MBL Wealth LLC Grows Holdings in Chevron Co. (NYSE:CVX)

MBL Wealth LLC lifted its position in shares of Chevron Co. (NYSE:CVX) by 2.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,123 shares of the oil and gas company’s stock after acquiring an additional 228 shares during the quarter. MBL Wealth LLC’s holdings in Chevron were worth $1,212,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Moneta Group Investment Advisors LLC lifted its holdings in Chevron by 104,997.3% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 24,490,824 shares of the oil and gas company’s stock valued at $4,395,858,000 after purchasing an additional 24,467,521 shares in the last quarter. Norges Bank acquired a new position in shares of Chevron during the 4th quarter worth about $3,058,235,000. Imprint Wealth LLC boosted its holdings in Chevron by 15,457.0% in the 2nd quarter. Imprint Wealth LLC now owns 5,378,354 shares of the oil and gas company’s stock worth $537,835,000 after buying an additional 5,343,782 shares during the last quarter. Morgan Stanley increased its stake in Chevron by 12.7% during the 4th quarter. Morgan Stanley now owns 32,906,060 shares of the oil and gas company’s stock worth $5,906,309,000 after buying an additional 3,711,923 shares in the last quarter. Finally, Lazard Asset Management LLC raised its holdings in shares of Chevron by 570.0% during the fourth quarter. Lazard Asset Management LLC now owns 2,813,051 shares of the oil and gas company’s stock valued at $504,913,000 after acquiring an additional 2,393,200 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on CVX shares. Jefferies Financial Group raised Chevron from a “hold” rating to a “buy” rating and set a $184.00 price target on the stock in a research note on Monday, January 8th. TD Cowen lowered shares of Chevron from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $170.00 to $150.00 in a report on Tuesday, January 23rd. Scotiabank downgraded shares of Chevron from a “sector outperform” rating to a “sector perform” rating and set a $170.00 price target on the stock. in a research note on Tuesday, January 16th. Piper Sandler cut their price objective on shares of Chevron from $188.00 to $180.00 and set an “overweight” rating for the company in a report on Thursday, March 14th. Finally, Royal Bank of Canada boosted their target price on Chevron from $185.00 to $190.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. Seven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $180.39.

Chevron Trading Up 0.9 %

Shares of Chevron stock traded up $1.39 on Friday, reaching $157.74. The company had a trading volume of 8,331,627 shares, compared to its average volume of 8,810,399. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.27. The firm has a market cap of $292.97 billion, a PE ratio of 13.89, a PEG ratio of 2.40 and a beta of 1.12. The firm’s 50 day moving average price is $151.60 and its two-hundred day moving average price is $152.67. Chevron Co. has a 52-week low of $139.62 and a 52-week high of $172.88.

Chevron (NYSE:CVX) last announced its earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.19 by $0.26. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The company had revenue of $47.18 billion for the quarter, compared to analyst estimates of $50.93 billion. During the same quarter in the previous year, the company earned $4.09 earnings per share. The firm’s quarterly revenue was down 16.5% compared to the same quarter last year. Sell-side analysts predict that Chevron Co. will post 13.04 earnings per share for the current fiscal year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Friday, February 16th were paid a dividend of $1.63 per share. This is a positive change from Chevron’s previous quarterly dividend of $1.51. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $6.52 annualized dividend and a yield of 4.13%. Chevron’s dividend payout ratio is presently 57.39%.

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.