Mendel Money Management Sells 225 Shares of Chevron Co. (NYSE:CVX)

Mendel Money Management lowered its position in Chevron Co. (NYSE:CVX) by 1.8% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 12,217 shares of the oil and gas company’s stock after selling 225 shares during the period. Mendel Money Management’s holdings in Chevron were worth $1,769,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. State Street Corp boosted its holdings in shares of Chevron by 0.6% during the 3rd quarter. State Street Corp now owns 159,105,244 shares of the oil and gas company’s stock worth $23,431,429,000 after buying an additional 874,962 shares in the last quarter. Nicholas Company Inc. boosted its stake in Chevron by 4.3% during the fourth quarter. Nicholas Company Inc. now owns 80,025 shares of the oil and gas company’s stock worth $11,591,000 after acquiring an additional 3,280 shares in the last quarter. Dale Q Rice Investment Management Ltd acquired a new stake in Chevron in the fourth quarter worth $594,000. Unified Investment Management bought a new stake in Chevron in the fourth quarter valued at $729,000. Finally, ING Groep NV raised its holdings in shares of Chevron by 3,942.6% during the fourth quarter. ING Groep NV now owns 200,998 shares of the oil and gas company’s stock valued at $29,113,000 after purchasing an additional 196,026 shares during the period. 72.42% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, VP Jeff B. Gustavson sold 9,325 shares of the company’s stock in a transaction on Friday, February 7th. The shares were 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 of the company’s stock, valued at approximately $161,192.50. This represents a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CVX. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $175.00 target price on shares of Chevron in a research report on Monday, February 3rd. Truist Financial cut their target price on Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a report on Tuesday, February 4th. Barclays decreased their price target on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. Piper Sandler decreased their target price on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Finally, Raymond James dropped their price target on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a research report on Monday, February 3rd. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $174.13.

Chevron Trading Up 0.6 %

Shares of Chevron stock opened at $165.93 on Wednesday. The stock has a market capitalization of $292.14 billion, a P/E ratio of 17.07, a P/E/G ratio of 1.46 and a beta of 1.08. 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 simple moving average is $156.67 and its 200 day simple moving average is $153.01. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $167.82.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 earnings per share 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 quarter in the previous year, the business earned $3.45 earnings per share. As a group, research analysts anticipate that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were paid a dividend of $1.71 per share. The ex-dividend date was Friday, February 14th. This represents a $6.84 annualized dividend and a yield of 4.12%. This is a boost from Chevron’s previous quarterly dividend of $1.63. Chevron’s payout ratio is currently 70.37%.

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.