Mattern Wealth Management LLC Has $3.60 Million Holdings in Chevron Corporation (NYSE:CVX)

Mattern Wealth Management LLC lifted its holdings in shares of Chevron Corporation (NYSE:CVX) by 0.5% in the 1st quarter, Holdings Channel reports. The institutional investor owned 21,531 shares of the oil and gas company’s stock after acquiring an additional 99 shares during the period. Chevron accounts for about 0.8% of Mattern Wealth Management LLC’s portfolio, making the stock its 25th biggest position. Mattern Wealth Management LLC’s holdings in Chevron were worth $3,602,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of CVX. Global Assets Advisory LLC grew its holdings in Chevron by 148.4% during the first quarter. Global Assets Advisory LLC now owns 16,173 shares of the oil and gas company’s stock valued at $2,706,000 after purchasing an additional 9,663 shares during the period. Field & Main Bank grew its holdings in shares of Chevron by 0.5% in the 1st quarter. Field & Main Bank now owns 18,941 shares of the oil and gas company’s stock valued at $3,169,000 after buying an additional 85 shares during the period. Archford Capital Strategies LLC increased its position in shares of Chevron by 42.5% in the 1st quarter. Archford Capital Strategies LLC now owns 15,844 shares of the oil and gas company’s stock valued at $2,651,000 after buying an additional 4,727 shares in the last quarter. TABR Capital Management LLC acquired a new stake in Chevron during the 1st quarter worth $224,000. Finally, Strategic Investment Advisors MI lifted its holdings in Chevron by 12.8% during the first quarter. Strategic Investment Advisors MI now owns 1,729 shares of the oil and gas company’s stock worth $289,000 after acquiring an additional 196 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on CVX shares. Mizuho lowered their price target on Chevron from $188.00 to $186.00 and set an “outperform” rating for the company in a report on Tuesday, May 13th. Wells Fargo & Company dropped their target price on shares of Chevron from $173.00 to $164.00 and set an “overweight” rating on the stock in a report on Monday, May 5th. BNP Paribas cut shares of Chevron to a “cautious” rating in a report on Tuesday, April 15th. Hsbc Global Res lowered shares of Chevron from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 13th. Finally, Piper Sandler dropped their price target on Chevron from $173.00 to $162.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 13th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, Chevron currently has an average rating of “Hold” and a consensus target price of $160.24.

Chevron Stock Down 2.2%

Chevron stock opened at $143.67 on Wednesday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.08 and a quick ratio of 0.82. The company’s 50-day moving average is $139.78 and its 200-day moving average is $148.49. The firm has a market capitalization of $250.90 billion, a PE ratio of 16.42, a P/E/G ratio of 2.58 and a beta of 0.83. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, topping analysts’ consensus estimates of $2.15 by $0.03. Chevron had a return on equity of 10.73% and a net margin of 7.76%. The firm had revenue of $47.61 billion for the quarter, compared to the consensus estimate of $49.05 billion. During the same quarter in the previous year, the business earned $2.93 earnings per share. The business’s revenue was down 2.3% compared to the same quarter last year. Sell-side analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th were issued a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 4.76%. The ex-dividend date of this dividend was Monday, May 19th. Chevron’s dividend payout ratio is 78.17%.

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.