Mattern Wealth Management LLC Cuts Stock Holdings in Chevron Co. (NYSE:CVX)

Mattern Wealth Management LLC trimmed its stake in shares of Chevron Co. (NYSE:CVX) by 32.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 23,747 shares of the oil and gas company’s stock after selling 11,368 shares during the period. Chevron accounts for 0.8% of Mattern Wealth Management LLC’s portfolio, making the stock its 25th largest holding. Mattern Wealth Management LLC’s holdings in Chevron were worth $3,497,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Cherrydale Wealth Management LLC purchased a new stake in shares of Chevron during the first quarter worth $223,000. Westend Capital Management LLC purchased a new position in Chevron during the first quarter worth about $119,000. Steph & Co. boosted its stake in Chevron by 19.0% during the first quarter. Steph & Co. now owns 5,777 shares of the oil and gas company’s stock worth $911,000 after buying an additional 922 shares during the period. Game Plan Financial Advisors LLC purchased a new position in Chevron during the first quarter worth about $1,437,000. Finally, Northwest Investment Counselors LLC boosted its stake in Chevron by 8.2% during the first quarter. Northwest Investment Counselors LLC now owns 2,261 shares of the oil and gas company’s stock worth $357,000 after buying an additional 171 shares during the period. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Stock Up 0.0 %

NYSE CVX traded up $0.04 during trading on Tuesday, reaching $150.92. 1,432,805 shares of the company’s stock were exchanged, compared to its average volume of 7,663,179. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11. The firm has a market capitalization of $278.14 billion, a PE ratio of 13.84, a P/E/G ratio of 2.73 and a beta of 1.09. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13. The company’s fifty day simple moving average is $146.19 and its 200-day simple moving average is $153.55.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). The company had revenue of $51.18 billion during the quarter, compared to the consensus estimate of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. The firm’s revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the business posted $3.08 earnings per share. Sell-side analysts predict that Chevron Co. will post 10.95 EPS for the current year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were issued a $1.63 dividend. The ex-dividend date was Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a yield of 4.32%. Chevron’s dividend payout ratio is presently 59.98%.

Wall Street Analyst Weigh In

CVX has been the topic of several research reports. Mizuho reduced their price target on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. Wells Fargo & Company reduced their price target on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a research report on Friday, September 27th. Sanford C. Bernstein cut shares of Chevron from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $183.00 to $167.00 in a research report on Wednesday, July 17th. UBS Group increased their price target on shares of Chevron from $189.00 to $192.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Finally, Barclays reduced their target price on shares of Chevron from $185.00 to $168.00 and set an “overweight” rating on the stock in a report on Thursday, October 3rd. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, Chevron has an average rating of “Moderate Buy” and an average price target of $173.07.

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.