Mattern Wealth Management LLC Purchases 99 Shares of Chevron Corporation (NYSE:CVX)

Mattern Wealth Management LLC lifted its position in Chevron Corporation (NYSE:CVX) by 0.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,531 shares of the oil and gas company’s stock after buying an additional 99 shares during the quarter. Chevron comprises approximately 0.8% of Mattern Wealth Management LLC’s holdings, making the stock its 25th largest position. Mattern Wealth Management LLC’s holdings in Chevron were worth $3,602,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of CVX. Sage Capital Advisors llc lifted its holdings in shares of Chevron by 2.2% during the first quarter. Sage Capital Advisors llc now owns 42,421 shares of the oil and gas company’s stock worth $7,097,000 after buying an additional 919 shares during the last quarter. CCG Wealth Management LLC grew its stake in shares of Chevron by 2.3% in the first quarter. CCG Wealth Management LLC now owns 6,334 shares of the oil and gas company’s stock worth $1,060,000 after acquiring an additional 145 shares during the last quarter. Pines Wealth Management LLC increased its position in Chevron by 3.3% during the first quarter. Pines Wealth Management LLC now owns 7,808 shares of the oil and gas company’s stock worth $1,306,000 after acquiring an additional 253 shares during the period. Viking Fund Management LLC raised its stake in Chevron by 9.3% during the 1st quarter. Viking Fund Management LLC now owns 117,000 shares of the oil and gas company’s stock valued at $19,573,000 after purchasing an additional 10,000 shares during the last quarter. Finally, Allianz SE acquired a new position in Chevron during the 4th quarter valued at $9,369,000. 72.42% of the stock is owned by institutional investors.

Chevron Price Performance

Shares of Chevron stock opened at $143.67 on Wednesday. The stock has a market capitalization of $250.90 billion, a price-to-earnings ratio of 16.42, a P/E/G ratio of 2.58 and a beta of 0.83. The firm’s 50-day moving average price is $139.78 and its two-hundred day moving average price is $148.49. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.17. Chevron Corporation has a 1-year low of $132.04 and a 1-year high of $168.96.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, topping analysts’ consensus estimates of $2.15 by $0.03. Chevron had a return on equity of 10.73% and a net margin of 7.76%. The business had revenue of $47.61 billion for the quarter, compared to analyst estimates of $49.05 billion. During the same period in the prior year, the company earned $2.93 EPS. Chevron’s revenue for the quarter was down 2.3% on a year-over-year basis. On average, equities analysts predict that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th were given a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 4.76%. The ex-dividend date was Monday, May 19th. Chevron’s payout ratio is presently 78.17%.

Wall Street Analyst Weigh In

Several research firms have issued reports on CVX. Redburn Atlantic restated a “sell” rating and issued a $124.00 price target (down from $156.00) on shares of Chevron in a research report on Wednesday, April 23rd. HSBC cut shares of Chevron from a “buy” rating to a “hold” rating and reduced their target price for the company from $176.00 to $158.00 in a research note on Tuesday, May 13th. DZ Bank lowered Chevron from a “buy” rating to a “sell” rating and set a $130.00 price target on the stock. in a research note on Tuesday, May 6th. Wells Fargo & Company reduced their price objective on Chevron from $173.00 to $164.00 and set an “overweight” rating for the company in a research report on Monday, May 5th. Finally, Barclays lowered Chevron from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $171.00 to $152.00 in a report on Wednesday, April 23rd. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Chevron presently has an average rating of “Hold” and an average price target of $160.24.

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.