Allied Investment Advisors LLC Buys 3,224 Shares of Chevron Corporation $CVX

Allied Investment Advisors LLC boosted its stake in shares of Chevron Corporation (NYSE:CVX) by 3.7% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 89,975 shares of the oil and gas company’s stock after buying an additional 3,224 shares during the quarter. Chevron makes up approximately 2.1% of Allied Investment Advisors LLC’s investment portfolio, making the stock its 18th biggest holding. Allied Investment Advisors LLC’s holdings in Chevron were worth $13,713,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Strategic Wealth Advisors LLC bought a new position in Chevron during the 4th quarter valued at about $33,000. Daytona Street Capital LLC purchased a new stake in Chevron in the fourth quarter worth $44,000. Turning Point Benefit Group Inc. bought a new stake in shares of Chevron during the third quarter worth $49,000. Maseco LLP purchased a new stake in shares of Chevron during the fourth quarter valued at $49,000. Finally, High Point Wealth Management LLC bought a new position in shares of Chevron in the fourth quarter worth about $53,000. 72.42% of the stock is currently owned by institutional investors.

Chevron News Roundup

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron began drilling a new well at Egypt’s Narges gas field, a sign it is pushing ahead with production growth in the Eastern Mediterranean and potentially adding future output. Chevron Begins Drilling New Well at Egypt’s Narges Gas Field
• Positive Sentiment: Recent commentary highlighting Chevron CEO Mike Wirth’s warnings about tighter global oil supplies and a possible 1970s-style oil shock could be supportive for CVX, since sustained energy shortages and higher crude prices generally improve upstream producer economics. If Wirth Is Right About a 1970s-Style Oil Crisis, These Retail Stocks Could Take the Biggest Hit This Summer.
• Positive Sentiment: Another set of articles emphasized Chevron’s large production base and strong balance sheet, reinforcing the view that the company can benefit from elevated energy prices and navigate a tighter supply backdrop. Chevron Produces 3 Million Barrels a Day, and Its CEO Says Supply Buffers Are Running Out. Is It Time to Buy?
• Neutral Sentiment: News that proxy advisors recommended voting against certain board-related proposals at Chevron and Exxon Mobil adds governance noise, but it does not appear to be a major near-term operating catalyst. Why Exxon Mobil’s (XOM) Board Proposals Are Drawing Investor Attention
• Negative Sentiment: Reports that Chevron insiders sold about $179 million of stock may weigh on sentiment, as heavy insider selling is often viewed as a cautious signal about the shares’ near-term outlook. Chevron Insiders Sell US$179m Of Stock, Possibly Signalling Caution
• Negative Sentiment: California Governor Gavin Newsom’s public criticism of Chevron and calls for drivers to avoid the brand add political and reputational overhang, though the market impact is likely secondary to oil-price moves. Gavin Newsom warns Californians to ‘avoid Chevron,’ says big oil is ‘making billions off Trump’s Iran war’

Analyst Ratings Changes

A number of brokerages recently issued reports on CVX. Royal Bank Of Canada reiterated an “outperform” rating and issued a $220.00 price target on shares of Chevron in a report on Tuesday, May 5th. Argus set a $203.00 target price on Chevron in a report on Tuesday, February 3rd. Zacks Research upgraded Chevron from a “hold” rating to a “strong-buy” rating in a report on Friday, April 3rd. BNP Paribas Exane upgraded shares of Chevron from a “neutral” rating to an “outperform” rating and set a $174.00 target price on the stock in a report on Friday, April 17th. Finally, TD Cowen raised their target price on shares of Chevron from $204.00 to $205.00 and gave the company a “hold” rating in a research report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $204.22.

Insider Transactions at Chevron

In other news, insider R. Hewitt Pate sold 58,000 shares of the business’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $188.65, for a total transaction of $10,941,700.00. Following the sale, the insider directly owned 8,558 shares of the company’s stock, valued at $1,614,466.70. The trade was a 87.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael K. Wirth sold 272,624 shares of the firm’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $189.35, for a total value of $51,621,354.40. Following the completion of the transaction, the chief executive officer owned 31,266 shares of the company’s stock, valued at $5,920,217.10. This trade represents a 89.71% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 1,179,699 shares of company stock worth $224,675,517 over the last ninety days. 0.56% of the stock is currently owned by insiders.

Chevron Price Performance

NYSE CVX opened at $191.51 on Tuesday. Chevron Corporation has a 12-month low of $134.06 and a 12-month high of $214.71. The firm’s fifty day simple moving average is $193.43 and its two-hundred day simple moving average is $175.01. The company has a current ratio of 1.09, a quick ratio of 0.84 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $381.42 billion, a P/E ratio of 33.19, a P/E/G ratio of 0.64 and a beta of 0.51.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.41 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.41. Chevron had a return on equity of 6.90% and a net margin of 5.79%.The firm had revenue of $47.56 billion during the quarter, compared to analysts’ expectations of $51.86 billion. During the same quarter last year, the firm earned $2.18 EPS. The business’s quarterly revenue was up 2.1% on a year-over-year basis. Analysts forecast that Chevron Corporation will post 15.74 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 19th will be issued a dividend of $1.78 per share. The ex-dividend date is Tuesday, May 19th. This represents a $7.12 annualized dividend and a dividend yield of 3.7%. Chevron’s dividend payout ratio is 123.40%.

Chevron Profile

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.