Mosaic Financial Group LLC Has $1.46 Million Position in Chevron Corporation $CVX

Mosaic Financial Group LLC cut its holdings in Chevron Corporation (NYSE:CVX) by 3.8% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 10,176 shares of the oil and gas company’s stock after selling 405 shares during the quarter. Chevron comprises 1.1% of Mosaic Financial Group LLC’s holdings, making the stock its 21st biggest position. Mosaic Financial Group LLC’s holdings in Chevron were worth $1,457,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Harvest Fund Management Co. Ltd lifted its position in Chevron by 420.7% in the 1st quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company’s stock valued at $25,000 after acquiring an additional 122 shares in the last quarter. Elequin Capital LP acquired a new position in shares of Chevron during the first quarter worth about $31,000. Quaker Wealth Management LLC grew its holdings in shares of Chevron by 197.7% during the second quarter. Quaker Wealth Management LLC now owns 217 shares of the oil and gas company’s stock worth $31,000 after buying an additional 439 shares in the last quarter. IMG Wealth Management Inc. grew its holdings in shares of Chevron by 52.3% during the second quarter. IMG Wealth Management Inc. now owns 265 shares of the oil and gas company’s stock worth $38,000 after buying an additional 91 shares in the last quarter. Finally, Investment Management Corp VA ADV raised its position in Chevron by 171.3% in the 1st quarter. Investment Management Corp VA ADV now owns 236 shares of the oil and gas company’s stock valued at $39,000 after buying an additional 149 shares during the last quarter. 72.42% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on CVX. Jefferies Financial Group reaffirmed a “buy” rating on shares of Chevron in a research report on Friday, July 18th. Melius assumed coverage on shares of Chevron in a research report on Wednesday, August 20th. They issued a “hold” rating and a $155.00 price objective on the stock. Barclays decreased their target price on shares of Chevron from $160.00 to $158.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 7th. Piper Sandler cut their price target on shares of Chevron from $171.00 to $169.00 and set an “overweight” rating on the stock in a research report on Monday. Finally, Bank of America increased their price objective on shares of Chevron from $170.00 to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, September 10th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $165.45.

Chevron Trading Up 1.4%

Shares of NYSE:CVX opened at $155.10 on Monday. Chevron Corporation has a 52-week low of $132.04 and a 52-week high of $168.96. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00. The company has a market capitalization of $268.01 billion, a P/E ratio of 19.96, a price-to-earnings-growth ratio of 4.40 and a beta of 0.83. The company has a 50-day simple moving average of $155.55 and a 200 day simple moving average of $149.80.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, October 31st. The oil and gas company reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.71 by $0.14. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The firm had revenue of $48.17 billion for the quarter, compared to analyst estimates of $46.99 billion. During the same quarter in the prior year, the company earned $2.48 earnings per share. The business’s revenue for the quarter was down 1.9% compared to the same quarter last year. Sell-side analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Tuesday, November 18th will be issued a dividend of $1.71 per share. The ex-dividend date of this dividend is Tuesday, November 18th. This represents a $6.84 annualized dividend and a yield of 4.4%. Chevron’s dividend payout ratio (DPR) is currently 96.20%.

Insiders Place Their Bets

In other news, Director John B. Hess sold 375,000 shares of the stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $158.30, for a total value of $59,362,500.00. Following the transaction, the director directly owned 1,403,045 shares of the company’s stock, valued at $222,102,023.50. This represents a 21.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Alana K. Knowles sold 3,978 shares of Chevron stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $160.00, for a total transaction of $636,480.00. Following the sale, the vice president directly owned 1,181 shares of the company’s stock, valued at $188,960. The trade was a 77.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.21% 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.