Founders Financial Alliance LLC Acquires 1,880 Shares of Chevron Co. (NYSE:CVX)

Founders Financial Alliance LLC raised its holdings in Chevron Co. (NYSE:CVX) by 11.1% in the 4th quarter, HoldingsChannel reports. The firm owned 18,792 shares of the oil and gas company’s stock after purchasing an additional 1,880 shares during the quarter. Chevron accounts for approximately 0.7% of Founders Financial Alliance LLC’s portfolio, making the stock its 26th largest position. Founders Financial Alliance LLC’s holdings in Chevron were worth $2,722,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. Pettinga Financial Advisors LLC increased its stake in shares of Chevron by 10.1% in the 3rd quarter. Pettinga Financial Advisors LLC now owns 2,972 shares of the oil and gas company’s stock valued at $438,000 after buying an additional 272 shares during the period. United Bank increased its stake in shares of Chevron by 8.4% in the 3rd quarter. United Bank now owns 8,095 shares of the oil and gas company’s stock valued at $1,192,000 after buying an additional 629 shares during the period. Sheets Smith Wealth Management increased its stake in shares of Chevron by 5.2% in the 3rd quarter. Sheets Smith Wealth Management now owns 4,641 shares of the oil and gas company’s stock valued at $683,000 after buying an additional 229 shares during the period. Tyler Stone Wealth Management increased its stake in shares of Chevron by 135.1% in the 3rd quarter. Tyler Stone Wealth Management now owns 4,171 shares of the oil and gas company’s stock valued at $614,000 after buying an additional 2,397 shares during the period. Finally, Ashton Thomas Securities LLC increased its stake in shares of Chevron by 33.2% in the 3rd quarter. Ashton Thomas Securities LLC now owns 3,001 shares of the oil and gas company’s stock valued at $442,000 after buying an additional 748 shares during the period. Institutional investors own 72.42% of the company’s stock.

Insider Activity

In related news, VP Jeff B. Gustavson sold 9,325 shares of the company’s stock in a transaction dated 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 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Raymond James lowered their target price on Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research note on Monday, February 3rd. UBS Group decreased their price objective on Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a research note on Monday, February 3rd. Citigroup raised Chevron from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $145.00 to $185.00 in a research note on Tuesday, November 26th. Barclays decreased their price objective on Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. Finally, Truist Financial decreased their price objective on Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research note on Tuesday, February 4th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $174.13.

Chevron Stock Performance

CVX stock opened at $157.67 on Tuesday. The firm has a market cap of $277.59 billion, a PE ratio of 16.22, a P/E/G ratio of 1.46 and a beta of 1.08. The business’s 50-day moving average price is $154.37 and its two-hundred day moving average price is $151.86. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11. 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) last issued its quarterly 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 business earned $3.45 earnings per share. As a group, research analysts forecast that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.34%. This is a positive change from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend was Friday, February 14th. 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.