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

Private Advisor Group LLC grew its holdings in shares of Chevron Co. (NYSE:CVX) by 65.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 394,608 shares of the oil and gas company’s stock after buying an additional 155,798 shares during the period. Private Advisor Group LLC’s holdings in Chevron were worth $57,155,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of CVX. Life Planning Partners Inc bought a new position in shares of Chevron during the 4th quarter worth approximately $25,000. Rational Advisors LLC bought a new position in shares of Chevron during the 3rd quarter worth approximately $29,000. Legacy Investment Solutions LLC bought a new position in shares of Chevron during the 3rd quarter worth approximately $29,000. Darwin Wealth Management LLC bought a new position in shares of Chevron during the 3rd quarter worth approximately $30,000. Finally, RPg Family Wealth Advisory LLC bought a new position in shares of Chevron during the 3rd quarter worth approximately $31,000. 72.42% of the stock is currently owned by institutional investors.

Chevron Trading Up 0.6 %

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

Chevron (NYSE:CVX) last announced its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) 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 previous year, the business earned $3.45 EPS. Equities research analysts anticipate that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be given a dividend of $1.71 per share. The ex-dividend date is Friday, February 14th. This is a positive change from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a dividend yield of 4.38%. Chevron’s dividend payout ratio (DPR) is currently 70.37%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target on the stock in a report on Tuesday, November 5th. Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and increased their target price for the stock from $145.00 to $185.00 in a report on Tuesday, November 26th. Barclays cut their target price on Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Raymond James cut their target price on Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a report on Monday, February 3rd. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $175.00 target price on shares of Chevron in a report on Monday, February 3rd. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $174.13.

Insider Activity

In other news, VP Jeff B. Gustavson sold 9,325 shares of the stock in a transaction 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 completion of the transaction, the vice president now owns 1,057 shares in the company, valued at approximately $161,192.50. This represents a 89.82 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.20% of the company’s stock.

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.