Aire Advisors LLC Has $1.74 Million Stock Holdings in Chevron Co. (NYSE:CVX)

Aire Advisors LLC trimmed its position in Chevron Co. (NYSE:CVX) by 4.8% in the fourth quarter, Holdings Channel.com reports. The firm owned 11,637 shares of the oil and gas company’s stock after selling 582 shares during the period. Aire Advisors LLC’s holdings in Chevron were worth $1,737,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Picton Mahoney Asset Management bought a new stake in Chevron in the third quarter valued at about $26,000. Valley Forge Investment Consultants Inc. ADV increased its stake in shares of Chevron by 80.0% in the 3rd quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock valued at $30,000 after acquiring an additional 80 shares during the last quarter. DHJJ Financial Advisors Ltd. acquired a new stake in shares of Chevron in the 3rd quarter valued at approximately $35,000. Valued Wealth Advisors LLC bought a new position in Chevron during the 4th quarter worth approximately $33,000. Finally, Worth Asset Management LLC acquired a new position in Chevron during the first quarter valued at approximately $36,000. 72.42% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on CVX shares. The Goldman Sachs Group reissued a “buy” rating on shares of Chevron in a research note on Monday, April 1st. Scotiabank raised Chevron from a “sector perform” rating to a “sector outperform” rating and lifted their target price for the company from $170.00 to $195.00 in a research report on Thursday. Mizuho increased their price target on Chevron from $195.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Piper Sandler dropped their price objective on Chevron from $188.00 to $180.00 and set an “overweight” rating on the stock in a research note on Thursday, March 14th. Finally, UBS Group raised their target price on shares of Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a research note on Tuesday, April 9th. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $183.60.

Insider Activity at Chevron

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total value of $448,252.00. Following the completion of the transaction, the vice president now directly owns 276 shares of the company’s stock, valued at approximately $44,184.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.18% of the stock is currently owned by corporate insiders.

Chevron Stock Performance

CVX opened at $158.96 on Monday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.27 and a quick ratio of 1.01. The company has a market capitalization of $295.23 billion, a PE ratio of 13.99, a price-to-earnings-growth ratio of 2.40 and a beta of 1.12. The business has a fifty day simple moving average of $154.92 and a 200 day simple moving average of $152.01. Chevron Co. has a 1 year low of $139.62 and a 1 year high of $172.88.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $3.45 EPS for the quarter, beating the consensus estimate of $3.19 by $0.26. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The business had revenue of $47.18 billion for the quarter, compared to the consensus estimate of $50.93 billion. During the same period in the prior year, the company posted $4.09 earnings per share. Chevron’s revenue was down 16.5% compared to the same quarter last year. Research analysts expect that Chevron Co. will post 13.24 EPS for the current year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Friday, February 16th were given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.10%. This is an increase from Chevron’s previous quarterly dividend of $1.51. The ex-dividend date was Thursday, February 15th. Chevron’s payout ratio is presently 57.39%.

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.