Chevron Co. (NYSE:CVX) Position Boosted by Alley Investment Management Company LLC

Alley Investment Management Company LLC lifted its stake in shares of Chevron Co. (NYSE:CVX) by 4.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 112,499 shares of the oil and gas company’s stock after purchasing an additional 4,467 shares during the period. Chevron comprises about 2.1% of Alley Investment Management Company LLC’s investment portfolio, making the stock its 19th biggest holding. Alley Investment Management Company LLC’s holdings in Chevron were worth $16,294,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Life Planning Partners Inc bought a new position in shares of Chevron during the fourth quarter worth about $25,000. Rational Advisors LLC bought a new position in shares of Chevron during the third quarter worth about $29,000. Legacy Investment Solutions LLC bought a new position in shares of Chevron during the third quarter worth about $29,000. Darwin Wealth Management LLC bought a new position in shares of Chevron during the third quarter worth about $30,000. Finally, RPg Family Wealth Advisory LLC bought a new position in shares of Chevron during the third quarter worth about $31,000. Institutional investors own 72.42% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $175.00 target price on shares of Chevron in a report on Monday, February 3rd. Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $145.00 to $185.00 in a research note on Tuesday, November 26th. Truist Financial dropped their target price on Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a research report on Tuesday, February 4th. DZ Bank raised shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target for the company in a report on Tuesday, November 5th. Finally, Piper Sandler dropped their price objective on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, Chevron currently has an average rating of “Moderate Buy” and a consensus price target of $174.13.

Chevron Trading Down 3.5 %

Chevron stock opened at $153.05 on Tuesday. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The stock has a market capitalization of $269.46 billion, a PE ratio of 15.75, a price-to-earnings-growth ratio of 1.46 and a beta of 1.11. The firm has a 50 day simple moving average of $153.35 and a 200-day simple moving average of $151.58.

Chevron (NYSE:CVX) last issued 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 net margin of 8.71% and a return on equity of 11.44%. During the same period last year, the firm earned $3.45 EPS. As a group, equities research analysts expect that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The firm 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 represents a $6.84 dividend on an annualized basis and a yield of 4.47%. This is an increase from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date is Friday, February 14th. Chevron’s dividend payout ratio is presently 70.37%.

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 sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.20% of the company’s stock.

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.