Allworth Financial LP Purchases 80,428 Shares of Chevron Co. (NYSE:CVX)

Allworth Financial LP lifted its holdings in shares of Chevron Co. (NYSE:CVX - Free Report) by 31.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 339,868 shares of the oil and gas company's stock after acquiring an additional 80,428 shares during the period. Allworth Financial LP's holdings in Chevron were worth $53,159,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. State Street Corp increased its position in shares of Chevron by 0.6% during the third 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. Charles Schwab Investment Management Inc. boosted its holdings in shares of Chevron by 11.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 31,108,760 shares of the oil and gas company's stock worth $4,581,137,000 after acquiring an additional 3,203,899 shares during the period. Fisher Asset Management LLC boosted its stake in Chevron by 3.6% in the 3rd quarter. Fisher Asset Management LLC now owns 19,482,388 shares of the oil and gas company's stock worth $2,869,171,000 after purchasing an additional 672,244 shares during the period. Franklin Resources Inc. grew its holdings in Chevron by 3.4% during the 3rd quarter. Franklin Resources Inc. now owns 17,200,188 shares of the oil and gas company's stock valued at $2,610,645,000 after buying an additional 573,218 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Chevron by 1.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,790,856 shares of the oil and gas company's stock valued at $1,147,359,000 after buying an additional 138,496 shares during the period. 72.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on CVX. Wells Fargo & Company cut their price target on shares of Chevron from $188.00 to $184.00 and set an "overweight" rating for the company in a report on Monday, February 3rd. DZ Bank upgraded Chevron from a "hold" rating to a "buy" rating and set a $170.00 target price for the company in a research report on Tuesday, November 5th. UBS Group lowered 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. Raymond James decreased their price objective on shares of Chevron from $180.00 to $175.00 and set an "outperform" rating on the stock in a research report on Monday, February 3rd. Finally, Royal Bank of Canada reiterated an "outperform" rating and set a $175.00 target price on shares of Chevron in a research report on Monday, February 3rd. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, Chevron presently has a consensus rating of "Moderate Buy" and an average price target of $174.13.

Insider Buying and Selling

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of Chevron 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. The trade was a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.20% of the stock is owned by insiders.

Chevron Trading Up 0.6 %

Shares of NYSE CVX traded up $0.98 during trading hours on Wednesday, hitting $157.14. The company's stock had a trading volume of 4,943,291 shares, compared to its average volume of 7,423,915. 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 quick ratio of 0.80 and a current ratio of 1.07. The business has a 50-day simple moving average of $151.80 and a 200-day simple moving average of $150.81. The stock has a market cap of $282.39 billion, a price-to-earnings ratio of 16.17, a P/E/G ratio of 1.43 and a beta of 1.11.

Chevron (NYSE:CVX - Get Free Report) last announced its earnings results on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing analysts' consensus estimates 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 prior year, the company posted $3.45 EPS. On average, analysts anticipate that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 4.35%. This is a boost from Chevron's previous quarterly dividend of $1.63. The ex-dividend date is Friday, February 14th. Chevron's payout ratio 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.