Alley Investment Management Company LLC Has $16.29 Million Stock Holdings in Chevron Co. (NYSE:CVX)

Alley Investment Management Company LLC lifted its stake in shares of Chevron Co. (NYSE:CVX) by 4.1% during the fourth quarter, Holdings Channel reports. The firm owned 112,499 shares of the oil and gas company’s stock after purchasing an additional 4,467 shares during the quarter. Chevron makes up approximately 2.1% of Alley Investment Management Company LLC’s portfolio, making the stock its 19th largest holding. Alley Investment Management Company LLC’s holdings in Chevron were worth $16,294,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Commerzbank Aktiengesellschaft FI raised its position in shares of Chevron by 383.7% during the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 519,200 shares of the oil and gas company’s stock worth $75,201,000 after purchasing an additional 411,859 shares during the period. Patten Group Inc. raised its position in Chevron by 0.6% during the fourth quarter. Patten Group Inc. now owns 24,389 shares of the oil and gas company’s stock valued at $3,533,000 after buying an additional 144 shares during the period. Scott & Selber Inc. raised its position in Chevron by 1.2% during the fourth quarter. Scott & Selber Inc. now owns 13,451 shares of the oil and gas company’s stock valued at $1,948,000 after buying an additional 157 shares during the period. Alta Capital Management LLC raised its position in Chevron by 6.4% during the fourth quarter. Alta Capital Management LLC now owns 38,672 shares of the oil and gas company’s stock valued at $5,601,000 after buying an additional 2,341 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in Chevron by 2.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 31,855,566 shares of the oil and gas company’s stock valued at $4,613,960,000 after buying an additional 746,806 shares during the period. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Price Performance

Shares of NYSE:CVX opened at $153.05 on Tuesday. The business has a 50 day moving average price of $153.35 and a 200 day moving average price of $151.58. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11. The company has a market cap of $269.46 billion, a price-to-earnings ratio of 15.75, a PEG ratio of 1.46 and a beta of 1.11. 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 announced 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 period in the prior year, the company posted $3.45 EPS. Research analysts predict that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be issued a $1.71 dividend. This is a boost from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date is Friday, February 14th. This represents a $6.84 annualized dividend and a yield of 4.47%. Chevron’s dividend payout ratio is 70.37%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Barclays dropped their price target on Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. Piper Sandler dropped their price target on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. UBS Group dropped their target price on Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a research report on Monday, February 3rd. Wells Fargo & Company dropped their target price on Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Finally, Citigroup raised Chevron from a “neutral” rating to a “buy” rating and upped their target price for the stock from $145.00 to $185.00 in a research report on Tuesday, November 26th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $174.13.

Insider Buying and Selling at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the company’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 transaction, the vice president now owns 1,057 shares of the company’s stock, valued at $161,192.50. This represents a 89.82 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.20% of the company’s stock.

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.