Mainsail Financial Group LLC Purchases 151 Shares of Chevron Co. (NYSE:CVX)

Mainsail Financial Group LLC grew its position in Chevron Co. (NYSE:CVX) by 3.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,404 shares of the oil and gas company’s stock after acquiring an additional 151 shares during the quarter. Mainsail Financial Group LLC’s holdings in Chevron were worth $695,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. Bare Financial Services Inc acquired a new stake in Chevron during the 4th quarter valued at $27,000. Frank Rimerman Advisors LLC acquired a new stake in Chevron during the 4th quarter valued at $30,000. Valued Wealth Advisors LLC acquired a new stake in Chevron during the 4th quarter valued at $33,000. Cooksen Wealth LLC acquired a new stake in Chevron during the 4th quarter valued at $40,000. Finally, Clear Investment Research LLC increased its holdings in Chevron by 264.9% during the 4th quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock valued at $42,000 after purchasing an additional 204 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Insiders Place Their Bets

In other news, Director Enrique Hernandez, Jr. sold 2,549 shares of the business’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $165.24, for a total value of $421,196.76. Following the sale, the director now directly owns 27,725 shares in the company, valued at $4,581,279. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Chevron news, Director Enrique Hernandez, Jr. sold 5,098 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $163.50, for a total transaction of $833,523.00. Following the transaction, the director now owns 2,549 shares of the company’s stock, valued at $416,761.50. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Enrique Hernandez, Jr. sold 2,549 shares of the stock in a transaction on Friday, May 10th. The shares were sold at an average price of $165.24, for a total value of $421,196.76. Following the completion of the transaction, the director now owns 27,725 shares of the company’s stock, valued at $4,581,279. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 16,746 shares of company stock worth $2,727,971. Corporate insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CVX. Wells Fargo & Company raised their price target on Chevron from $198.00 to $206.00 and gave the company an “overweight” rating in a report on Tuesday, April 30th. Piper Sandler raised their price target on Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a report on Thursday, April 18th. Truist Financial lifted their target price on Chevron from $156.00 to $166.00 and gave the company a “hold” rating in a research note on Friday, May 10th. HSBC lifted their target price on Chevron from $175.00 to $178.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. Finally, Barclays initiated coverage on Chevron in a research note on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 target price for the company. Five research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, Chevron has a consensus rating of “Moderate Buy” and a consensus target price of $186.95.

Chevron Stock Performance

CVX stock opened at $156.71 on Friday. The business’s 50-day moving average price is $158.85 and its two-hundred day moving average price is $154.89. The company has a current ratio of 1.23, a quick ratio of 0.93 and a debt-to-equity ratio of 0.13. The firm has a market cap of $288.81 billion, a PE ratio of 14.42, a P/E/G ratio of 2.38 and a beta of 1.10. Chevron Co. has a 1-year low of $139.62 and a 1-year high of $171.70.

Chevron (NYSE:CVX) last posted its earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, topping the consensus estimate of $2.84 by $0.09. The firm had revenue of $48.72 billion for the quarter, compared to analyst estimates of $48.42 billion. Chevron had a return on equity of 14.40% and a net margin of 10.21%. The company’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same period in the previous year, the company posted $3.55 earnings per share. As a group, research analysts forecast that Chevron Co. will post 13.15 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 17th were issued a dividend of $1.63 per share. The ex-dividend date was Thursday, May 16th. This represents a $6.52 annualized dividend and a yield of 4.16%. Chevron’s dividend payout ratio is presently 59.98%.

About Chevron

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.