Mach 1 Financial Group LLC Purchases 15,864 Shares of Chevron Co. (NYSE:CVX)

Mach 1 Financial Group LLC increased its position in Chevron Co. (NYSE:CVX) by 198.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 23,864 shares of the oil and gas company’s stock after purchasing an additional 15,864 shares during the quarter. Chevron makes up 1.4% of Mach 1 Financial Group LLC’s holdings, making the stock its 18th largest position. Mach 1 Financial Group LLC’s holdings in Chevron were worth $3,560,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of CVX. Sweet Financial Partners LLC lifted its stake in Chevron by 0.7% during the 3rd quarter. Sweet Financial Partners LLC now owns 8,761 shares of the oil and gas company’s stock valued at $1,477,000 after acquiring an additional 65 shares in the last quarter. Strategic Investment Advisors MI increased its holdings in Chevron by 3.8% in the 3rd 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 last quarter. Regent Peak Wealth Advisors LLC increased its holdings in Chevron by 1.4% in the 3rd quarter. Regent Peak Wealth Advisors LLC now owns 5,081 shares of the oil and gas company’s stock worth $857,000 after acquiring an additional 68 shares during the last quarter. Octavia Wealth Advisors LLC increased its holdings in Chevron by 1.3% in the 4th quarter. Octavia Wealth Advisors LLC now owns 5,254 shares of the oil and gas company’s stock worth $784,000 after acquiring an additional 68 shares during the last quarter. Finally, Investment Partners LTD. increased its holdings in Chevron by 0.8% in the 4th quarter. Investment Partners LTD. now owns 8,124 shares of the oil and gas company’s stock worth $1,212,000 after acquiring an additional 68 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Price Performance

NYSE:CVX traded down $5.06 during mid-day trading on Tuesday, reaching $161.27. The stock had a trading volume of 8,382,708 shares, compared to its average volume of 8,454,227. The firm has a 50 day moving average price of $156.96 and a two-hundred day moving average price of $151.68. The stock has a market capitalization of $299.52 billion, a P/E ratio of 14.84, a P/E/G ratio of 2.44 and a beta of 1.12. Chevron Co. has a one year low of $139.62 and a one year high of $171.70. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.27.

Chevron (NYSE:CVX) last released its earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, topping analysts’ consensus estimates of $2.84 by $0.09. The company had revenue of $48.72 billion during the quarter, compared to the consensus estimate of $48.42 billion. Chevron had a return on equity of 14.38% and a net margin of 10.21%. Chevron’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.55 EPS. As a group, analysts expect that Chevron Co. will post 13.58 earnings per share for the current year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Shareholders 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 annualized dividend and a yield of 4.04%. Chevron’s payout ratio is currently 59.98%.

Insider Buying and Selling at Chevron

In other news, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $165.00, for a total transaction of $462,000.00. Following the transaction, the vice president now directly owns 276 shares of the company’s stock, valued at $45,540. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

CVX has been the subject of a number of recent analyst reports. Raymond James lifted their target price on Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a report on Monday, April 15th. Wells Fargo & Company lifted their target price on Chevron from $198.00 to $206.00 and gave the company an “overweight” rating in a report on Tuesday. DZ Bank lowered Chevron from a “buy” rating to a “hold” rating and set a $160.00 target price for the company. in a report on Tuesday, February 6th. Royal Bank of Canada lifted their target price on Chevron from $185.00 to $190.00 and gave the company an “outperform” rating in a report on Monday, February 5th. Finally, TD Cowen lifted their target price on Chevron from $155.00 to $160.00 and gave the company a “hold” rating in a report on Monday. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $185.35.

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.