Cambridge Investment Research Advisors Inc. Buys 16,758 Shares of Chevron Co. (NYSE:CVX)

Cambridge Investment Research Advisors Inc. increased its stake in shares of Chevron Co. (NYSE:CVX) by 4.0% during the fourth quarter, HoldingsChannel reports. The fund owned 440,778 shares of the oil and gas company’s stock after acquiring an additional 16,758 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Chevron were worth $65,746,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the business. WealthPlan Investment Management LLC boosted its stake in shares of Chevron by 2,493.2% in the 3rd quarter. WealthPlan Investment Management LLC now owns 53,550 shares of the oil and gas company’s stock valued at $9,030,000 after purchasing an additional 51,485 shares in the last quarter. Compass Ion Advisors LLC acquired a new position in Chevron during the 3rd quarter worth about $949,000. Advisor OS LLC lifted its position in Chevron by 3.8% during the 3rd quarter. Advisor OS LLC now owns 4,283 shares of the oil and gas company’s stock worth $722,000 after buying an additional 158 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its position in Chevron by 9.4% during the 3rd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 89,735 shares of the oil and gas company’s stock worth $15,131,000 after buying an additional 7,738 shares in the last quarter. Finally, Welch & Forbes LLC lifted its position in Chevron by 2.5% during the 3rd quarter. Welch & Forbes LLC now owns 391,280 shares of the oil and gas company’s stock worth $65,978,000 after buying an additional 9,692 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Piper Sandler boosted their price objective on Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a report on Thursday, April 18th. TD Cowen upped their price target on Chevron from $155.00 to $160.00 and gave the company a “hold” rating in a research note on Monday, April 29th. Royal Bank of Canada upped their price target on Chevron from $185.00 to $190.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. Wells Fargo & Company upped their price target on Chevron from $198.00 to $206.00 and gave the company an “overweight” rating in a research note on Tuesday, April 30th. Finally, Barclays assumed coverage on Chevron in a research note on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 price target for the company. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $186.10.

Insiders Place Their Bets

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the firm’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $165.00, for a total value of $462,000.00. Following the transaction, the vice president now directly owns 276 shares of the company’s stock, valued at approximately $45,540. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Enrique Hernandez, Jr. sold 2,549 shares of the stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $165.24, for a total value of $421,196.76. Following the completion of the transaction, the director now owns 27,725 shares of the company’s stock, valued at approximately $4,581,279. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $165.00, for a total transaction of $462,000.00. Following the completion of the transaction, the vice president now directly owns 276 shares of the company’s stock, valued at approximately $45,540. The disclosure for this sale can be found here. Insiders have sold a total of 15,796 shares of company stock worth $2,575,361 in the last 90 days. Company insiders own 0.20% of the company’s stock.

Chevron Stock Down 0.4 %

Shares of NYSE CVX traded down $0.66 during trading hours on Thursday, hitting $156.91. The company had a trading volume of 3,336,429 shares, compared to its average volume of 8,142,956. Chevron Co. has a 1-year low of $139.62 and a 1-year high of $171.70. The firm’s 50 day moving average is $160.15 and its 200-day moving average is $152.38. The company has a quick ratio of 0.93, a current ratio of 1.23 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $289.81 billion, a P/E ratio of 14.47, a price-to-earnings-growth ratio of 2.36 and a beta of 1.11.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, beating analysts’ consensus estimates of $2.84 by $0.09. The business had revenue of $48.72 billion for the quarter, compared to analysts’ expectations of $48.42 billion. Chevron had a return on equity of 14.40% and a net margin of 10.21%. The firm’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.55 EPS. On average, analysts expect that Chevron Co. will post 13.57 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 17th will be paid a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 4.16%. The ex-dividend date of this dividend is Thursday, May 16th. Chevron’s dividend payout ratio (DPR) is currently 59.98%.

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.