Private Advisor Group LLC Grows Position in Chevron Co. (NYSE:CVX)

Private Advisor Group LLC boosted its stake in Chevron Co. (NYSE:CVX - Free Report) by 65.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 394,608 shares of the oil and gas company's stock after acquiring an additional 155,798 shares during the quarter. Private Advisor Group LLC's holdings in Chevron were worth $57,155,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Life Planning Partners Inc acquired a new stake in Chevron during the 4th quarter worth $25,000. Rational Advisors LLC acquired a new stake in Chevron during the 3rd quarter worth $29,000. Legacy Investment Solutions LLC acquired a new stake in Chevron during the 3rd quarter worth $29,000. Darwin Wealth Management LLC acquired a new stake in Chevron during the 3rd quarter worth $30,000. Finally, RPg Family Wealth Advisory LLC acquired a new stake in Chevron during the 3rd quarter worth $31,000. Institutional investors and hedge funds own 72.42% of the company's stock.

Chevron Trading Down 1.2 %

CVX traded down $1.87 on Friday, hitting $156.92. The company had a trading volume of 6,686,883 shares, compared to its average volume of 6,690,703. The firm has a market cap of $282.00 billion, a P/E ratio of 16.14, a PEG ratio of 1.46 and a beta of 1.11. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11. The company's fifty day moving average price is $151.97 and its 200 day moving average price is $150.99. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX - Get Free Report) last issued its quarterly earnings data 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 quarter in the previous year, the business earned $3.45 earnings per share. As a group, equities analysts expect 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 will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be paid a dividend of $1.71 per share. The ex-dividend date of this dividend is Friday, February 14th. This is a positive change from Chevron's previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a yield of 4.36%. Chevron's dividend payout ratio is 70.37%.

Insiders Place Their Bets

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the business's stock in a transaction dated 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 sale, the vice president now directly owns 1,057 shares in the company, valued at $161,192.50. This 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 at the SEC website. Insiders own 0.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on CVX shares. Piper Sandler lowered their target price on shares of Chevron from $184.00 to $173.00 and set an "overweight" rating on the stock in a research note on Thursday, December 19th. Raymond James lowered their price target 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. Truist Financial lowered their price target on shares of Chevron from $164.00 to $160.00 and set a "hold" rating on the stock in a research report on Tuesday, February 4th. Wells Fargo & Company lowered their price target on shares of Chevron from $188.00 to $184.00 and set an "overweight" rating on the stock in a research report on Monday, February 3rd. Finally, Citigroup raised shares of Chevron from a "neutral" rating to a "buy" rating and boosted their price target for the company from $145.00 to $185.00 in a research report on Tuesday, November 26th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $174.13.

Chevron 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.