MN Wealth Advisors LLC Buys 2,101 Shares of Chevron Co. (NYSE:CVX)

MN Wealth Advisors LLC increased its stake in Chevron Co. (NYSE:CVX) by 369.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,669 shares of the oil and gas company’s stock after purchasing an additional 2,101 shares during the quarter. MN Wealth Advisors LLC’s holdings in Chevron were worth $391,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Secured Retirement Advisors LLC raised its holdings in shares of Chevron by 8.8% in the 4th quarter. Secured Retirement Advisors LLC now owns 14,480 shares of the oil and gas company’s stock worth $2,097,000 after purchasing an additional 1,176 shares during the period. Strategic Financial Concepts LLC raised its holdings in shares of Chevron by 212.4% in the 4th quarter. Strategic Financial Concepts LLC now owns 5,352 shares of the oil and gas company’s stock worth $775,000 after purchasing an additional 3,639 shares during the period. Allworth Financial LP raised its holdings in shares of Chevron by 31.0% in the 4th quarter. Allworth Financial LP now owns 339,868 shares of the oil and gas company’s stock worth $53,159,000 after purchasing an additional 80,428 shares during the period. Principal Securities Inc. raised its holdings in shares of Chevron by 11.2% in the 4th quarter. Principal Securities Inc. now owns 51,630 shares of the oil and gas company’s stock worth $7,478,000 after purchasing an additional 5,202 shares during the period. Finally, Centerpoint Advisory Group bought a new stake in shares of Chevron in the 4th quarter worth approximately $936,000. Institutional investors own 72.42% of the company’s stock.

Chevron Trading Down 0.4 %

Chevron stock opened at $155.32 on Friday. The stock has a market cap of $279.12 billion, a P/E ratio of 15.98, a PEG ratio of 1.39 and a beta of 1.11. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11. The firm’s fifty day moving average price is $151.86 and its 200-day moving average price is $150.86. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07.

Chevron (NYSE:CVX) last announced its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a return on equity of 11.44% and a net margin of 8.71%. During the same quarter in the previous year, the business earned $3.45 earnings per share. Equities research analysts forecast that Chevron Co. will post 10.84 earnings per share for the current fiscal year.

Chevron Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be given a $1.71 dividend. The ex-dividend date of this dividend is Friday, February 14th. This is a positive change from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 4.40%. Chevron’s payout ratio is 67.08%.

Insider Buying and Selling

In related news, VP Jeff B. Gustavson sold 9,325 shares of the company’s stock in a transaction on 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 completion of the transaction, the vice president now directly owns 1,057 shares in the company, valued at approximately $161,192.50. The trade was a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on CVX shares. Truist Financial lowered their price target on shares of Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a report on Tuesday, February 4th. Piper Sandler lowered their target price on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. UBS Group lowered their target price on shares of Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a report on Monday, February 3rd. Royal Bank of Canada reissued an “outperform” rating and set a $175.00 target price on shares of Chevron in a report on Monday, February 3rd. Finally, Wells Fargo & Company lowered their target price on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $174.13.

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.