Mission Wealth Management LP Buys 6,492 Shares of Chevron Co. (NYSE:CVX)

Mission Wealth Management LP boosted its stake in shares of Chevron Co. (NYSE:CVX) by 21.7% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 36,357 shares of the oil and gas company’s stock after buying an additional 6,492 shares during the quarter. Mission Wealth Management LP’s holdings in Chevron were worth $5,735,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in CVX. Pacifica Partners Inc. increased its holdings in Chevron by 1.8% in the 1st quarter. Pacifica Partners Inc. now owns 3,492 shares of the oil and gas company’s stock worth $546,000 after acquiring an additional 63 shares in the last quarter. Private Wealth Management Group LLC increased its holdings in Chevron by 15.7% in the 1st quarter. Private Wealth Management Group LLC now owns 464 shares of the oil and gas company’s stock worth $73,000 after acquiring an additional 63 shares in the last quarter. Ellenbecker Investment Group boosted its stake in Chevron by 1.5% in the 1st quarter. Ellenbecker Investment Group now owns 4,346 shares of the oil and gas company’s stock worth $686,000 after purchasing an additional 65 shares during the period. Mayfair Advisory Group LLC boosted its stake in Chevron by 0.7% in the 1st quarter. Mayfair Advisory Group LLC now owns 9,407 shares of the oil and gas company’s stock worth $1,484,000 after purchasing an additional 65 shares during the period. Finally, Penbrook Management LLC boosted its stake in Chevron by 3.9% in the 1st quarter. Penbrook Management LLC now owns 1,730 shares of the oil and gas company’s stock worth $273,000 after purchasing an additional 65 shares during the period. Institutional investors own 72.42% of the company’s stock.

Chevron Trading Down 1.5 %

Shares of NYSE CVX traded down $2.40 during trading hours on Friday, reaching $154.31. The stock had a trading volume of 6,183,056 shares, compared to its average volume of 6,945,543. The company has a current ratio of 1.23, a quick ratio of 0.93 and a debt-to-equity ratio of 0.13. The firm has a market cap of $284.39 billion, a price-to-earnings ratio of 14.20, a P/E/G ratio of 2.38 and a beta of 1.10. The business’s fifty day moving average price is $158.45 and its two-hundred day moving average price is $154.93. Chevron Co. has a 52-week low of $139.62 and a 52-week high of $171.70.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.84 by $0.09. The firm had revenue of $48.72 billion during the quarter, compared to analyst estimates of $48.42 billion. Chevron had a return on equity of 14.40% and a net margin of 10.21%. Chevron’s quarterly revenue was down 4.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.55 earnings per share. Analysts expect that Chevron Co. will post 13.15 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 17th were issued a dividend of $1.63 per share. The ex-dividend date was Thursday, May 16th. This represents a $6.52 dividend on an annualized basis and a yield of 4.23%. Chevron’s dividend payout ratio is currently 59.98%.

Insiders Place Their Bets

In other Chevron news, VP Jeff B. Gustavson sold 3,750 shares of the company’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $160.23, for a total transaction of $600,862.50. Following the completion of the sale, the vice president now owns 477 shares in the company, valued at $76,429.71. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, VP Alana K. Knowles sold 2,800 shares of the company’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $165.00, for a total value of $462,000.00. Following the transaction, the vice president now directly owns 276 shares of the company’s stock, valued at approximately $45,540. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Jeff B. Gustavson sold 3,750 shares of the company’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $160.23, for a total value of $600,862.50. Following the completion of the transaction, the vice president now directly owns 477 shares in the company, valued at $76,429.71. The disclosure for this sale can be found here. Insiders sold a total of 16,746 shares of company stock worth $2,727,971 over the last 90 days. Company insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on CVX shares. Piper Sandler upped their price target on Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a research note on Thursday, April 18th. Wells Fargo & Company upped their price target on Chevron from $198.00 to $206.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 30th. Raymond James upped their price target on Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a research note on Monday, April 15th. Barclays started coverage on Chevron in a research report on Wednesday, April 10th. They set an “overweight” rating and a $203.00 target price for the company. Finally, UBS Group increased their target price on Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a research report on Tuesday, April 9th. Five research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $186.95.

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.