New Age Alpha Advisors LLC Invests $5.59 Million in Chevron Co. (NYSE:CVX)

New Age Alpha Advisors LLC bought a new stake in shares of Chevron Co. (NYSE:CVX) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 38,592 shares of the oil and gas company’s stock, valued at approximately $5,590,000.

A number of other institutional investors also recently modified their holdings of CVX. United Bank boosted its holdings in Chevron by 8.4% in the third quarter. United Bank now owns 8,095 shares of the oil and gas company’s stock worth $1,192,000 after acquiring an additional 629 shares in the last quarter. Loomis Sayles & Co. L P raised its position in shares of Chevron by 7.2% during the third quarter. Loomis Sayles & Co. L P now owns 2,413 shares of the oil and gas company’s stock worth $355,000 after purchasing an additional 163 shares during the period. Peterson Wealth Management lifted its holdings in shares of Chevron by 1.8% in the 3rd quarter. Peterson Wealth Management now owns 8,362 shares of the oil and gas company’s stock worth $1,232,000 after purchasing an additional 149 shares in the last quarter. Martingale Asset Management L P grew its position in Chevron by 2.8% in the 3rd quarter. Martingale Asset Management L P now owns 183,259 shares of the oil and gas company’s stock valued at $26,989,000 after purchasing an additional 4,924 shares during the period. Finally, Providence Wealth Advisors LLC increased its stake in Chevron by 1.1% during the 3rd quarter. Providence Wealth Advisors LLC now owns 14,113 shares of the oil and gas company’s stock valued at $2,114,000 after purchasing an additional 150 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Piper Sandler reduced their price objective on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. UBS Group cut their price target on Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a research note on Monday, February 3rd. Raymond James lowered their price objective on Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research note on Monday, February 3rd. Wells Fargo & Company cut their target price on Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Finally, Barclays lowered their price target on Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a research report on Wednesday, February 5th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, Chevron presently has an average rating of “Moderate Buy” and an average target price of $174.13.

Chevron Price Performance

Shares of NYSE CVX opened at $166.06 on Friday. The firm has a market cap of $292.37 billion, a price-to-earnings ratio of 17.08, a price-to-earnings-growth ratio of 1.46 and a beta of 1.08. The stock has a fifty day simple moving average of $157.10 and a two-hundred day simple moving average of $153.38. 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 Co. has a 1-year low of $135.37 and a 1-year high of $168.96.

Chevron (NYSE:CVX) last announced its quarterly earnings data 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 return on equity of 11.44% and a net margin of 8.71%. During the same period in the previous year, the business posted $3.45 earnings per share. Analysts anticipate that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were paid a dividend of $1.71 per share. This is a boost from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.12%. The ex-dividend date of this dividend was Friday, February 14th. Chevron’s dividend payout ratio is presently 70.37%.

Insider Buying and Selling

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the stock in a transaction on 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 sale, the vice president now owns 1,057 shares in the company, valued at $161,192.50. This represents a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.20% of the stock is owned by insiders.

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.