McHugh Group LLC Invests $395,000 in Chevron Co. (NYSE:CVX)

McHugh Group LLC acquired a new stake in Chevron Co. (NYSE:CVX) in the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 2,725 shares of the oil and gas company’s stock, valued at approximately $395,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Hoxton Planning & Management LLC boosted its holdings in shares of Chevron by 42.6% in the 3rd quarter. Hoxton Planning & Management LLC now owns 2,136 shares of the oil and gas company’s stock valued at $315,000 after buying an additional 638 shares during the period. Future Financial Wealth Managment LLC bought a new position in Chevron in the third quarter worth about $64,000. CWM LLC boosted its stake in Chevron by 4.2% in the third quarter. CWM LLC now owns 256,705 shares of the oil and gas company’s stock valued at $37,805,000 after acquiring an additional 10,337 shares during the period. Sanibel Captiva Trust Company Inc. grew its holdings in shares of Chevron by 7.4% during the third quarter. Sanibel Captiva Trust Company Inc. now owns 162,730 shares of the oil and gas company’s stock valued at $23,965,000 after purchasing an additional 11,149 shares during the last quarter. Finally, Patten Group Inc. raised its position in shares of Chevron by 9.0% during the 3rd quarter. Patten Group Inc. now owns 24,245 shares of the oil and gas company’s stock worth $3,571,000 after purchasing an additional 1,995 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CVX. Wells Fargo & Company reduced their price objective on Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research report on Monday. Truist Financial reduced their price target on shares of Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a report on Tuesday. Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $145.00 to $185.00 in a report on Tuesday, November 26th. Scotiabank reduced their target price on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Finally, DZ Bank upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price for the company in a research report on Tuesday, November 5th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Chevron presently has an average rating of “Moderate Buy” and an average price target of $174.13.

Chevron Stock Down 0.7 %

CVX opened at $151.86 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The company has a market capitalization of $272.90 billion, a PE ratio of 15.62, a P/E/G ratio of 1.29 and a beta of 1.11. The stock’s fifty day moving average is $152.60 and its 200-day moving average is $150.90. Chevron Co. has a one year low of $135.37 and a one year 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 in the prior year, the firm earned $3.45 earnings per share. On average, equities analysts predict that Chevron Co. will post 11.45 EPS for the current fiscal year.

Chevron Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be paid a dividend of $1.71 per share. The ex-dividend date of this dividend is Friday, February 14th. This is a positive change from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 4.50%. Chevron’s dividend payout ratio is currently 67.08%.

Insider Buying and Selling

In other Chevron 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 transaction, the chief executive officer now owns 4,280 shares of the company’s stock, valued at approximately $685,356.40. This represents a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.20% of the stock is currently owned by insiders.

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.