Mitchell & Pahl Private Wealth LLC Grows Stock Position in Chevron Co. (NYSE:CVX)

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

A number of other large investors have also bought and sold shares of the company. Marietta Wealth Management LLC boosted its holdings in shares of Chevron by 10.9% in the third quarter. Marietta Wealth Management LLC now owns 40,484 shares of the oil and gas company’s stock worth $5,962,000 after acquiring an additional 3,965 shares during the period. Leo Wealth LLC boosted its holdings in shares of Chevron by 19.6% in the third quarter. Leo Wealth LLC now owns 8,246 shares of the oil and gas company’s stock worth $1,214,000 after acquiring an additional 1,354 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Chevron by 11.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 31,108,760 shares of the oil and gas company’s stock worth $4,581,137,000 after acquiring an additional 3,203,899 shares during the period. RPG Investment Advisory LLC boosted its holdings in shares of Chevron by 3.4% in the third quarter. RPG Investment Advisory LLC now owns 121,167 shares of the oil and gas company’s stock worth $17,844,000 after acquiring an additional 3,933 shares during the period. Finally, State Street Corp boosted its holdings in shares of Chevron by 0.6% in the third quarter. State Street Corp now owns 159,105,244 shares of the oil and gas company’s stock worth $23,431,429,000 after acquiring an additional 874,962 shares during the period. 72.42% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Chevron

In related news, CEO Michael K. Wirth sold 164,600 shares of the business’s stock in a transaction dated 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 owns 4,280 shares in the company, valued at $685,356.40. The trade was a 97.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on CVX shares. Barclays raised their price target on Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Bank of America initiated coverage on Chevron in a research note on Thursday, October 17th. They set a “buy” rating and a $168.00 price objective for the company. UBS Group lifted their price objective on Chevron from $194.00 to $195.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Truist Financial lifted their price objective on Chevron from $160.00 to $164.00 and gave the company a “hold” rating in a research note on Monday, January 13th. Finally, Raymond James lifted their price objective on Chevron from $175.00 to $180.00 and gave the company an “outperform” rating in a research note on Friday, January 17th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, Chevron presently has a consensus rating of “Moderate Buy” and an average price target of $175.27.

Chevron Stock Down 2.0 %

CVX opened at $158.16 on Wednesday. The company has a market cap of $284.23 billion, a P/E ratio of 17.38, a P/E/G ratio of 1.46 and a beta of 1.12. The business’s 50-day moving average price is $154.03 and its 200-day moving average price is $151.04. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $167.11.

Chevron (NYSE:CVX) last released 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 for 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 company’s quarterly revenue was down 6.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.05 earnings per share. On average, equities analysts expect 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 issued 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 is currently 71.65%.

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.