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

Atria Wealth Solutions Inc. grew its stake in shares of Chevron Co. (NYSE:CVX) by 7.8% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 169,636 shares of the oil and gas company’s stock after acquiring an additional 12,285 shares during the period. Atria Wealth Solutions Inc.’s holdings in Chevron were worth $24,570,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Chicago Capital LLC boosted its stake in Chevron by 3.0% during the third quarter. Chicago Capital LLC now owns 9,733 shares of the oil and gas company’s stock valued at $1,433,000 after buying an additional 279 shares during the period. Cyndeo Wealth Partners LLC raised its holdings in shares of Chevron by 0.3% in the 3rd quarter. Cyndeo Wealth Partners LLC now owns 19,769 shares of the oil and gas company’s stock valued at $2,911,000 after acquiring an additional 67 shares in the last quarter. Compass Ion Advisors LLC boosted its position in shares of Chevron by 3.0% during the 3rd quarter. Compass Ion Advisors LLC now owns 5,931 shares of the oil and gas company’s stock valued at $874,000 after acquiring an additional 174 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Chevron by 14.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 223,561 shares of the oil and gas company’s stock worth $32,924,000 after purchasing an additional 27,483 shares during the last quarter. Finally, Godsey & Gibb Inc. raised its stake in Chevron by 2.9% in the third quarter. Godsey & Gibb Inc. now owns 125,724 shares of the oil and gas company’s stock valued at $18,515,000 after purchasing an additional 3,544 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors.

Insider Activity at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of Chevron 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 transaction, the vice president now owns 1,057 shares in the company, valued at approximately $161,192.50. The trade was a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

CVX has been the subject of a number of research reports. Wells Fargo & Company cut their price target 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. DZ Bank upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price for the company in a research report on Tuesday, November 5th. Piper Sandler lowered their price target on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. UBS Group cut their price objective on Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a report on Monday, February 3rd. Finally, Barclays decreased their price objective on Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Four investment 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 price target of $174.13.

Chevron Stock Performance

NYSE:CVX opened at $155.32 on Tuesday. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11. The stock has a market cap of $279.12 billion, a P/E ratio of 15.98, a price-to-earnings-growth ratio of 1.39 and a beta of 1.11. The firm’s fifty day simple moving average is $151.86 and its 200 day simple moving average is $150.73.

Chevron (NYSE:CVX) last released its quarterly 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 period in the prior year, the business earned $3.45 EPS. As a group, research analysts predict that Chevron Co. will post 10.84 EPS for the current year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be given a dividend of $1.71 per share. This is a boost from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a yield of 4.40%. The ex-dividend date is Friday, February 14th. Chevron’s dividend payout ratio (DPR) is 67.08%.

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.