Alpine Woods Capital Investors LLC Raises Stock Holdings in Chevron Co. (NYSE:CVX)

Alpine Woods Capital Investors LLC raised its position in Chevron Co. (NYSE:CVX) by 1.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,736 shares of the oil and gas company’s stock after buying an additional 245 shares during the quarter. Alpine Woods Capital Investors LLC’s holdings in Chevron were worth $2,134,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC purchased a new stake in Chevron in the third quarter valued at approximately $29,000. Fairway Wealth LLC increased its holdings in shares of Chevron by 75.9% in the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock valued at $30,000 after purchasing an additional 88 shares during the period. Darwin Wealth Management LLC acquired a new position in shares of Chevron in the third quarter valued at approximately $30,000. RPg Family Wealth Advisory LLC acquired a new position in shares of Chevron in the third quarter valued at approximately $31,000. Finally, New Wave Wealth Advisors LLC acquired a new position in shares of Chevron in the fourth quarter valued at approximately $39,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Insider Activity

In related news, VP Jeff B. Gustavson sold 9,325 shares of the stock in a transaction dated 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 transaction, the vice president now directly 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 filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

CVX has been the topic of a number of recent research reports. Piper Sandler dropped their target price on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Royal Bank of Canada reissued an “outperform” rating and issued a $175.00 target price on shares of Chevron in a report on Monday, February 3rd. Truist Financial dropped their target price on Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a report on Tuesday, February 4th. Barclays dropped 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. Finally, Wells Fargo & Company dropped their price objective on Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $174.13.

Chevron Stock Up 0.6 %

Chevron stock opened at $153.56 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11. The stock’s fifty day moving average is $154.85 and its two-hundred day moving average is $151.92. The firm has a market capitalization of $270.35 billion, a price-to-earnings ratio of 15.80, a price-to-earnings-growth ratio of 1.46 and a beta of 1.08.

Chevron (NYSE:CVX) last issued 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 net margin of 8.71% and a return on equity of 11.44%. During the same period in the previous year, the company earned $3.45 earnings per share. Analysts predict that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were given a $1.71 dividend. This is an increase from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a dividend yield of 4.45%. The ex-dividend date was Friday, February 14th. Chevron’s dividend payout ratio is currently 70.37%.

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.