2,246 Shares in Chevron Co. (NYSE:CVX) Acquired by Atala Financial Inc

Atala Financial Inc bought a new stake in Chevron Co. (NYSE:CVX) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 2,246 shares of the oil and gas company’s stock, valued at approximately $325,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Pettinga Financial Advisors LLC lifted its position in Chevron by 10.1% in the third quarter. Pettinga Financial Advisors LLC now owns 2,972 shares of the oil and gas company’s stock worth $438,000 after purchasing an additional 272 shares during the period. United Bank raised its stake in shares of Chevron by 8.4% in the 3rd quarter. United Bank now owns 8,095 shares of the oil and gas company’s stock worth $1,192,000 after buying an additional 629 shares in the last quarter. Entropy Technologies LP acquired a new stake in shares of Chevron in the third quarter valued at $380,000. OVERSEA CHINESE BANKING Corp Ltd bought a new position in Chevron during the third quarter valued at about $492,000. Finally, Cable Hill Partners LLC grew its holdings in Chevron by 12.7% during the third quarter. Cable Hill Partners LLC now owns 7,073 shares of the oil and gas company’s stock worth $1,042,000 after acquiring an additional 795 shares during the period. Institutional investors own 72.42% of the company’s stock.

Insider Buying and Selling

In other news, VP Jeff B. Gustavson sold 9,325 shares of the firm’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $152.50, for a total value of $1,422,062.50. Following the sale, the vice president now directly owns 1,057 shares of the company’s stock, valued at approximately $161,192.50. This trade represents a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Citigroup upgraded shares of Chevron from a “neutral” rating to a “buy” rating and raised their price objective for the company from $145.00 to $185.00 in a research report on Tuesday, November 26th. 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. UBS Group reduced their price objective on Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a research note on Monday, February 3rd. Truist Financial cut their target price on Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a research report on Tuesday, February 4th. Finally, 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. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, Chevron currently has a consensus rating of “Moderate Buy” and a consensus target price of $174.13.

Chevron Trading Up 0.6 %

Chevron stock opened at $153.56 on Friday. Chevron Co. has a one year low of $135.37 and a one year high of $167.11. The company’s fifty day moving average price is $154.85 and its two-hundred day moving average price is $151.92. 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 company has a market capitalization of $270.35 billion, a price-to-earnings ratio of 15.80, a PEG ratio of 1.46 and a beta of 1.08.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing analysts’ consensus estimates 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 period last year, the business posted $3.45 EPS. On average, analysts forecast that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were paid a $1.71 dividend. The ex-dividend date of this dividend was Friday, February 14th. This is a positive change from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a yield of 4.45%. Chevron’s dividend payout ratio (DPR) is presently 70.37%.

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.