Atala Financial Inc Buys New Holdings in Chevron Co. (NYSE:CVX)

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

A number of other hedge funds also recently made changes to their positions in the business. Madison Investment Advisors LLC acquired a new stake in shares of Chevron during the 4th quarter valued at about $19,688,000. JPL Wealth Management LLC bought a new position in Chevron during the fourth quarter worth about $6,039,000. Impact Capital Partners LLC acquired a new stake in Chevron during the fourth quarter valued at approximately $833,000. DecisionMap Wealth Management LLC bought a new stake in shares of Chevron in the 4th quarter valued at approximately $246,000. Finally, CFO4Life Group LLC raised its holdings in shares of Chevron by 3.3% in the 4th quarter. CFO4Life Group LLC now owns 5,006 shares of the oil and gas company’s stock worth $725,000 after buying an additional 160 shares in the last quarter. Institutional investors and hedge funds 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 on 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 transaction, the vice president now directly owns 1,057 shares in the company, valued at $161,192.50. This trade represents a 89.82 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.20% of the stock is currently owned by insiders.

Chevron Stock Up 0.6 %

Shares of CVX opened at $153.56 on Friday. The firm 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 Co. has a 52 week low of $135.37 and a 52 week high of $167.11. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The business’s fifty day moving average price is $154.85 and its two-hundred day moving average price is $151.92.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing the consensus estimate 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 in the prior year, the firm posted $3.45 earnings per share. On average, analysts predict 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. Stockholders of record on Friday, February 14th were given a dividend of $1.71 per share. This is a boost from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend was Friday, February 14th. This represents a $6.84 annualized dividend and a dividend yield of 4.45%. Chevron’s payout ratio is currently 70.37%.

Analyst Ratings Changes

Several brokerages recently commented on CVX. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $175.00 price target on shares of Chevron in a research note on Monday, February 3rd. Citigroup upgraded shares of Chevron from a “neutral” rating to a “buy” rating and boosted their target price for the company from $145.00 to $185.00 in a research note on Tuesday, November 26th. Barclays cut their price target on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. Piper Sandler decreased their price objective on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Finally, Raymond James cut their target price on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research note on Monday, February 3rd. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $174.13.

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.