Allworth Financial LP Has $53.16 Million Stock Holdings in Chevron Co. (NYSE:CVX)

Allworth Financial LP lifted its holdings in shares of Chevron Co. (NYSE:CVX) by 31.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 339,868 shares of the oil and gas company’s stock after buying an additional 80,428 shares during the period. Allworth Financial LP’s holdings in Chevron were worth $53,159,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Life Planning Partners Inc bought a new stake in shares of Chevron during the fourth quarter worth $25,000. Rational Advisors LLC acquired a new stake in shares of Chevron during the 3rd quarter valued at $29,000. Legacy Investment Solutions LLC acquired a new stake in shares of Chevron during the 3rd quarter valued at $29,000. Darwin Wealth Management LLC acquired a new position in Chevron in the 3rd quarter worth about $30,000. Finally, RPg Family Wealth Advisory LLC bought a new position in Chevron in the third quarter valued at about $31,000. 72.42% of the stock is currently owned by institutional investors.

Chevron Stock Performance

Shares of NYSE CVX opened at $155.32 on Friday. The stock’s 50-day moving average is $151.86 and its 200 day moving average is $150.86. The stock has a market cap of $279.12 billion, a price-to-earnings ratio of 15.98, a P/E/G ratio of 1.39 and a beta of 1.11. Chevron Co. has a 1-year low of $135.37 and a 1-year 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.

Chevron (NYSE:CVX) last released its earnings results on Friday, January 31st. The oil and gas company reported $2.06 EPS 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 in the prior year, the business posted $3.45 EPS. On average, sell-side analysts anticipate that Chevron Co. will post 10.84 EPS for the current fiscal year.

Chevron Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be issued a dividend of $1.71 per share. The ex-dividend date of this dividend is Friday, February 14th. This is a boost from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 4.40%. Chevron’s dividend payout ratio is currently 67.08%.

Analyst Upgrades and Downgrades

CVX has been the subject of a number of research reports. Barclays dropped their price objective on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. UBS Group cut their price target on shares of Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a report on Monday, February 3rd. DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective for the company in a report on Tuesday, November 5th. Citigroup raised Chevron from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $145.00 to $185.00 in a report on Tuesday, November 26th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $175.00 price target on shares of Chevron in a research note on Monday, February 3rd. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $174.13.

Insider Buying and Selling

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the business’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $152.50, for a total value of $1,422,062.50. Following 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.20% of the stock is owned by corporate insiders.

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.