Chevron Co. (NYSE:CVX) Position Increased by Allen Wealth Management LLC

Allen Wealth Management LLC boosted its position in shares of Chevron Co. (NYSE:CVX) by 2.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 27,649 shares of the oil and gas company’s stock after acquiring an additional 582 shares during the period. Chevron comprises 2.9% of Allen Wealth Management LLC’s investment portfolio, making the stock its 6th biggest holding. Allen Wealth Management LLC’s holdings in Chevron were worth $4,005,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Allianz SE acquired a new stake in Chevron in the fourth quarter valued at $9,369,000. State Street Corp increased its holdings in shares of Chevron by 0.6% in the 3rd quarter. State Street Corp now owns 159,105,244 shares of the oil and gas company’s stock valued at $23,431,429,000 after acquiring an additional 874,962 shares during the last quarter. Nicholas Company Inc. raised its position in shares of Chevron by 4.3% during the 4th quarter. Nicholas Company Inc. now owns 80,025 shares of the oil and gas company’s stock worth $11,591,000 after acquiring an additional 3,280 shares in the last quarter. Dale Q Rice Investment Management Ltd purchased a new stake in Chevron during the fourth quarter worth approximately $594,000. Finally, Unified Investment Management purchased a new position in Chevron in the fourth quarter valued at approximately $729,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CVX. UBS Group reduced their price objective on shares of Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a research report on Monday, February 3rd. Barclays reduced their price target on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a research report on Wednesday, February 5th. Piper Sandler dropped their price objective on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Truist Financial reduced their target price on Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a report on Tuesday, February 4th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $175.00 price target on shares of Chevron in a research note on Monday, February 3rd. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $174.13.

Insiders Place Their Bets

In other news, VP Jeff B. Gustavson sold 9,325 shares of the company’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the transaction, the vice president now directly 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 document filed with the SEC, which is available through this hyperlink. 0.20% of the stock is currently owned by company insiders.

Chevron Stock Performance

Shares of CVX opened at $166.62 on Thursday. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $168.96. The stock has a market capitalization of $293.35 billion, a P/E ratio of 17.14, a P/E/G ratio of 1.46 and a beta of 1.08. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The company’s fifty day moving average is $157.63 and its two-hundred day moving average is $154.08.

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 the consensus estimate 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 quarter in the previous year, the firm earned $3.45 EPS. On average, sell-side analysts predict that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were paid a $1.71 dividend. The ex-dividend date of this dividend was Friday, February 14th. This is an increase from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.11%. Chevron’s payout ratio is 70.37%.

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.