Mainsail Financial Group LLC Boosts Position in Chevron Co. (NYSE:CVX)

Mainsail Financial Group LLC grew its stake in Chevron Co. (NYSE:CVX) by 6.3% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 4,680 shares of the oil and gas company’s stock after purchasing an additional 276 shares during the period. Mainsail Financial Group LLC’s holdings in Chevron were worth $732,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. American Capital Advisory LLC boosted its position in shares of Chevron by 403.2% in the 1st quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 125 shares during the period. Bare Financial Services Inc purchased a new stake in shares of Chevron during the fourth quarter worth about $27,000. Frank Rimerman Advisors LLC acquired a new stake in shares of Chevron during the 4th quarter valued at approximately $30,000. Cooksen Wealth LLC acquired a new position in Chevron during the 4th quarter valued at about $40,000. Finally, Clear Investment Research LLC lifted its position in Chevron by 264.9% in the fourth quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock worth $42,000 after purchasing an additional 204 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Buying and Selling

In other Chevron news, VP Jeff B. Gustavson sold 3,750 shares of the stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $160.23, for a total transaction of $600,862.50. Following the completion of the transaction, the vice president now directly owns 477 shares of the company’s stock, valued at $76,429.71. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.20% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently commented on CVX shares. Wells Fargo & Company boosted their price target on shares of Chevron from $198.00 to $206.00 and gave the company an “overweight” rating in a report on Tuesday, April 30th. Truist Financial reduced their price target on shares of Chevron from $156.00 to $154.00 and set a “hold” rating on the stock in a research report on Monday, August 5th. Wolfe Research started coverage on Chevron in a research report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Barclays cut their price objective on shares of Chevron from $203.00 to $185.00 and set an “overweight” rating on the stock in a report on Tuesday, August 6th. Finally, Royal Bank of Canada lowered their target price on shares of Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a research note on Monday, August 5th. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $183.82.

Chevron Trading Up 0.3 %

NYSE CVX traded up $0.48 during trading hours on Wednesday, reaching $144.63. The company’s stock had a trading volume of 3,016,885 shares, compared to its average volume of 7,880,939. The stock has a market cap of $266.55 billion, a P/E ratio of 13.21, a P/E/G ratio of 2.42 and a beta of 1.10. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85. Chevron Co. has a 52 week low of $139.62 and a 52 week high of $171.70. The firm has a fifty day simple moving average of $154.39 and a 200-day simple moving average of $156.08.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). Chevron had a return on equity of 13.70% and a net margin of 9.31%. The business had revenue of $51.18 billion for the quarter, compared to the consensus estimate of $48.68 billion. During the same quarter in the previous year, the company posted $3.08 earnings per share. Chevron’s quarterly revenue was up 4.7% on a year-over-year basis. Equities analysts forecast that Chevron Co. will post 11.96 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 19th will be issued a dividend of $1.63 per share. The ex-dividend date of this dividend is Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a yield of 4.51%. Chevron’s dividend payout ratio (DPR) is currently 59.98%.

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.