Investors Asset Management of Georgia Inc. GA ADV Trims Stock Holdings in Chevron Co. (NYSE:CVX)

Investors Asset Management of Georgia Inc. GA ADV decreased its holdings in Chevron Co. (NYSE:CVX) by 10.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 30,674 shares of the oil and gas company’s stock after selling 3,651 shares during the period. Chevron accounts for approximately 2.3% of Investors Asset Management of Georgia Inc. GA ADV’s holdings, making the stock its 7th biggest holding. Investors Asset Management of Georgia Inc. GA ADV’s holdings in Chevron were worth $4,575,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Picton Mahoney Asset Management bought a new stake in Chevron in the third quarter worth $26,000. Valley Forge Investment Consultants Inc. ADV boosted its stake in shares of Chevron by 80.0% during the 3rd quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock worth $30,000 after purchasing an additional 80 shares during the period. Valued Wealth Advisors LLC bought a new position in Chevron during the 4th quarter valued at about $33,000. Worth Asset Management LLC purchased a new stake in Chevron in the 1st quarter worth about $36,000. Finally, Legacy Financial Group LLC bought a new stake in Chevron in the third quarter worth about $43,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Jefferies Financial Group upgraded Chevron from a “hold” rating to a “buy” rating and set a $184.00 price target on the stock in a report on Monday, January 8th. Mizuho boosted their target price on shares of Chevron from $195.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. Raymond James upped their price target on shares of Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a report on Monday. Piper Sandler lifted 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. Finally, The Goldman Sachs Group restated a “buy” rating on shares of Chevron in a research note on Monday, April 1st. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $184.75.

Chevron Stock Up 0.5 %

Chevron stock traded up $0.79 during trading hours on Thursday, reaching $157.19. The stock had a trading volume of 2,288,739 shares, compared to its average volume of 8,492,048. Chevron Co. has a 52 week low of $139.62 and a 52 week high of $172.38. The company has a market cap of $291.94 billion, a price-to-earnings ratio of 13.83, a PEG ratio of 2.30 and a beta of 1.12. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.27 and a quick ratio of 1.01. The business’s 50 day moving average price is $155.19 and its 200-day moving average price is $151.86.

Chevron (NYSE:CVX) last posted its earnings results on Friday, February 2nd. The oil and gas company reported $3.45 EPS for the quarter, beating analysts’ consensus estimates of $3.19 by $0.26. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The company had revenue of $47.18 billion during the quarter, compared to analysts’ expectations of $50.93 billion. During the same quarter in the prior year, the company posted $4.09 earnings per share. Chevron’s revenue for the quarter was down 16.5% compared to the same quarter last year. Sell-side analysts anticipate that Chevron Co. will post 13.56 EPS for the current year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Friday, February 16th were paid a $1.63 dividend. The ex-dividend date of this dividend was Thursday, February 15th. This is a boost from Chevron’s previous quarterly dividend of $1.51. This represents a $6.52 dividend on an annualized basis and a yield of 4.15%. Chevron’s dividend payout ratio (DPR) is 57.39%.

Insider Buying and Selling at Chevron

In other news, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at $44,184.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.18% of the stock is currently owned by company insiders.

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.