Atlas Legacy Advisors LLC Acquires Shares of 3,944 Chevron Co. (NYSE:CVX)

Atlas Legacy Advisors LLC bought a new stake in shares of Chevron Co. (NYSE:CVX) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 3,944 shares of the oil and gas company’s stock, valued at approximately $571,000.

A number of other large investors also recently made changes to their positions in CVX. Tacita Capital Inc lifted its holdings in shares of Chevron by 16.7% in the third quarter. Tacita Capital Inc now owns 454 shares of the oil and gas company’s stock worth $67,000 after acquiring an additional 65 shares during the last quarter. Wallace Capital Management Inc. increased its position in Chevron by 0.8% during the 3rd quarter. Wallace Capital Management Inc. now owns 8,229 shares of the oil and gas company’s stock worth $1,212,000 after purchasing an additional 65 shares in the last quarter. TFB Advisors LLC lifted its stake in Chevron by 2.4% in the 4th quarter. TFB Advisors LLC now owns 2,840 shares of the oil and gas company’s stock valued at $411,000 after purchasing an additional 66 shares during the last quarter. W.H. Cornerstone Investments Inc. boosted its position in Chevron by 1.4% in the fourth quarter. W.H. Cornerstone Investments Inc. now owns 4,672 shares of the oil and gas company’s stock valued at $677,000 after buying an additional 66 shares in the last quarter. Finally, S.A. Mason LLC grew its stake in shares of Chevron by 0.7% during the third quarter. S.A. Mason LLC now owns 9,033 shares of the oil and gas company’s stock worth $1,330,000 after buying an additional 67 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Performance

Shares of Chevron stock opened at $156.23 on Wednesday. The business has a 50-day simple moving average of $151.80 and a 200 day simple moving average of $150.81. The firm has a market capitalization of $280.76 billion, a price-to-earnings ratio of 16.07, a PEG ratio of 1.43 and a beta of 1.11. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. Chevron Co. has a one year low of $135.37 and a one year high of $167.11.

Chevron (NYSE:CVX) last issued its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 prior year, the firm earned $3.45 earnings per share. On average, research analysts anticipate that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be given a $1.71 dividend. This is a boost from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date is Friday, February 14th. This represents a $6.84 annualized dividend and a yield of 4.38%. Chevron’s dividend payout ratio (DPR) is presently 70.37%.

Analyst Ratings Changes

CVX has been the topic of a number of research reports. DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective on the stock in a research report on Tuesday, November 5th. UBS Group lowered 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. Wells Fargo & Company cut their target price on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Piper Sandler cut their price target 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 upgraded Chevron from a “neutral” rating to a “buy” rating and increased their price objective for the company from $145.00 to $185.00 in a report on Tuesday, November 26th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Chevron currently has a consensus rating of “Moderate Buy” and an average target price of $174.13.

Insider Buying and Selling at Chevron

In related news, VP Jeff B. Gustavson sold 9,325 shares of Chevron stock in a transaction that occurred 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 transaction, the vice president now owns 1,057 shares of the company’s stock, valued at $161,192.50. The trade was a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.20% of the company’s stock.

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.