Mitchell & Pahl Private Wealth LLC Increases Holdings in Chevron Co. (NYSE:CVX)

Mitchell & Pahl Private Wealth LLC boosted its holdings in shares of Chevron Co. (NYSE:CVX) by 4.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,380 shares of the oil and gas company’s stock after purchasing an additional 617 shares during the period. Mitchell & Pahl Private Wealth LLC’s holdings in Chevron were worth $1,938,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Evergreen Capital Management LLC grew its holdings in shares of Chevron by 1.9% during the 2nd quarter. Evergreen Capital Management LLC now owns 40,897 shares of the oil and gas company’s stock worth $6,397,000 after acquiring an additional 775 shares during the period. Providence Capital Advisors LLC grew its holdings in shares of Chevron by 1.6% during the 2nd quarter. Providence Capital Advisors LLC now owns 18,614 shares of the oil and gas company’s stock worth $2,912,000 after acquiring an additional 288 shares during the period. Cheviot Value Management LLC bought a new stake in shares of Chevron in the 2nd quarter worth approximately $12,340,000. Mill Creek Capital Advisors LLC boosted its position in shares of Chevron by 3.2% in the 2nd quarter. Mill Creek Capital Advisors LLC now owns 4,214 shares of the oil and gas company’s stock worth $659,000 after purchasing an additional 131 shares in the last quarter. Finally, Semmax Financial Advisors Inc. boosted its position in shares of Chevron by 21.8% in the 2nd quarter. Semmax Financial Advisors Inc. now owns 5,209 shares of the oil and gas company’s stock worth $751,000 after purchasing an additional 932 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Insider Transactions at Chevron

In other news, CEO Michael K. Wirth sold 164,600 shares of the company’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total value of $26,357,398.00. Following the completion of the sale, the chief executive officer now directly owns 4,280 shares in the company, valued at $685,356.40. This represents a 97.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.20% of the stock is currently owned by company insiders.

Chevron Price Performance

Shares of CVX opened at $158.16 on Wednesday. The firm has a market cap of $284.23 billion, a PE ratio of 17.38, a P/E/G ratio of 1.46 and a beta of 1.12. 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 firm has a fifty day simple moving average of $154.03 and a two-hundred day simple moving average of $151.04. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, topping the consensus estimate of $2.47 by $0.04. The firm had revenue of $50.67 billion during the quarter, compared to analyst estimates of $48.86 billion. Chevron had a return on equity of 13.15% and a net margin of 8.44%. Chevron’s revenue was down 6.3% on a year-over-year basis. During the same period in the prior year, the business posted $3.05 EPS. On average, equities analysts anticipate that Chevron Co. will post 10.21 EPS for the current year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th were paid a $1.63 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $6.52 annualized dividend and a dividend yield of 4.12%. Chevron’s dividend payout ratio (DPR) is 71.65%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CVX. Piper Sandler dropped their price target on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Citigroup raised Chevron from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $145.00 to $185.00 in a research report on Tuesday, November 26th. Royal Bank of Canada boosted their price target on Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Barclays upped their price objective on Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Finally, DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective on the stock in a research report on Tuesday, November 5th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, Chevron has a consensus rating of “Moderate Buy” and an average target price of $175.27.

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.