Atria Wealth Solutions Inc. Increases Stock Position in Chevron Co. (NYSE:CVX)

Atria Wealth Solutions Inc. grew its stake in shares of Chevron Co. (NYSE:CVX) by 0.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 177,347 shares of the oil and gas company’s stock after buying an additional 856 shares during the period. Atria Wealth Solutions Inc.’s holdings in Chevron were worth $26,453,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Carret Asset Management LLC grew its stake in shares of Chevron by 0.4% during the 4th quarter. Carret Asset Management LLC now owns 80,820 shares of the oil and gas company’s stock valued at $12,055,000 after buying an additional 288 shares during the period. Bfsg LLC boosted its position in Chevron by 3.9% during the 4th quarter. Bfsg LLC now owns 27,141 shares of the oil and gas company’s stock worth $4,048,000 after purchasing an additional 1,020 shares during the period. Madison Park Capital Advisors LLC purchased a new stake in Chevron during the 4th quarter worth $886,000. Schnieders Capital Management LLC boosted its position in Chevron by 8.7% during the 4th quarter. Schnieders Capital Management LLC now owns 50,111 shares of the oil and gas company’s stock worth $7,475,000 after purchasing an additional 4,005 shares during the period. Finally, Fountainhead AM LLC boosted its position in Chevron by 9.5% during the 4th quarter. Fountainhead AM LLC now owns 2,234 shares of the oil and gas company’s stock worth $333,000 after purchasing an additional 194 shares during the period. 72.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on CVX shares. Scotiabank raised shares of Chevron from a “sector perform” rating to a “sector outperform” rating and upped their price target for the stock from $170.00 to $195.00 in a research report on Thursday, April 11th. DZ Bank cut shares of Chevron from a “buy” rating to a “hold” rating and set a $160.00 price target for the company. in a research report on Tuesday, February 6th. Truist Financial decreased their price objective on shares of Chevron from $168.00 to $156.00 and set a “hold” rating for the company in a research report on Friday, April 5th. UBS Group upped their price objective on shares of Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a research report on Tuesday, April 9th. Finally, Piper Sandler upped their price objective on shares of Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a research report on Thursday, April 18th. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $184.75.

Insider Activity

In other news, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total value of $448,252.00. Following the completion of the transaction, the vice president now directly owns 276 shares in the company, valued at $44,184.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.18% of the company’s stock.

Chevron Stock Performance

NYSE CVX traded up $0.84 on Wednesday, hitting $163.69. The stock had a trading volume of 7,607,146 shares, compared to its average volume of 8,448,613. Chevron Co. has a one year low of $139.62 and a one year high of $171.70. The company has a quick ratio of 1.01, a current ratio of 1.27 and a debt-to-equity ratio of 0.13. The stock has a market cap of $304.02 billion, a price-to-earnings ratio of 14.41, a P/E/G ratio of 2.38 and a beta of 1.12. The company’s 50-day moving average is $156.14 and its two-hundred day moving average is $151.75.

Chevron (NYSE:CVX) last posted its earnings results on Friday, February 2nd. The oil and gas company reported $3.45 EPS for the quarter, topping the consensus estimate of $3.19 by $0.26. The firm had revenue of $47.18 billion during the quarter, compared to analysts’ expectations of $50.93 billion. Chevron had a net margin of 10.63% and a return on equity of 15.24%. Chevron’s quarterly revenue was down 16.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.09 EPS. On average, analysts expect that Chevron Co. will post 13.58 earnings per share for the current year.

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Friday, February 16th were issued a $1.63 dividend. The ex-dividend date of this dividend was Thursday, February 15th. This is a boost from Chevron’s previous quarterly dividend of $1.51. This represents a $6.52 annualized dividend and a dividend yield of 3.98%. Chevron’s dividend payout ratio (DPR) is 57.39%.

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.