Independent Advisor Alliance Has $18.14 Million Stock Position in Chevron Co. (NYSE:CVX)

Independent Advisor Alliance increased its holdings in shares of Chevron Co. (NYSE:CVX) by 4.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 125,216 shares of the oil and gas company’s stock after purchasing an additional 5,612 shares during the period. Independent Advisor Alliance’s holdings in Chevron were worth $18,136,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Paragon Private Wealth Management LLC grew its stake in Chevron by 9.4% in the fourth quarter. Paragon Private Wealth Management LLC now owns 5,023 shares of the oil and gas company’s stock valued at $727,000 after acquiring an additional 431 shares during the period. Meriwether Wealth & Planning LLC acquired a new stake in Chevron in the fourth quarter valued at approximately $1,491,000. Johnson Investment Counsel Inc. grew its stake in Chevron by 2.0% in the fourth quarter. Johnson Investment Counsel Inc. now owns 792,982 shares of the oil and gas company’s stock valued at $114,855,000 after acquiring an additional 15,507 shares during the period. Gallagher Capital Advisors LLC acquired a new stake in Chevron in the fourth quarter valued at approximately $244,000. Finally, Daiwa Securities Group Inc. grew its stake in Chevron by 3.7% in the fourth quarter. Daiwa Securities Group Inc. now owns 301,855 shares of the oil and gas company’s stock valued at $43,720,000 after acquiring an additional 10,772 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Price Performance

Shares of NYSE CVX opened at $156.48 on Monday. The stock has a market cap of $275.51 billion, a PE ratio of 16.10, a price-to-earnings-growth ratio of 1.46 and a beta of 1.08. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The stock has a fifty day moving average of $154.08 and a 200-day moving average of $151.78.

Chevron (NYSE:CVX) last posted 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 return on equity of 11.44% and a net margin of 8.71%. During the same period in the previous year, the firm earned $3.45 EPS. Equities research analysts anticipate that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The firm also recently announced 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 represents a $6.84 annualized dividend and a yield of 4.37%. This is a boost from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Friday, February 14th. Chevron’s payout ratio is presently 70.37%.

Insider Buying and Selling

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of Chevron 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 completion of the sale, the vice president now owns 1,057 shares of the company’s stock, valued at $161,192.50. The trade was a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CVX. Raymond James dropped their target price on Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a report on Monday, February 3rd. Wells Fargo & Company dropped their target price on Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. UBS Group dropped their target price on Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a report on Monday, February 3rd. Piper Sandler dropped their price target on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Finally, Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $145.00 to $185.00 in a report on Tuesday, November 26th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, Chevron has an average rating of “Moderate Buy” and a consensus price target of $174.13.

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.