MV Capital Management Inc. Grows Stake in Chevron Co. (NYSE:CVX)

MV Capital Management Inc. lifted its stake in shares of Chevron Co. (NYSE:CVX) by 22.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,390 shares of the oil and gas company’s stock after purchasing an additional 253 shares during the period. MV Capital Management Inc.’s holdings in Chevron were worth $201,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of CVX. United Bank raised its position in shares of Chevron by 8.4% in the third quarter. United Bank now owns 8,095 shares of the oil and gas company’s stock valued at $1,192,000 after purchasing an additional 629 shares during the period. Loomis Sayles & Co. L P grew its position in shares of Chevron by 7.2% in the third quarter. Loomis Sayles & Co. L P now owns 2,413 shares of the oil and gas company’s stock valued at $355,000 after purchasing an additional 163 shares in the last quarter. Peterson Wealth Management raised its stake in shares of Chevron by 1.8% during the 3rd quarter. Peterson Wealth Management now owns 8,362 shares of the oil and gas company’s stock valued at $1,232,000 after purchasing an additional 149 shares during the period. Martingale Asset Management L P lifted its holdings in Chevron by 2.8% during the 3rd quarter. Martingale Asset Management L P now owns 183,259 shares of the oil and gas company’s stock worth $26,989,000 after purchasing an additional 4,924 shares in the last quarter. Finally, Providence Wealth Advisors LLC lifted its holdings in shares of Chevron by 1.1% in the third quarter. Providence Wealth Advisors LLC now owns 14,113 shares of the oil and gas company’s stock worth $2,114,000 after buying an additional 150 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

Shares of CVX opened at $166.06 on Friday. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $168.96. The business’s fifty day simple moving average is $157.10 and its two-hundred day simple moving average is $153.38. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The company has a market cap of $292.37 billion, a price-to-earnings ratio of 17.08, a P/E/G ratio of 1.46 and a beta of 1.08.

Chevron (NYSE:CVX) last issued its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.36). Chevron had a return on equity of 11.44% and a net margin of 8.71%. During the same period in the previous year, the business posted $3.45 earnings per share. Research analysts anticipate that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were paid a dividend of $1.71 per share. This is an increase from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.12%. The ex-dividend date was Friday, February 14th. Chevron’s payout ratio is currently 70.37%.

Insider Transactions at Chevron

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

Wall Street Analysts Forecast Growth

CVX has been the topic of a number of research analyst reports. Raymond James decreased their price target on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a report on Monday, February 3rd. UBS Group cut their target price on Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a research note on Monday, February 3rd. Piper Sandler cut their price objective on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Wells Fargo & Company cut their price target on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Finally, Barclays lowered their target price on Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $174.13.

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.