Mystic Asset Management Inc. Has $3.28 Million Stock Position in Chevron Co. (NYSE:CVX)

Mystic Asset Management Inc. lifted its position in shares of Chevron Co. (NYSE:CVX) by 13.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 22,622 shares of the oil and gas company’s stock after purchasing an additional 2,727 shares during the quarter. Mystic Asset Management Inc.’s holdings in Chevron were worth $3,277,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of CVX. Leelyn Smith LLC lifted its stake in Chevron by 2.0% during the fourth quarter. Leelyn Smith LLC now owns 16,557 shares of the oil and gas company’s stock worth $2,398,000 after purchasing an additional 328 shares during the period. Dopkins Wealth Management LLC raised its holdings in shares of Chevron by 59.8% in the 4th quarter. Dopkins Wealth Management LLC now owns 5,113 shares of the oil and gas company’s stock worth $741,000 after buying an additional 1,913 shares in the last quarter. RD Lewis Holdings Inc. bought a new position in shares of Chevron during the 4th quarter worth approximately $1,273,000. Argent Advisors Inc. boosted its stake in Chevron by 6.2% in the 4th quarter. Argent Advisors Inc. now owns 9,279 shares of the oil and gas company’s stock valued at $1,344,000 after buying an additional 542 shares in the last quarter. Finally, Flagship Wealth Advisors LLC bought a new stake in Chevron in the fourth quarter valued at $1,071,000. 72.42% of the stock is currently owned by institutional investors.

Insider Activity

In other news, VP Jeff B. Gustavson sold 9,325 shares of the company’s stock in a transaction dated 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 directly owns 1,057 shares of the company’s stock, valued at $161,192.50. This represents a 89.82 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CVX. Royal Bank of Canada reissued an “outperform” rating and set a $175.00 price objective on shares of Chevron in a report on Monday, February 3rd. Barclays reduced their price target on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. Wells Fargo & Company dropped their price objective on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. UBS Group cut their target price on shares of Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a research note on Monday, February 3rd. Finally, Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and increased their price target for the stock from $145.00 to $185.00 in a research report on Tuesday, November 26th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $174.13.

Chevron Price Performance

Chevron stock opened at $158.69 on Tuesday. The business’s 50-day simple moving average is $155.26 and its 200 day simple moving average is $152.14. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The stock has a market cap of $279.38 billion, a price-to-earnings ratio of 16.33, a P/E/G ratio of 1.46 and a beta of 1.08. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing the consensus estimate 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 quarter last year, the firm posted $3.45 EPS. As a group, research analysts anticipate that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The firm also recently announced 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 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 4.31%. Chevron’s payout ratio is presently 70.37%.

Chevron Company 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.