Atlantic Family Wealth LLC Invests $286,000 in Chevron Co. (NYSE:CVX)

Atlantic Family Wealth LLC acquired a new position in shares of Chevron Co. (NYSE:CVX) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 1,976 shares of the oil and gas company’s stock, valued at approximately $286,000. Chevron makes up about 0.3% of Atlantic Family Wealth LLC’s portfolio, making the stock its 27th largest position.

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

Insider Activity at Chevron

In related news, VP Jeff B. Gustavson sold 9,325 shares of the firm’s stock in a transaction dated 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 sale, the vice president now owns 1,057 shares of the company’s stock, valued at $161,192.50. This trade represents a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Raymond James decreased their price target on Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a report on Monday, February 3rd. UBS Group decreased their price target on Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a report on Monday, February 3rd. Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and increased their price target for the company from $145.00 to $185.00 in a report on Tuesday, November 26th. 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. Finally, Royal Bank of Canada restated an “outperform” rating and set a $175.00 price target on shares of Chevron in a report on Monday, February 3rd. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Chevron currently has an average rating of “Moderate Buy” and a consensus price target of $174.13.

Chevron Price Performance

CVX opened at $156.92 on Friday. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11. 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 business’s fifty day simple moving average is $151.97 and its 200-day simple moving average is $151.05. The company has a market capitalization of $282.00 billion, a price-to-earnings ratio of 16.14, a PEG ratio of 1.46 and a beta of 1.11.

Chevron (NYSE:CVX) last posted 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 prior year, the company posted $3.45 EPS. On average, equities research analysts anticipate that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors 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 represents a $6.84 dividend on an annualized basis and a yield of 4.36%. This is an increase from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio (DPR) is presently 70.37%.

Chevron Company 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.