Advisory Services Network LLC Has $23.49 Million Stock Holdings in Chevron Co. (NYSE:CVX)

Advisory Services Network LLC lifted its position in shares of Chevron Co. (NYSE:CVX) by 1.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 162,145 shares of the oil and gas company’s stock after purchasing an additional 2,139 shares during the period. Advisory Services Network LLC’s holdings in Chevron were worth $23,485,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Chevron in the fourth quarter worth $3,017,750,000. Raymond James Financial Inc. acquired a new stake in shares of Chevron in the fourth quarter valued at about $1,036,302,000. Bank of New York Mellon Corp lifted its stake in shares of Chevron by 17.3% in the fourth quarter. Bank of New York Mellon Corp now owns 16,496,687 shares of the oil and gas company’s stock worth $2,389,380,000 after acquiring an additional 2,432,756 shares during the period. Amundi boosted its holdings in Chevron by 27.7% in the fourth quarter. Amundi now owns 8,806,050 shares of the oil and gas company’s stock valued at $1,323,549,000 after acquiring an additional 1,910,262 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in Chevron by 6.9% during the 4th quarter. Invesco Ltd. now owns 15,027,474 shares of the oil and gas company’s stock worth $2,176,579,000 after purchasing an additional 964,426 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Insider Buying and Selling

In related news, VP Jeff B. Gustavson sold 9,325 shares of the business’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the transaction, the vice president now directly owns 1,057 shares in the company, valued at approximately $161,192.50. The trade was a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.20% of the stock is currently owned by corporate insiders.

Chevron Stock Performance

CVX opened at $139.81 on Tuesday. The company has a market cap of $246.15 billion, a price-to-earnings ratio of 14.38, a PEG ratio of 1.46 and a beta of 0.93. The company’s fifty day moving average price is $157.04 and its two-hundred day moving average price is $154.21. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $168.96. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share 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 quarter in the prior year, the firm posted $3.45 earnings per share. On average, analysts expect that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors 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 4.89%. Chevron’s payout ratio is presently 70.37%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Barclays dropped their target price on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. UBS Group cut their target price on Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday. Raymond James lowered their target price on Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a report on Monday, February 3rd. Piper Sandler cut their price target on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Finally, Wells Fargo & Company lowered their price objective on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, Chevron presently has a consensus rating of “Moderate Buy” and a consensus target price of $173.53.

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.