Magnus Financial Group LLC Raises Position in Chevron Co. (NYSE:CVX)

Magnus Financial Group LLC increased its holdings in Chevron Co. (NYSE:CVXGet Rating) by 21.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,973 shares of the oil and gas company’s stock after buying an additional 1,957 shares during the period. Magnus Financial Group LLC’s holdings in Chevron were worth $1,288,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Avondale Wealth Management bought a new position in Chevron in the 4th quarter valued at $26,000. Rational Advisors LLC lifted its holdings in shares of Chevron by 116.3% during the 4th quarter. Rational Advisors LLC now owns 225 shares of the oil and gas company’s stock worth $26,000 after acquiring an additional 121 shares during the last quarter. Bellwether Advisors LLC bought a new stake in shares of Chevron during the 3rd quarter worth $25,000. Cranbrook Wealth Management LLC lifted its holdings in shares of Chevron by 63.5% during the 3rd quarter. Cranbrook Wealth Management LLC now owns 260 shares of the oil and gas company’s stock worth $26,000 after acquiring an additional 101 shares during the last quarter. Finally, Curi Wealth Management LLC bought a new stake in shares of Chevron during the 4th quarter worth $30,000. 65.89% of the stock is owned by institutional investors.

NYSE:CVX traded up $3.16 during mid-day trading on Friday, hitting $167.87. 9,229,903 shares of the company’s stock were exchanged, compared to its average volume of 10,133,212. Chevron Co. has a one year low of $92.86 and a one year high of $174.76. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.43 and a quick ratio of 1.22. The business has a fifty day moving average price of $165.05 and a 200 day moving average price of $138.72. The company has a market cap of $329.83 billion, a PE ratio of 15.78, a P/E/G ratio of 0.82 and a beta of 1.09.

Chevron (NYSE:CVXGet Rating) last posted its quarterly earnings data on Friday, April 29th. The oil and gas company reported $3.36 EPS for the quarter, missing the consensus estimate of $3.44 by ($0.08). Chevron had a return on equity of 14.66% and a net margin of 11.10%. The business had revenue of $54.37 billion for the quarter, compared to the consensus estimate of $54.96 billion. During the same period in the previous year, the firm earned $0.90 EPS. The company’s revenue was up 69.8% on a year-over-year basis. On average, equities analysts forecast that Chevron Co. will post 17.15 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 10th. Investors of record on Thursday, May 19th will be paid a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a yield of 3.38%. The ex-dividend date of this dividend is Wednesday, May 18th. Chevron’s payout ratio is currently 53.38%.

In other news, VP Colin E. Parfitt sold 15,500 shares of the company’s stock in a transaction that occurred on Tuesday, February 22nd. The shares were sold at an average price of $132.91, for a total value of $2,060,105.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Pierre R. Breber sold 18,500 shares of the business’s stock in a transaction that occurred on Tuesday, February 22nd. The shares were sold at an average price of $132.90, for a total transaction of $2,458,650.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 452,115 shares of company stock worth $69,708,842. Insiders own 0.32% of the company’s stock.

A number of analysts have recently issued reports on the stock. Piper Sandler lifted their price objective on shares of Chevron from $150.00 to $173.00 and gave the stock an “overweight” rating in a report on Wednesday, March 2nd. Credit Suisse Group lifted their target price on shares of Chevron from $180.00 to $190.00 in a research report on Monday, May 2nd. Truist Financial decreased their target price on shares of Chevron from $186.00 to $181.00 in a research report on Monday, May 2nd. UBS Group lifted their target price on shares of Chevron from $150.00 to $192.00 and gave the stock a “buy” rating in a research report on Tuesday, April 5th. Finally, The Goldman Sachs Group lifted their target price on shares of Chevron from $154.00 to $176.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 15th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $165.43.

About Chevron (Get Rating)

Chevron Corporation, through its subsidiaries, engages in integrated energy and chemicals operations worldwide. 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 associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.

Featured Stories

Want to see what other hedge funds are holding CVX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chevron Co. (NYSE:CVXGet Rating).

Institutional Ownership by Quarter for Chevron (NYSE:CVX)

Receive News & Ratings for Chevron Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chevron and related companies with MarketBeat.com's FREE daily email newsletter.