Mainstream Capital Management LLC Boosts Position in Chevron Co. (NYSE:CVX)

Mainstream Capital Management LLC raised its holdings in shares of Chevron Co. (NYSE:CVX) by 2.2% in the 4th quarter, HoldingsChannel.com reports. The fund owned 5,958 shares of the oil and gas company’s stock after buying an additional 126 shares during the quarter. Mainstream Capital Management LLC’s holdings in Chevron were worth $863,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of CVX. Pettinga Financial Advisors LLC lifted its stake in Chevron by 10.1% during the 3rd quarter. Pettinga Financial Advisors LLC now owns 2,972 shares of the oil and gas company’s stock valued at $438,000 after acquiring an additional 272 shares during the period. Van ECK Associates Corp lifted its stake in Chevron by 45.8% during the 3rd quarter. Van ECK Associates Corp now owns 640,246 shares of the oil and gas company’s stock valued at $96,344,000 after acquiring an additional 201,189 shares during the period. IAG Wealth Partners LLC lifted its stake in Chevron by 4.3% during the 3rd quarter. IAG Wealth Partners LLC now owns 2,374 shares of the oil and gas company’s stock valued at $350,000 after acquiring an additional 98 shares during the period. Harbour Investment Management LLC lifted its stake in Chevron by 17.7% during the 3rd quarter. Harbour Investment Management LLC now owns 18,239 shares of the oil and gas company’s stock valued at $2,686,000 after acquiring an additional 2,749 shares during the period. Finally, Forum Financial Management LP lifted its stake in Chevron by 2.8% during the 3rd quarter. Forum Financial Management LP now owns 32,401 shares of the oil and gas company’s stock valued at $4,772,000 after acquiring an additional 877 shares during the period. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CVX has been the subject of several recent research reports. Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and lifted their target price for the company from $145.00 to $185.00 in a report on Tuesday, November 26th. Piper Sandler cut their target price on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. UBS Group cut their target price on shares of Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a report on Monday, February 3rd. Truist Financial cut their target price on shares of Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a report on Tuesday, February 4th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $175.00 price target on shares of Chevron in a report on Monday, February 3rd. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $174.13.

Insider Buying and Selling at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the company’s stock in a transaction dated 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 $161,192.50. This represents a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.20% of the stock is currently owned by corporate insiders.

Chevron Trading Down 3.5 %

Shares of CVX stock opened at $153.05 on Tuesday. The company’s 50-day moving average price is $153.35 and its 200-day moving average price is $151.58. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The stock has a market cap of $269.46 billion, a price-to-earnings ratio of 15.75, a PEG ratio of 1.46 and a beta of 1.11. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share for the quarter, missing the consensus estimate 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 last year, the firm posted $3.45 EPS. As a group, equities analysts predict that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be given a dividend of $1.71 per share. This is a boost from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.84 annualized dividend and a dividend yield of 4.47%. Chevron’s payout ratio is presently 70.37%.

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.