Biondo Investment Advisors LLC Has $9.85 Million Stock Holdings in Chevron Co. (NYSE:CVX)

Biondo Investment Advisors LLC boosted its position in Chevron Co. (NYSE:CVX) by 0.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 68,005 shares of the oil and gas company’s stock after acquiring an additional 280 shares during the period. Chevron accounts for about 1.4% of Biondo Investment Advisors LLC’s holdings, making the stock its 28th biggest position. Biondo Investment Advisors LLC’s holdings in Chevron were worth $9,850,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Allstate Corp lifted its holdings in shares of Chevron by 3,103.1% in the 4th quarter. Allstate Corp now owns 51,794 shares of the oil and gas company’s stock worth $7,502,000 after purchasing an additional 50,177 shares in the last quarter. Maridea Wealth Management LLC bought a new position in shares of Chevron in the fourth quarter valued at $318,000. Brown Brothers Harriman & Co. grew its holdings in shares of Chevron by 49.2% during the fourth quarter. Brown Brothers Harriman & Co. now owns 81,856 shares of the oil and gas company’s stock valued at $11,856,000 after buying an additional 26,999 shares during the last quarter. RiverFront Investment Group LLC increased its position in shares of Chevron by 34.9% during the fourth quarter. RiverFront Investment Group LLC now owns 88,823 shares of the oil and gas company’s stock worth $12,865,000 after acquiring an additional 22,979 shares in the last quarter. Finally, DnB Asset Management AS lifted its position in Chevron by 1.7% in the 4th quarter. DnB Asset Management AS now owns 462,830 shares of the oil and gas company’s stock valued at $67,036,000 after acquiring an additional 7,936 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Performance

NYSE:CVX opened at $166.06 on Friday. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $168.96. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The business has a fifty day simple moving average of $157.10 and a two-hundred day simple moving average of $153.38. The company has a market capitalization of $292.37 billion, a P/E ratio of 17.08, a P/E/G ratio of 1.46 and a beta of 1.08.

Chevron (NYSE:CVX) last announced its quarterly earnings data 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 return on equity of 11.44% and a net margin of 8.71%. During the same period in the previous year, the business posted $3.45 earnings per share. On average, analysts expect that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were paid 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 dividend yield of 4.12%. The ex-dividend date was Friday, February 14th. Chevron’s dividend payout ratio is presently 70.37%.

Analysts Set New Price Targets

CVX has been the subject of a number of recent research reports. Royal Bank of Canada reissued an “outperform” rating and set a $175.00 price objective on shares of Chevron in a report on Monday, February 3rd. UBS Group lowered their price target on Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a research report on Monday, February 3rd. Piper Sandler cut their price objective on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Barclays lowered their target price 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. Finally, Raymond James cut their price target on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a report 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. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $174.13.

Insiders Place Their Bets

In other news, VP Jeff B. Gustavson sold 9,325 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at approximately $161,192.50. This represents a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company 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.