Alpha Financial Partners LLC Raises Holdings in Chevron Co. (NYSE:CVX)

Alpha Financial Partners LLC grew its position in shares of Chevron Co. (NYSE:CVX) by 13.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,452 shares of the oil and gas company’s stock after purchasing an additional 171 shares during the period. Alpha Financial Partners LLC’s holdings in Chevron were worth $217,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Picton Mahoney Asset Management purchased a new position in shares of Chevron during the third quarter valued at about $26,000. Valley Forge Investment Consultants Inc. ADV grew its position in Chevron by 80.0% in the third quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock worth $30,000 after acquiring an additional 80 shares in the last quarter. DHJJ Financial Advisors Ltd. purchased a new position in Chevron in the third quarter worth about $35,000. Valued Wealth Advisors LLC purchased a new position in Chevron in the fourth quarter worth about $33,000. Finally, Worth Asset Management LLC purchased a new position in Chevron in the first quarter worth about $36,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Stock Down 1.8 %

Shares of NYSE CVX opened at $158.96 on Friday. Chevron Co. has a 12-month low of $139.62 and a 12-month high of $172.88. The stock has a market cap of $295.23 billion, a PE ratio of 13.99, a P/E/G ratio of 2.44 and a beta of 1.12. The company has a current ratio of 1.27, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. The company has a 50-day moving average of $154.92 and a 200 day moving average of $152.25.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share for the quarter, topping analysts’ consensus estimates of $3.19 by $0.26. The firm had revenue of $47.18 billion during the quarter, compared to analysts’ expectations of $50.93 billion. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The firm’s quarterly revenue was down 16.5% on a year-over-year basis. During the same quarter last year, the company posted $4.09 EPS. As a group, sell-side analysts predict that Chevron Co. will post 13.24 EPS for the current fiscal year.

Chevron Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Friday, February 16th were issued a dividend of $1.63 per share. The ex-dividend date of this dividend was Thursday, February 15th. This is a positive change from Chevron’s previous quarterly dividend of $1.51. This represents a $6.52 dividend on an annualized basis and a yield of 4.10%. Chevron’s dividend payout ratio is 57.39%.

Insider Buying and Selling

In other news, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total value of $448,252.00. Following the sale, the vice president now owns 276 shares of the company’s stock, valued at $44,184.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.18% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

CVX has been the subject of several recent research reports. Jefferies Financial Group upgraded Chevron from a “hold” rating to a “buy” rating and set a $184.00 price target for the company in a research report on Monday, January 8th. UBS Group lifted their price target on Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a research report on Tuesday. Truist Financial dropped their price target on Chevron from $168.00 to $156.00 and set a “hold” rating for the company in a research report on Friday, April 5th. Scotiabank upgraded Chevron from a “sector perform” rating to a “sector outperform” rating and lifted their price target for the stock from $170.00 to $195.00 in a research report on Thursday. Finally, Mizuho raised their price objective on shares of Chevron from $195.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $183.60.

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.