the firm’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 sale, the vice president now owns 1,057 shares of the company’s stock, valued at approximately $161,192.50. This trade represents a 89.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.20% of the stock is currently owned by insiders.

Chevron Price Performance

Shares of NYSE CVX opened at $143.10 on Friday. 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 company has a market capitalization of $251.95 billion, a price-to-earnings ratio of 14.72, a price-to-earnings-growth ratio of 1.46 and a beta of 0.93. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $168.96. The business has a 50 day simple moving average of $157.38 and a 200-day simple moving average of $154.10.

Chevron (NYSE:CVX) last released its earnings results 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 net margin of 8.71% and a return on equity of 11.44%. During the same quarter in the prior year, the business posted $3.45 EPS. As a group, equities research analysts expect that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were issued a $1.71 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a yield of 4.78%. This is a boost from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio (DPR) is currently 70.37%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Piper Sandler reduced their price objective on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Barclays decreased their price target on Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. UBS Group dropped their price objective on shares of Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd. Raymond James decreased their target price on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research note on Monday, February 3rd. Finally, Wells Fargo & Company cut their price target on Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target 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.