Cliftonlarsonallen Wealth Advisors LLC Raises Stock Position in Chevron Co. (NYSE:CVX)

Cliftonlarsonallen Wealth Advisors LLC boosted its stake in Chevron Co. (NYSE:CVX) by 11.6% in the fourth quarter, HoldingsChannel reports. The firm owned 14,257 shares of the oil and gas company’s stock after acquiring an additional 1,480 shares during the period. Cliftonlarsonallen Wealth Advisors LLC’s holdings in Chevron were worth $2,065,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Edgestream Partners L.P. bought a new position in shares of Chevron in the 2nd quarter worth approximately $2,398,000. Financial & Tax Architects LLC increased its holdings in Chevron by 4.2% during the second quarter. Financial & Tax Architects LLC now owns 37,738 shares of the oil and gas company’s stock valued at $5,903,000 after buying an additional 1,524 shares during the last quarter. Wealth Alliance boosted its stake in shares of Chevron by 24.3% during the 2nd quarter. Wealth Alliance now owns 21,809 shares of the oil and gas company’s stock worth $3,411,000 after acquiring an additional 4,259 shares during the last quarter. E Fund Management Co. Ltd. boosted its stake in shares of Chevron by 10.9% during the 2nd quarter. E Fund Management Co. Ltd. now owns 10,858 shares of the oil and gas company’s stock worth $1,698,000 after acquiring an additional 1,068 shares during the last quarter. Finally, Meridian Wealth Partners LLC grew its position in shares of Chevron by 8.7% during the 2nd quarter. Meridian Wealth Partners LLC now owns 2,450 shares of the oil and gas company’s stock valued at $383,000 after acquiring an additional 197 shares during the period. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Michael K. Wirth sold 164,600 shares of the company’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the sale, the chief executive officer now owns 4,280 shares of the company’s stock, valued at $685,356.40. This represents a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

CVX has been the topic of a number of recent research reports. DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price on the stock in a research report on Tuesday, November 5th. UBS Group raised their price objective on Chevron from $194.00 to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. Truist Financial boosted their price objective on Chevron from $160.00 to $164.00 and gave the company a “hold” rating in a research note on Monday. Piper Sandler decreased 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. Finally, Scotiabank lowered their price target on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $174.87.

Chevron Price Performance

Shares of NYSE:CVX opened at $158.25 on Thursday. The firm has a market cap of $284.39 billion, a price-to-earnings ratio of 17.39, a P/E/G ratio of 2.62 and a beta of 1.12. The firm has a fifty day moving average price of $153.78 and a 200 day moving average price of $150.95. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week 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.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, beating the consensus estimate of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The business had revenue of $50.67 billion during the quarter, compared to the consensus estimate of $48.86 billion. During the same quarter in the prior year, the firm earned $3.05 EPS. The business’s revenue was down 6.3% on a year-over-year basis. As a group, sell-side analysts expect that Chevron Co. will post 10.39 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th were paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 4.12%. The ex-dividend date of this dividend was Monday, November 18th. Chevron’s payout ratio is 71.65%.

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.