Allen Mooney & Barnes Investment Advisors LLC Acquires 1,532 Shares of Chevron Co. (NYSE:CVX)

Allen Mooney & Barnes Investment Advisors LLC boosted its stake in shares of Chevron Co. (NYSE:CVX) by 8.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 19,633 shares of the oil and gas company’s stock after acquiring an additional 1,532 shares during the quarter. Allen Mooney & Barnes Investment Advisors LLC’s holdings in Chevron were worth $2,844,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CVX. International Assets Investment Management LLC increased its position in Chevron by 19,404.1% in the third quarter. International Assets Investment Management LLC now owns 4,901,390 shares of the oil and gas company’s stock worth $7,218,280,000 after purchasing an additional 4,876,260 shares during the period. Pathway Financial Advisers LLC raised its stake in shares of Chevron by 15,750.1% during the third quarter. Pathway Financial Advisers LLC now owns 3,901,345 shares of the oil and gas company’s stock worth $574,551,000 after buying an additional 3,876,731 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in Chevron by 949.6% in the third quarter. Pacer Advisors Inc. now owns 3,819,963 shares of the oil and gas company’s stock valued at $562,566,000 after buying an additional 3,456,008 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Chevron by 11.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 31,108,760 shares of the oil and gas company’s stock valued at $4,581,137,000 after acquiring an additional 3,203,899 shares during the last quarter. Finally, State Street Corp grew its holdings in Chevron by 0.6% during the 3rd quarter. State Street Corp now owns 159,105,244 shares of the oil and gas company’s stock worth $23,431,429,000 after acquiring an additional 874,962 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on CVX shares. Bank of America began coverage on Chevron in a report on Thursday, October 17th. They issued a “buy” rating and a $168.00 price objective for the company. UBS Group increased their price target on shares of Chevron from $194.00 to $195.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Royal Bank of Canada boosted their price objective on shares of Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Piper Sandler cut their target price on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Finally, Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and boosted their price target for the company from $145.00 to $185.00 in a report on Tuesday, November 26th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, Chevron presently has a consensus rating of “Moderate Buy” and an average target price of $174.87.

Insider Activity at Chevron

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total value of $26,357,398.00. Following the completion of the transaction, the chief executive officer now directly owns 4,280 shares in the company, valued at $685,356.40. This trade represents a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.20% of the stock is owned by company insiders.

Chevron Stock Up 0.9 %

Shares of Chevron stock opened at $158.25 on Thursday. The firm has a market cap of $284.39 billion, a PE ratio of 17.39, a P/E/G ratio of 2.93 and a beta of 1.12. The business’s 50 day simple moving average is $153.78 and its 200 day simple moving average is $150.95. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $167.11.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, topping the consensus estimate of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The company had revenue of $50.67 billion during the quarter, compared to analysts’ expectations of $48.86 billion. During the same period last year, the business earned $3.05 EPS. The business’s quarterly revenue was down 6.3% on a year-over-year basis. On average, analysts predict that Chevron Co. will post 10.5 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th were issued a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 4.12%. The ex-dividend date of this dividend was Monday, November 18th. Chevron’s payout ratio is 71.65%.

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.