MBE Wealth Management LLC Invests $235,000 in Chevron Co. (NYSE:CVX)

MBE Wealth Management LLC acquired a new stake in shares of Chevron Co. (NYSE:CVX) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,621 shares of the oil and gas company’s stock, valued at approximately $235,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Tacita Capital Inc raised its position in shares of Chevron by 16.7% during the third quarter. Tacita Capital Inc now owns 454 shares of the oil and gas company’s stock valued at $67,000 after buying an additional 65 shares during the last quarter. Wallace Capital Management Inc. increased its holdings in Chevron by 0.8% in the 3rd quarter. Wallace Capital Management Inc. now owns 8,229 shares of the oil and gas company’s stock valued at $1,212,000 after acquiring an additional 65 shares during the last quarter. Cyndeo Wealth Partners LLC lifted its stake in Chevron by 0.3% in the 3rd quarter. Cyndeo Wealth Partners LLC now owns 19,769 shares of the oil and gas company’s stock worth $2,911,000 after purchasing an additional 67 shares in the last quarter. S.A. Mason LLC boosted its holdings in shares of Chevron by 0.7% during the 3rd quarter. S.A. Mason LLC now owns 9,033 shares of the oil and gas company’s stock valued at $1,330,000 after purchasing an additional 67 shares during the last quarter. Finally, Jag Capital Management LLC grew its position in shares of Chevron by 5.2% during the third quarter. Jag Capital Management LLC now owns 1,366 shares of the oil and gas company’s stock valued at $201,000 after purchasing an additional 67 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on CVX shares. Truist Financial boosted their target price on Chevron from $160.00 to $164.00 and gave the stock a “hold” rating in a research report on Monday, January 13th. DZ Bank upgraded 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. UBS Group boosted their price target on shares of Chevron from $194.00 to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Bank of America began coverage on shares of Chevron in a research report on Thursday, October 17th. They set a “buy” rating and a $168.00 price objective for the company. Finally, Scotiabank reduced their target price on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Chevron presently has a consensus rating of “Moderate Buy” and a consensus price target of $175.27.

Chevron Trading Down 0.6 %

CVX opened at $156.24 on Wednesday. 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 stock’s 50 day moving average price is $153.74 and its 200-day moving average price is $151.12. Chevron Co. has a one year low of $135.37 and a one year high of $167.11. The stock has a market cap of $280.78 billion, a price-to-earnings ratio of 17.17, a P/E/G ratio of 1.37 and a beta of 1.12.

Chevron (NYSE:CVX) last released its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, topping the consensus estimate of $2.47 by $0.04. The business had revenue of $50.67 billion during the quarter, compared to the consensus estimate of $48.86 billion. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The business’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same period last year, the company earned $3.05 earnings per share. On average, equities analysts forecast that Chevron Co. will post 10.18 EPS for the current year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th were paid a $1.63 dividend. The ex-dividend date was Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a yield of 4.17%. Chevron’s dividend payout ratio is currently 71.65%.

Insider Activity

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

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.