Atria Wealth Solutions Inc. Acquires 12,285 Shares of Chevron Co. (NYSE:CVX)

Atria Wealth Solutions Inc. grew its holdings in shares of Chevron Co. (NYSE:CVX) by 7.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 169,636 shares of the oil and gas company’s stock after acquiring an additional 12,285 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Chevron were worth $24,570,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in CVX. Life Planning Partners Inc bought a new stake in Chevron during the 4th quarter worth $25,000. Rational Advisors LLC acquired a new stake in shares of Chevron during the third quarter valued at about $29,000. Legacy Investment Solutions LLC bought a new stake in shares of Chevron during the third quarter worth about $29,000. Darwin Wealth Management LLC acquired a new position in shares of Chevron in the third quarter valued at approximately $30,000. Finally, RPg Family Wealth Advisory LLC bought a new position in Chevron in the 3rd quarter valued at approximately $31,000. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

CVX opened at $155.32 on Tuesday. The company has a market cap of $279.12 billion, a price-to-earnings ratio of 15.98, a PEG ratio of 1.39 and a beta of 1.11. The company’s fifty day moving average price is $151.86 and its two-hundred day moving average price is $150.73. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last announced its quarterly earnings results 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 net margin of 8.71% and a return on equity of 11.44%. During the same quarter in the prior year, the firm posted $3.45 earnings per share. On average, analysts expect that Chevron Co. will post 10.84 EPS for the current fiscal year.

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be paid a dividend of $1.71 per share. The ex-dividend date is Friday, February 14th. This is a boost from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 4.40%. Chevron’s dividend payout ratio (DPR) is 67.08%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CVX. Raymond James decreased their price target on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research report on Monday, February 3rd. Citigroup raised Chevron from a “neutral” rating to a “buy” rating and raised their target price for the stock from $145.00 to $185.00 in a research report on Tuesday, November 26th. Royal Bank of Canada reiterated an “outperform” rating and issued a $175.00 price target on shares of Chevron in a research report on Monday, February 3rd. Piper Sandler decreased their price target on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Finally, Barclays cut their price objective on Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 5th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $174.13.

Insiders Place Their Bets

In related news, VP Jeff B. Gustavson sold 9,325 shares of the firm’s stock in a transaction dated Friday, February 7th. The shares were 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 of the company’s stock, valued at $161,192.50. This trade represents a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.20% of the company’s stock.

Chevron Company 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.