Mission Creek Capital Partners Inc. Has $4.72 Million Stock Holdings in Chevron Co. (NYSE:CVX)

Mission Creek Capital Partners Inc. raised its stake in Chevron Co. (NYSE:CVX) by 0.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 32,029 shares of the oil and gas company’s stock after purchasing an additional 179 shares during the period. Chevron accounts for approximately 1.1% of Mission Creek Capital Partners Inc.’s investment portfolio, making the stock its 22nd biggest position. Mission Creek Capital Partners Inc.’s holdings in Chevron were worth $4,717,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Marietta Wealth Management LLC grew its holdings in Chevron by 10.9% in the 3rd quarter. Marietta Wealth Management LLC now owns 40,484 shares of the oil and gas company’s stock valued at $5,962,000 after buying an additional 3,965 shares in the last quarter. Leo Wealth LLC grew its stake in shares of Chevron by 19.6% in the third quarter. Leo Wealth LLC now owns 8,246 shares of the oil and gas company’s stock valued at $1,214,000 after acquiring an additional 1,354 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Chevron by 11.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 31,108,760 shares of the oil and gas company’s stock worth $4,581,137,000 after acquiring an additional 3,203,899 shares during the period. RPG Investment Advisory LLC raised its stake in Chevron by 3.4% in the 3rd quarter. RPG Investment Advisory LLC now owns 121,167 shares of the oil and gas company’s stock worth $17,844,000 after purchasing an additional 3,933 shares in the last quarter. Finally, Garner Asset Management Corp boosted its holdings in Chevron by 14.5% in the 2nd quarter. Garner Asset Management Corp now owns 19,997 shares of the oil and gas company’s stock valued at $3,128,000 after purchasing an additional 2,530 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Activity

In related news, CEO Michael K. Wirth sold 164,600 shares of the firm’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the completion of the transaction, the chief executive officer now directly owns 4,280 shares of the company’s stock, valued at $685,356.40. This trade represents a 97.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.20% of the stock is currently owned by insiders.

Chevron Stock Performance

Shares of Chevron stock opened at $161.90 on Wednesday. The company’s 50 day moving average price is $153.94 and its two-hundred day moving average price is $152.46. The firm has a market capitalization of $290.95 billion, a P/E ratio of 17.79, a P/E/G ratio of 3.58 and a beta of 1.10. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, beating the consensus estimate of $2.47 by $0.04. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The company had revenue of $50.67 billion for the quarter, compared to the consensus estimate of $48.86 billion. During the same quarter last year, the business posted $3.05 EPS. Chevron’s revenue for the quarter was down 6.3% on a year-over-year basis. On average, equities analysts forecast that Chevron Co. will post 10.53 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 4.03%. The ex-dividend date is Monday, November 18th. Chevron’s dividend payout ratio (DPR) is currently 71.65%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Scotiabank dropped their price target on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Barclays upped their target price on Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Royal Bank of Canada increased their target price on Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. Citigroup raised Chevron from a “neutral” rating to a “buy” rating and boosted their price target for the company from $145.00 to $185.00 in a research note on Tuesday, November 26th. Finally, Truist Financial increased their price objective on shares of Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a research note on Monday, November 4th. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $175.63.

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.