Mosaic Financial Group LLC Reduces Position in Chevron Co. (NYSE:CVX)

Mosaic Financial Group LLC lowered its position in Chevron Co. (NYSE:CVX) by 2.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,570 shares of the oil and gas company’s stock after selling 258 shares during the quarter. Chevron makes up approximately 1.1% of Mosaic Financial Group LLC’s portfolio, making the stock its 22nd biggest position. Mosaic Financial Group LLC’s holdings in Chevron were worth $1,531,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the company. United Bank grew its holdings in shares of Chevron by 8.4% during the third quarter. United Bank now owns 8,095 shares of the oil and gas company’s stock worth $1,192,000 after buying an additional 629 shares during the last quarter. Arete Wealth Advisors LLC purchased a new position in shares of Chevron in the 3rd quarter valued at approximately $2,370,000. Erste Asset Management GmbH purchased a new position in shares of Chevron in the 3rd quarter valued at approximately $4,850,000. Kestra Investment Management LLC acquired a new position in shares of Chevron in the third quarter valued at approximately $1,043,000. Finally, Atom Investors LP purchased a new stake in shares of Chevron during the third quarter worth approximately $360,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Trading Up 0.9 %

NYSE:CVX opened at $167.52 on Tuesday. The company has a market capitalization of $294.94 billion, a PE ratio of 17.23, a price-to-earnings-growth ratio of 1.46 and a beta of 1.08. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $168.96. The stock has a fifty day simple moving average of $157.22 and a 200-day simple moving average of $153.80. The company has a quick ratio of 0.80, a current ratio of 1.07 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 (EPS) 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 previous year, the company posted $3.45 earnings per share. On average, equities research analysts expect that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were given a dividend of $1.71 per share. This is an increase from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date was Friday, February 14th. This represents a $6.84 annualized dividend and a yield of 4.08%. Chevron’s dividend payout ratio (DPR) is presently 70.37%.

Analyst Ratings Changes

Several brokerages have issued reports on CVX. Barclays dropped their price objective on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 5th. Raymond James cut their price target on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a report on Monday, February 3rd. Truist Financial reduced their price objective on shares of Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research report on Tuesday, February 4th. UBS Group dropped their target price on Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a research report on Monday, February 3rd. Finally, Wells Fargo & Company reduced their price target on Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $174.13.

Insider Transactions at Chevron

In related news, VP Jeff B. Gustavson sold 9,325 shares of Chevron stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $152.50, for a total transaction 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 trade represents a 89.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.20% of the company’s stock.

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.