Mango Investments LLC Acquires New Position in Chevron Co. (NYSE:CVX)

Mango Investments LLC bought a new position in shares of Chevron Co. (NYSE:CVXFree Report) during the 4th quarter, Holdings Channel reports. The firm bought 2,275 shares of the oil and gas company’s stock, valued at approximately $339,000. Chevron makes up 0.2% of Mango Investments LLC’s investment portfolio, making the stock its 21st biggest position.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Bare Financial Services Inc acquired a new position in Chevron during the fourth quarter worth about $27,000. Frank Rimerman Advisors LLC acquired a new stake in shares of Chevron during the fourth quarter worth $30,000. Valued Wealth Advisors LLC purchased a new position in shares of Chevron in the 4th quarter worth $33,000. Clear Investment Research LLC raised its holdings in Chevron by 264.9% in the fourth quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock valued at $42,000 after buying an additional 204 shares during the period. Finally, Gold Investment Management Ltd. acquired a new position in shares of Chevron during the 4th quarter valued at $49,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 3,750 shares of the business’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $160.23, for a total value of $600,862.50. Following the completion of the transaction, the vice president now directly owns 477 shares of the company’s stock, valued at $76,429.71. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, VP Jeff B. Gustavson sold 3,750 shares of the company’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $160.23, for a total transaction of $600,862.50. Following the completion of the transaction, the vice president now directly owns 477 shares of the company’s stock, valued at $76,429.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Enrique Hernandez, Jr. sold 5,098 shares of the company’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $163.50, for a total value of $833,523.00. Following the transaction, the director now directly owns 2,549 shares of the company’s stock, valued at $416,761.50. The disclosure for this sale can be found here. Insiders sold a total of 19,546 shares of company stock worth $3,176,223 over the last 90 days. 0.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

CVX has been the subject of a number of recent research reports. Raymond James increased their target price on Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a research note on Monday, April 15th. Piper Sandler raised their target price on Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a research note on Thursday, April 18th. Mizuho increased their target price on Chevron from $200.00 to $205.00 and gave the company a “buy” rating in a research note on Monday, May 13th. The Goldman Sachs Group reiterated a “buy” rating on shares of Chevron in a research note on Monday, April 1st. Finally, Scotiabank raised Chevron from a “sector perform” rating to a “sector outperform” rating and increased their target price for the stock from $170.00 to $195.00 in a research report on Thursday, April 11th. Five analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $186.95.

Read Our Latest Stock Report on CVX

Chevron Stock Performance

Shares of NYSE:CVX traded down $3.20 during trading on Wednesday, hitting $153.29. 5,972,140 shares of the stock were exchanged, compared to its average volume of 7,996,073. The company’s fifty day simple moving average is $160.41 and its 200-day simple moving average is $153.74. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.93 and a current ratio of 1.23. The company has a market capitalization of $282.51 billion, a price-to-earnings ratio of 14.29, a price-to-earnings-growth ratio of 2.33 and a beta of 1.12. Chevron Co. has a 1-year low of $139.62 and a 1-year high of $171.70.

Chevron (NYSE:CVXGet Free Report) last issued its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.84 by $0.09. Chevron had a return on equity of 14.40% and a net margin of 10.21%. The firm had revenue of $48.72 billion during the quarter, compared to the consensus estimate of $48.42 billion. During the same quarter in the previous year, the company posted $3.55 EPS. The business’s revenue for the quarter was down 4.1% compared to the same quarter last year. Sell-side analysts expect that Chevron Co. will post 13.45 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 17th were given a dividend of $1.63 per share. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.25%. Chevron’s payout ratio is currently 59.98%.

About Chevron

(Free Report)

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.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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