Atria Wealth Solutions Inc. Purchases 856 Shares of Chevron Co. (NYSE:CVX)

Atria Wealth Solutions Inc. boosted its position in shares of Chevron Co. (NYSE:CVX) by 0.5% in the 4th quarter, HoldingsChannel reports. The firm owned 177,347 shares of the oil and gas company’s stock after buying an additional 856 shares during the period. Atria Wealth Solutions Inc.’s holdings in Chevron were worth $26,453,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. Picton Mahoney Asset Management bought a new position in shares of Chevron in the third quarter worth about $26,000. Valley Forge Investment Consultants Inc. ADV raised its stake in shares of Chevron by 80.0% in the third quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock worth $30,000 after acquiring an additional 80 shares during the last quarter. Valued Wealth Advisors LLC acquired a new stake in shares of Chevron during the 4th quarter worth approximately $33,000. Legacy Financial Group LLC acquired a new stake in shares of Chevron during the 3rd quarter worth approximately $43,000. Finally, Roble Belko & Company Inc grew its position in shares of Chevron by 77.3% during the 4th quarter. Roble Belko & Company Inc now owns 344 shares of the oil and gas company’s stock worth $51,000 after buying an additional 150 shares during the period. 72.42% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on CVX. TD Cowen cut shares of Chevron from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $170.00 to $150.00 in a research report on Tuesday, January 23rd. Raymond James boosted their price objective on shares of Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a report on Monday, April 15th. Piper Sandler boosted their price objective on shares of Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a report on Thursday, April 18th. Barclays initiated coverage on shares of Chevron in a report on Wednesday, April 10th. They set an “overweight” rating and a $203.00 price objective for the company. Finally, Royal Bank of Canada boosted their price objective on shares of Chevron from $185.00 to $190.00 and gave the company an “outperform” rating in a report on Monday, February 5th. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $184.75.

Chevron Stock Performance

Shares of CVX stock traded up $0.84 on Wednesday, hitting $163.69. The company’s stock had a trading volume of 7,607,146 shares, compared to its average volume of 8,448,613. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.27. The stock’s 50 day moving average is $156.14 and its 200-day moving average is $151.75. Chevron Co. has a fifty-two week low of $139.62 and a fifty-two week high of $171.70. The company has a market capitalization of $304.02 billion, a PE ratio of 14.41, a PEG ratio of 2.38 and a beta of 1.12.

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. Equities research analysts expect that Chevron Co. will post 13.58 earnings per share for the current fiscal year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Friday, February 16th were paid a $1.63 dividend. The ex-dividend date was Thursday, February 15th. This is an increase from Chevron’s previous quarterly dividend of $1.51. This represents a $6.52 annualized dividend and a dividend yield of 3.98%. Chevron’s dividend payout ratio is 57.39%.

Insiders Place Their Bets

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total transaction of $448,252.00. Following the sale, the vice president now directly owns 276 shares in the company, valued at $44,184.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.18% of the company’s stock.

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.