Independent Advisor Alliance Buys 5,612 Shares of Chevron Co. (NYSE:CVX)

Independent Advisor Alliance increased its stake in Chevron Co. (NYSE:CVX) by 4.7% in the fourth quarter, HoldingsChannel reports. The fund owned 125,216 shares of the oil and gas company’s stock after purchasing an additional 5,612 shares during the period. Independent Advisor Alliance’s holdings in Chevron were worth $18,136,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of CVX. Life Planning Partners Inc bought a new position in Chevron during the 4th quarter valued at approximately $25,000. Legacy Investment Solutions LLC purchased a new position in shares of Chevron during the 3rd quarter worth approximately $29,000. Darwin Wealth Management LLC purchased a new position in shares of Chevron during the 3rd quarter worth approximately $30,000. RPg Family Wealth Advisory LLC purchased a new position in shares of Chevron during the 3rd quarter worth approximately $31,000. Finally, New Wave Wealth Advisors LLC purchased a new position in shares of Chevron during the 4th quarter worth approximately $39,000. Institutional investors own 72.42% of the company’s stock.

Chevron Trading Up 2.3 %

CVX opened at $156.48 on Monday. The firm has a market cap of $275.51 billion, a P/E ratio of 16.10, a P/E/G ratio of 1.46 and a beta of 1.08. Chevron Co. has a 12 month low of $135.37 and a 12 month 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. The stock has a 50-day moving average of $154.08 and a 200 day moving average of $151.78.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) 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 prior year, the company posted $3.45 earnings per share. As a group, research analysts forecast that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be paid a $1.71 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.84 annualized dividend and a yield of 4.37%. This is an increase from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio (DPR) is presently 70.37%.

Analysts Set New Price Targets

A number of research analysts have weighed in on CVX shares. Royal Bank of Canada reiterated an “outperform” rating and set a $175.00 target price on shares of Chevron in a report on Monday, February 3rd. Wells Fargo & Company reduced their target price on Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Raymond James cut their price target on Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a research note on Monday, February 3rd. Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and upped their price target for the stock from $145.00 to $185.00 in a research note on Tuesday, November 26th. Finally, Piper Sandler cut their target price on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Chevron currently has a consensus rating of “Moderate Buy” and an average price target of $174.13.

Insider Activity

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the company’s stock in a transaction 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 completion of the sale, the vice president now owns 1,057 shares in the company, valued at $161,192.50. This represents a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.20% of the company’s stock.

Chevron 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.