Chevron Co. (NYSE:CVX) Shares Purchased by Mission Wealth Management LP

Posted by on Jun 21st, 2023

Mission Wealth Management LP increased its stake in shares of Chevron Co. (NYSE:CVX – Get Rating) by 9.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 29,181 shares of the oil and gas company’s stock after purchasing an additional 2,412 shares during the period. Mission Wealth Management LP’s holdings in Chevron were worth $4,761,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of CVX. Rebalance LLC acquired a new stake in Chevron in the 4th quarter valued at about $26,000. Worth Asset Management LLC purchased a new stake in shares of Chevron in the 1st quarter valued at approximately $36,000. Red Tortoise LLC purchased a new stake in shares of Chevron in the 4th quarter valued at approximately $37,000. Western Pacific Wealth Management LP purchased a new stake in shares of Chevron in the 4th quarter valued at approximately $37,000. Finally, JDM Financial Group LLC purchased a new stake in shares of Chevron in the 4th quarter valued at approximately $42,000. Institutional investors and hedge funds own 69.65% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. BNP Paribas raised shares of Chevron from an “underperform” rating to a “neutral” rating and set a $200.00 price objective for the company in a research report on Tuesday, April 4th. Truist Financial lowered their price objective on shares of Chevron from $193.00 to $190.00 in a research report on Monday, May 1st. UBS Group began coverage on shares of Chevron in a research report on Wednesday, April 19th. They issued a “buy” rating and a $212.00 price target for the company. Piper Sandler reduced their price objective on shares of Chevron from $196.00 to $188.00 in a report on Tuesday, June 13th. Finally, Scotiabank upgraded shares of Chevron from a “sector perform” rating to a “sector outperform” rating and raised their price objective for the company from $195.00 to $200.00 in a report on Thursday, April 13th. Nine analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, Chevron currently has an average rating of “Moderate Buy” and a consensus target price of $191.68.

Chevron Price Performance

Shares of CVX stock opened at $153.71 on Wednesday. The firm has a market cap of $291.23 billion, a P/E ratio of 8.30, a P/E/G ratio of 0.80 and a beta of 1.17. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.43 and a quick ratio of 1.16. Chevron Co. has a 1-year low of $132.54 and a 1-year high of $189.68. The firm has a fifty day moving average of $160.05 and a two-hundred day moving average of $166.02.

Chevron (NYSE:CVX – Get Rating) last announced its quarterly earnings data on Friday, April 28th. The oil and gas company reported $3.55 earnings per share for the quarter, topping the consensus estimate of $3.41 by $0.14. The company had revenue of $50.79 billion during the quarter, compared to analyst estimates of $49.49 billion. Chevron had a net margin of 14.74% and a return on equity of 23.15%. The firm’s revenue for the quarter was down 6.6% compared to the same quarter last year. During the same period last year, the business earned $3.36 EPS. As a group, research analysts anticipate that Chevron Co. will post 13.82 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 12th. Stockholders of record on Friday, May 19th were given a $1.51 dividend. The ex-dividend date of this dividend was Thursday, May 18th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 3.93%. Chevron’s payout ratio is currently 32.61%.

Chevron Company Profile

(Get Rating)

Chevron Corp. engages in the provision of administrative, financial management, and technology support for energy and chemical operations. It operates through the Upstream and Downstream segments. The Upstream segment consists of the exploration, development, and production of crude oil and natural gas, the liquefaction, transportation, and regasification associated with liquefied natural gas, the transporting of crude oil by major international oil export pipelines, the processing, transporting, storage, and marketing of natural gas, and a gas-to-liquids plant.

Featured Articles

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:CVX – Get 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.