Chevron Co. (NYSE:CVX) Shares Bought by Aire Advisors LLC

Aire Advisors LLC raised its position in shares of Chevron Co. (NYSE:CVX) by 27.5% in the fourth quarter, Holdings Channel.com reports. The fund owned 12,825 shares of the oil and gas company’s stock after acquiring an additional 2,764 shares during the quarter. Aire Advisors LLC’s holdings in Chevron were worth $1,858,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Baxter Bros Inc. boosted its holdings in Chevron by 1.3% in the 4th quarter. Baxter Bros Inc. now owns 66,268 shares of the oil and gas company’s stock valued at $9,598,000 after purchasing an additional 881 shares during the last quarter. Bay Capital Advisors LLC purchased a new position in Chevron in the fourth quarter worth approximately $307,000. PKS Advisory Services LLC acquired a new stake in Chevron during the fourth quarter worth $327,000. Signature Estate & Investment Advisors LLC raised its position in Chevron by 1.8% in the fourth quarter. Signature Estate & Investment Advisors LLC now owns 396,518 shares of the oil and gas company’s stock valued at $57,432,000 after purchasing an additional 7,139 shares during the period. Finally, Heritage Wealth Management Inc. CA lifted its stake in shares of Chevron by 43.0% in the 4th quarter. Heritage Wealth Management Inc. CA now owns 1,842 shares of the oil and gas company’s stock valued at $267,000 after purchasing an additional 554 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CVX. Royal Bank of Canada reaffirmed an “outperform” rating and set a $175.00 price objective on shares of Chevron in a research report on Monday, February 3rd. Truist Financial dropped 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. UBS Group lowered their target price on Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a report on Monday, February 3rd. Barclays cut their price target on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 5th. Finally, Wells Fargo & Company lowered their price objective on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. 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, Chevron currently has a consensus rating of “Moderate Buy” and a consensus target price of $174.13.

Insider Activity at Chevron

In other news, VP Jeff B. Gustavson sold 9,325 shares of the company’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 completion of the transaction, 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 Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.20% of the company’s stock.

Chevron Price Performance

Shares of NYSE:CVX opened at $165.10 on Tuesday. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.11. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The business has a fifty day simple moving average of $156.49 and a 200-day simple moving average of $152.81. The company has a market cap of $290.68 billion, a P/E ratio of 16.99, a P/E/G ratio of 1.46 and a beta of 1.08.

Chevron (NYSE:CVX) last posted 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 net margin of 8.71% and a return on equity of 11.44%. During the same quarter last year, the business posted $3.45 EPS. Equities research analysts forecast that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 4.14%. This is an increase from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date was Friday, February 14th. Chevron’s dividend payout ratio (DPR) is 70.37%.

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.