Mattern Wealth Management LLC Sells 299 Shares of Chevron Corporation $CVX

Mattern Wealth Management LLC cut its stake in Chevron Corporation (NYSE:CVX) by 1.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 21,232 shares of the oil and gas company’s stock after selling 299 shares during the period. Mattern Wealth Management LLC’s holdings in Chevron were worth $3,040,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Kingstone Capital Partners Texas LLC boosted its position in shares of Chevron by 652,139.5% during the second quarter. Kingstone Capital Partners Texas LLC now owns 83,714,936 shares of the oil and gas company’s stock worth $13,214,757,000 after buying an additional 83,702,101 shares during the period. GQG Partners LLC acquired a new position in Chevron during the 1st quarter worth approximately $1,466,751,000. Nuveen LLC bought a new position in shares of Chevron during the 1st quarter worth approximately $1,362,232,000. Charles Schwab Investment Management Inc. grew its stake in shares of Chevron by 4.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 33,430,030 shares of the oil and gas company’s stock worth $5,592,263,000 after acquiring an additional 1,574,464 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its holdings in shares of Chevron by 141.2% in the first quarter. Canada Pension Plan Investment Board now owns 1,891,824 shares of the oil and gas company’s stock valued at $316,483,000 after purchasing an additional 1,107,628 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Buying and Selling at Chevron

In other Chevron news, Director John B. Hess sold 375,000 shares of Chevron stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $158.30, for a total transaction of $59,362,500.00. Following the transaction, the director directly owned 1,403,045 shares of the company’s stock, valued at $222,102,023.50. The trade was a 21.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Alana K. Knowles sold 3,978 shares of Chevron stock in a transaction on Friday, August 29th. The stock was sold at an average price of $160.00, for a total transaction of $636,480.00. Following the transaction, the vice president directly owned 1,181 shares in the company, valued at $188,960. This represents a 77.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on CVX shares. Raymond James Financial reissued an “outperform” rating on shares of Chevron in a research report on Friday, August 1st. TD Cowen increased their price target on shares of Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a report on Monday, August 4th. Bank of America lifted their target price on Chevron from $170.00 to $185.00 and gave the stock a “buy” rating in a report on Wednesday, September 10th. UBS Group increased their price target on Chevron from $186.00 to $197.00 and gave the stock a “buy” rating in a research report on Wednesday, August 20th. Finally, Mizuho decreased their target price on shares of Chevron from $192.00 to $191.00 and set an “outperform” rating on the stock in a report on Monday, September 15th. Eleven analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $165.05.

Chevron Price Performance

Shares of NYSE:CVX opened at $156.13 on Tuesday. The stock’s 50 day moving average is $156.17 and its 200-day moving average is $149.09. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $269.79 billion, a price-to-earnings ratio of 20.09, a PEG ratio of 2.00 and a beta of 0.90.

Chevron (NYSE:CVX) last posted its earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $0.19. The company had revenue of $44.82 billion for the quarter, compared to analyst estimates of $44.59 billion. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The firm’s revenue was down 12.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.55 EPS. Sell-side analysts forecast that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th were given a dividend of $1.71 per share. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.4%. Chevron’s payout ratio is presently 88.03%.

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.