MN Wealth Advisors LLC Buys 2,101 Shares of Chevron Co. (NYSE:CVX)

MN Wealth Advisors LLC raised its stake in shares of Chevron Co. (NYSE:CVX) by 369.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,669 shares of the oil and gas company’s stock after purchasing an additional 2,101 shares during the period. MN Wealth Advisors LLC’s holdings in Chevron were worth $391,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of CVX. Marshall Financial Group LLC bought a new position in Chevron during the 3rd quarter worth $202,000. AlphaMark Advisors LLC raised its position in Chevron by 19.6% during the 3rd quarter. AlphaMark Advisors LLC now owns 1,233 shares of the oil and gas company’s stock worth $182,000 after purchasing an additional 202 shares during the last quarter. Stratos Wealth Partners LTD. raised its position in shares of Chevron by 0.4% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 70,768 shares of the oil and gas company’s stock worth $10,422,000 after acquiring an additional 261 shares in the last quarter. Stratos Investment Management LLC raised its position in shares of Chevron by 15.4% in the 3rd quarter. Stratos Investment Management LLC now owns 33,337 shares of the oil and gas company’s stock worth $4,910,000 after acquiring an additional 4,443 shares in the last quarter. Finally, Precedent Wealth Partners LLC raised its position in shares of Chevron by 9.5% in the 3rd quarter. Precedent Wealth Partners LLC now owns 10,872 shares of the oil and gas company’s stock worth $1,601,000 after acquiring an additional 945 shares in the last quarter. 72.42% of the stock is owned by institutional investors.

Insider Buying and Selling at Chevron

In other news, VP Jeff B. Gustavson sold 9,325 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $152.50, for a total value of $1,422,062.50. Following the transaction, the vice president now owns 1,057 shares in the company, valued at $161,192.50. The trade was a 89.82 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Truist Financial lowered their price objective on Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research report on Tuesday, February 4th. DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective for the company in a research report on Tuesday, November 5th. Citigroup raised Chevron from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $145.00 to $185.00 in a research report on Tuesday, November 26th. Raymond James lowered their price objective on Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research report on Monday, February 3rd. Finally, Wells Fargo & Company decreased their target price on Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Chevron currently has a consensus rating of “Moderate Buy” and a consensus target price of $174.13.

Chevron Price Performance

CVX stock opened at $155.32 on Friday. The company has a market capitalization of $279.12 billion, a P/E ratio of 15.98, a price-to-earnings-growth ratio of 1.39 and a beta of 1.11. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $167.11. The business has a 50-day simple moving average of $151.86 and a two-hundred day simple moving average of $150.86.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.36). Chevron had a net margin of 8.71% and a return on equity of 11.44%. During the same period last year, the company posted $3.45 EPS. Research analysts expect that Chevron Co. will post 10.84 EPS for the current fiscal year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders 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 represents a $6.84 dividend on an annualized basis and a yield of 4.40%. This is an increase from Chevron’s previous quarterly dividend of $1.63. Chevron’s payout ratio is 67.08%.

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.