Avion Wealth Acquires 474 Shares of Chevron Co. (NYSE:CVX)

Avion Wealth boosted its holdings in shares of Chevron Co. (NYSE:CVX) by 13.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,088 shares of the oil and gas company’s stock after purchasing an additional 474 shares during the quarter. Avion Wealth’s holdings in Chevron were worth $592,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in CVX. Allspring Global Investments Holdings LLC lifted its stake in Chevron by 18.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 263,872 shares of the oil and gas company’s stock worth $38,712,000 after purchasing an additional 40,311 shares in the last quarter. Kentucky Trust Co bought a new stake in shares of Chevron in the fourth quarter worth about $2,790,000. Gladstone Institutional Advisory LLC lifted its position in shares of Chevron by 6.9% in the fourth quarter. Gladstone Institutional Advisory LLC now owns 52,625 shares of the oil and gas company’s stock worth $7,622,000 after buying an additional 3,384 shares in the last quarter. MeadowBrook Investment Advisors LLC lifted its position in shares of Chevron by 4.3% in the fourth quarter. MeadowBrook Investment Advisors LLC now owns 3,730 shares of the oil and gas company’s stock worth $540,000 after buying an additional 155 shares in the last quarter. Finally, TFB Advisors LLC boosted its stake in Chevron by 2.4% during the fourth quarter. TFB Advisors LLC now owns 2,840 shares of the oil and gas company’s stock valued at $411,000 after buying an additional 66 shares during the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Chevron

In related news, CEO Michael K. Wirth sold 164,600 shares of Chevron stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the completion of the transaction, the chief executive officer now directly owns 4,280 shares in the company, valued at approximately $685,356.40. This trade represents a 97.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Jeff B. Gustavson sold 9,325 shares of the firm’s stock in a transaction that occurred 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 sale, the vice president now directly owns 1,057 shares in the company, valued at $161,192.50. The trade was a 89.82 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.20% of the company’s stock.

Chevron Stock Up 1.1 %

Chevron stock opened at $157.43 on Wednesday. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11. The stock has a market capitalization of $282.91 billion, a price-to-earnings ratio of 16.20, a PEG ratio of 1.39 and a beta of 1.11. 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 business has a fifty day moving average price of $152.08 and a 200-day moving average price of $150.81.

Chevron (NYSE:CVX) last released its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a return on equity of 11.44% and a net margin of 8.71%. During the same quarter in the previous year, the company posted $3.45 EPS. Equities research analysts forecast that Chevron Co. will post 10.84 EPS for the current fiscal year.

Chevron Increases Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a yield of 4.34%. This is a boost from Chevron’s previous quarterly dividend of $1.63. Chevron’s payout ratio is currently 67.08%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective on the stock in a report on Tuesday, November 5th. Truist Financial dropped their price objective on shares of Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research note on Tuesday, February 4th. Barclays lowered their price target on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. Citigroup raised Chevron from a “neutral” rating to a “buy” rating and boosted their target price for the company from $145.00 to $185.00 in a research report on Tuesday, November 26th. Finally, Piper Sandler dropped their target price on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, Chevron has a consensus rating of “Moderate Buy” and an average target price of $174.13.

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.