Alteri Wealth LLC Makes New $1.07 Million Investment in Chevron Co. (NYSE:CVX)

Alteri Wealth LLC bought a new stake in Chevron Co. (NYSE:CVX - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 7,355 shares of the oil and gas company's stock, valued at approximately $1,065,000.

Several other institutional investors and hedge funds have also modified their holdings of CVX. Life Planning Partners Inc acquired a new position in shares of Chevron during the 4th quarter worth approximately $25,000. IMG Wealth Management Inc. bought a new stake in shares of Chevron in the fourth quarter valued at approximately $25,000. Mizuho Securities Co. Ltd. acquired a new stake in Chevron during the fourth quarter worth approximately $29,000. Fairway Wealth LLC increased its stake in Chevron by 75.9% during the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company's stock worth $30,000 after acquiring an additional 88 shares during the period. Finally, Navigoe LLC acquired a new position in Chevron in the 4th quarter valued at $33,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Price Performance

Shares of CVX opened at $138.53 on Friday. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The stock has a market cap of $243.90 billion, a PE ratio of 14.25, a PEG ratio of 1.46 and a beta of 0.93. Chevron Co. has a 12-month low of $132.04 and a 12-month high of $168.96. The business has a 50-day simple moving average of $149.76 and a two-hundred day simple moving average of $152.53.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.03. Chevron had a return on equity of 11.44% and a net margin of 8.71%. The company had revenue of $47.61 billion during the quarter, compared to the consensus estimate of $49.05 billion. During the same quarter in the prior year, the firm posted $2.93 earnings per share. The firm's revenue was down 2.3% compared to the same quarter last year. Analysts anticipate that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Monday, May 19th will be paid a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.94%. Chevron's dividend payout ratio is 70.37%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on CVX shares. Scotiabank cut Chevron from a "sector outperform" rating to a "sector perform" rating and decreased their price target for the stock from $160.00 to $143.00 in a research report on Friday, April 11th. Truist Financial decreased their target price on shares of Chevron from $164.00 to $160.00 and set a "hold" rating on the stock in a report on Tuesday, February 4th. UBS Group cut their price target on shares of Chevron from $194.00 to $185.00 and set a "buy" rating for the company in a report on Monday, April 7th. Royal Bank of Canada reiterated an "outperform" rating and set a $175.00 price target on shares of Chevron in a research report on Monday, February 3rd. Finally, Wells Fargo & Company cut their target price on Chevron from $184.00 to $173.00 and set an "overweight" rating for the company in a research note on Tuesday, April 15th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $165.27.

Insider Activity at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the company's stock in a transaction dated 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 sale, the vice president now owns 1,057 shares in the company, valued at approximately $161,192.50. The trade was a 89.82 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.20% of the stock is currently owned by company 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.

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