Wealth Alliance Has $2.41 Million Holdings in Chevron Co. (NYSE:CVX)

Wealth Alliance grew its holdings in shares of Chevron Co. (NYSE:CVX) by 1.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,164 shares of the oil and gas company’s stock after acquiring an additional 261 shares during the quarter. Wealth Alliance’s holdings in Chevron were worth $2,411,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of CVX. NCM Capital Management LLC raised its holdings in shares of Chevron by 1.2% in the 1st quarter. NCM Capital Management LLC now owns 5,570 shares of the oil and gas company’s stock valued at $909,000 after acquiring an additional 65 shares in the last quarter. Sweet Financial Partners LLC raised its holdings in shares of Chevron by 0.7% in the 3rd quarter. Sweet Financial Partners LLC now owns 8,761 shares of the oil and gas company’s stock valued at $1,477,000 after acquiring an additional 65 shares in the last quarter. Strategic Investment Advisors MI raised its holdings in shares of Chevron by 3.8% in the 3rd quarter. Strategic Investment Advisors MI now owns 1,758 shares of the oil and gas company’s stock valued at $296,000 after acquiring an additional 65 shares in the last quarter. Alera Investment Advisors LLC raised its holdings in shares of Chevron by 1.0% in the 3rd quarter. Alera Investment Advisors LLC now owns 6,486 shares of the oil and gas company’s stock valued at $1,094,000 after acquiring an additional 67 shares in the last quarter. Finally, Global Trust Asset Management LLC raised its holdings in shares of Chevron by 1.0% in the 3rd quarter. Global Trust Asset Management LLC now owns 6,852 shares of the oil and gas company’s stock valued at $1,155,000 after acquiring an additional 67 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on CVX shares. Royal Bank of Canada raised their price target on Chevron from $185.00 to $190.00 and gave the company an “outperform” rating in a report on Monday, February 5th. Raymond James raised their price target on Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a report on Monday. Piper Sandler decreased their price objective on Chevron from $188.00 to $180.00 and set an “overweight” rating on the stock in a report on Thursday, March 14th. Jefferies Financial Group upgraded Chevron from a “hold” rating to a “buy” rating and set a $184.00 price target on the stock in a research report on Monday, January 8th. Finally, TD Cowen lowered Chevron from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $170.00 to $150.00 in a research report on Tuesday, January 23rd. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $183.55.

Insider Buying and Selling at Chevron

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total transaction of $448,252.00. Following the completion of the transaction, the vice president now owns 276 shares in the company, valued at $44,184.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.18% of the stock is owned by company insiders.

Chevron Trading Down 0.8 %

NYSE CVX opened at $156.28 on Wednesday. The company has a quick ratio of 1.01, a current ratio of 1.27 and a debt-to-equity ratio of 0.13. Chevron Co. has a twelve month low of $139.62 and a twelve month high of $172.54. The firm has a market capitalization of $290.25 billion, a PE ratio of 13.76, a P/E/G ratio of 2.37 and a beta of 1.12. The stock’s 50 day moving average is $155.11 and its 200 day moving average is $151.83.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share for the quarter, beating the consensus estimate of $3.19 by $0.26. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The company had revenue of $47.18 billion for the quarter, compared to analyst estimates of $50.93 billion. During the same period in the previous year, the company posted $4.09 earnings per share. The firm’s revenue was down 16.5% on a year-over-year basis. Research analysts forecast that Chevron Co. will post 13.28 earnings per share for the current fiscal year.

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Friday, February 16th were paid a dividend of $1.63 per share. This is a boost from Chevron’s previous quarterly dividend of $1.51. The ex-dividend date was Thursday, February 15th. This represents a $6.52 dividend on an annualized basis and a yield of 4.17%. Chevron’s payout ratio is presently 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.