Chevron Co. (NYSE:CVX) Shares Purchased by MBL Wealth LLC

MBL Wealth LLC lifted its position in shares of Chevron Co. (NYSE:CVX) by 2.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,123 shares of the oil and gas company’s stock after buying an additional 228 shares during the quarter. MBL Wealth LLC’s holdings in Chevron were worth $1,212,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Windsor Advisory Group LLC increased its stake in shares of Chevron by 24.0% during the 3rd quarter. Windsor Advisory Group LLC now owns 3,720 shares of the oil and gas company’s stock valued at $627,000 after acquiring an additional 720 shares during the last quarter. Dechtman Wealth Management LLC purchased a new position in Chevron during the second quarter worth approximately $648,000. Renaissance Investment Group LLC boosted its holdings in shares of Chevron by 12.7% in the 4th quarter. Renaissance Investment Group LLC now owns 6,187 shares of the oil and gas company’s stock valued at $923,000 after purchasing an additional 697 shares during the last quarter. Altrius Capital Management Inc grew its stake in shares of Chevron by 2.1% during the 3rd quarter. Altrius Capital Management Inc now owns 21,333 shares of the oil and gas company’s stock valued at $3,597,000 after buying an additional 434 shares during the period. Finally, Tsfg LLC increased its holdings in shares of Chevron by 5.3% during the 3rd quarter. Tsfg LLC now owns 3,473 shares of the oil and gas company’s stock worth $586,000 after buying an additional 176 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CVX. DZ Bank cut Chevron from a “buy” rating to a “hold” rating and set a $160.00 target price on the stock. in a report on Tuesday, February 6th. Royal Bank of Canada increased their target price on shares of Chevron from $185.00 to $190.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. UBS Group reduced their price target on shares of Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a research report on Thursday, December 14th. Mizuho raised their price objective on Chevron from $195.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Finally, Jefferies Financial Group raised shares of Chevron from a “hold” rating to a “buy” rating and set a $184.00 target price on the stock in a research report on Monday, January 8th. Seven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, Chevron presently has a consensus rating of “Moderate Buy” and an average price target of $180.39.

Chevron Stock Performance

Shares of NYSE:CVX traded up $1.39 on Friday, reaching $157.74. 8,331,627 shares of the company’s stock were exchanged, compared to its average volume of 8,810,399. Chevron Co. has a fifty-two week low of $139.62 and a fifty-two week high of $172.88. The business’s 50-day moving average is $151.60 and its two-hundred day moving average is $152.67. The company has a quick ratio of 1.01, a current ratio of 1.27 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $292.97 billion, a price-to-earnings ratio of 13.89, a PEG ratio of 2.40 and a beta of 1.12.

Chevron (NYSE:CVX) last issued its earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.19 by $0.26. The firm had revenue of $47.18 billion for the quarter, compared to analysts’ expectations of $50.93 billion. Chevron had a net margin of 10.63% and a return on equity of 15.24%. Chevron’s revenue was down 16.5% on a year-over-year basis. During the same quarter last year, the company posted $4.09 earnings per share. As a group, equities research analysts forecast that Chevron Co. will post 13.04 EPS for the current year.

Chevron Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Friday, February 16th were given a $1.63 dividend. The ex-dividend date was Thursday, February 15th. This is a positive change from Chevron’s previous quarterly dividend of $1.51. This represents a $6.52 annualized dividend and a yield of 4.13%. Chevron’s dividend payout ratio (DPR) is currently 57.39%.

Chevron 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.