Magnus Financial Group LLC Purchases 325 Shares of Chevron Co. (NYSE:CVX)

Magnus Financial Group LLC lifted its holdings in shares of Chevron Co. (NYSE:CVX) by 2.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,694 shares of the oil and gas company’s stock after buying an additional 325 shares during the period. Magnus Financial Group LLC’s holdings in Chevron were worth $2,043,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of CVX. Sweet Financial Partners LLC boosted its holdings in Chevron by 0.7% in the third quarter. Sweet Financial Partners LLC now owns 8,761 shares of the oil and gas company’s stock worth $1,477,000 after acquiring an additional 65 shares in the last quarter. Strategic Investment Advisors MI grew its stake in shares of Chevron by 3.8% in the third quarter. Strategic Investment Advisors MI now owns 1,758 shares of the oil and gas company’s stock worth $296,000 after acquiring an additional 65 shares during the period. Regent Peak Wealth Advisors LLC raised its holdings in shares of Chevron by 1.4% during the third quarter. Regent Peak Wealth Advisors LLC now owns 5,081 shares of the oil and gas company’s stock valued at $857,000 after purchasing an additional 68 shares during the last quarter. Octavia Wealth Advisors LLC lifted its holdings in shares of Chevron by 1.3% during the 4th quarter. Octavia Wealth Advisors LLC now owns 5,254 shares of the oil and gas company’s stock valued at $784,000 after buying an additional 68 shares during the period. Finally, Investment Partners LTD. grew its stake in shares of Chevron by 0.8% during the 4th quarter. Investment Partners LTD. now owns 8,124 shares of the oil and gas company’s stock valued at $1,212,000 after purchasing an additional 68 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Up 0.4 %

Shares of NYSE CVX traded up $0.61 during mid-day trading on Friday, reaching $165.89. 9,736,350 shares of the company were exchanged, compared to its average volume of 7,082,480. The firm has a 50-day moving average of $156.58 and a 200 day moving average of $151.73. Chevron Co. has a 1 year low of $139.62 and a 1 year high of $171.70. The company has a quick ratio of 1.01, a current ratio of 1.27 and a debt-to-equity ratio of 0.13. The stock has a market cap of $308.10 billion, a price-to-earnings ratio of 15.26, a P/E/G ratio of 2.44 and a beta of 1.12.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, beating the consensus estimate of $2.84 by $0.09. The business had revenue of $48.72 billion during the quarter, compared to analyst estimates of $48.42 billion. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The company’s quarterly revenue was down 4.1% on a year-over-year basis. During the same period in the prior year, the firm posted $3.55 earnings per share. On average, research analysts expect that Chevron Co. will post 13.58 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 17th will be given a $1.63 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 3.93%. Chevron’s payout ratio is 59.98%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on CVX shares. Barclays initiated coverage on shares of Chevron in a report on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 price objective on the stock. Raymond James raised their price target on Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a report on Monday, April 15th. Truist Financial dropped their price objective on Chevron from $168.00 to $156.00 and set a “hold” rating for the company in a research note on Friday, April 5th. The Goldman Sachs Group reissued a “buy” rating on shares of Chevron in a research note on Monday, April 1st. Finally, Wells Fargo & Company upped their price target on Chevron from $185.00 to $198.00 and gave the stock an “overweight” rating in a research note on Thursday, April 4th. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $184.75.

Insiders Place Their Bets

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total transaction of $448,252.00. Following the sale, the vice president now owns 276 shares of the company’s stock, valued at approximately $44,184.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.18% of the company’s stock.

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.