MGO One Seven LLC Has $4.16 Million Stock Holdings in Chevron Corporation $CVX

MGO One Seven LLC raised its position in Chevron Corporation (NYSE:CVX) by 13.0% during the second quarter, according to its most recent filing with the SEC. The firm owned 29,077 shares of the oil and gas company’s stock after purchasing an additional 3,353 shares during the period. MGO One Seven LLC’s holdings in Chevron were worth $4,164,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CVX. GAMMA Investing LLC lifted its position in shares of Chevron by 27.3% in the 1st quarter. GAMMA Investing LLC now owns 32,329 shares of the oil and gas company’s stock worth $5,408,000 after purchasing an additional 6,928 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in shares of Chevron by 10.1% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 1,133,752 shares of the oil and gas company’s stock worth $189,666,000 after purchasing an additional 104,103 shares during the period. Stewardship Advisors LLC acquired a new position in shares of Chevron in the 1st quarter worth approximately $203,000. Keystone Wealth Services LLC bought a new stake in shares of Chevron in the 1st quarter valued at $236,000. Finally, Crane Advisory LLC increased its stake in shares of Chevron by 25.2% in the 1st quarter. Crane Advisory LLC now owns 2,821 shares of the oil and gas company’s stock valued at $472,000 after acquiring an additional 567 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Buying and Selling at Chevron

In other news, VP Alana K. Knowles sold 3,978 shares of the company’s stock in a transaction on Friday, August 29th. The shares were sold at an average price of $160.00, for a total value of $636,480.00. Following the completion of the sale, the vice president owned 1,181 shares in the company, valued at $188,960. This represents a 77.11% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director John B. Hess sold 375,000 shares of the company’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $158.30, for a total transaction of $59,362,500.00. Following the completion of the sale, the director owned 1,403,045 shares of the company’s stock, valued at approximately $222,102,023.50. The trade was a 21.09% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.20% of the company’s stock.

Chevron Stock Performance

Shares of CVX stock opened at $151.86 on Tuesday. The firm has a market capitalization of $262.42 billion, a PE ratio of 19.54, a price-to-earnings-growth ratio of 1.93 and a beta of 0.84. The firm has a fifty day simple moving average of $156.12 and a two-hundred day simple moving average of $148.31. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $168.96.

Chevron (NYSE:CVX) last posted its earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.19. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The firm had revenue of $44.82 billion during the quarter, compared to analyst estimates of $44.59 billion. During the same quarter in the prior year, the business posted $2.55 EPS. The business’s revenue was down 12.4% compared to the same quarter last year. Analysts forecast that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were paid a $1.71 dividend. The ex-dividend date was Tuesday, August 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.5%. Chevron’s dividend payout ratio is presently 88.03%.

Analysts Set New Price Targets

Several research firms have recently weighed in on CVX. Barclays lowered their price objective on shares of Chevron from $160.00 to $158.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 7th. UBS Group lifted their price objective on shares of Chevron from $186.00 to $197.00 and gave the company a “buy” rating in a research note on Wednesday, August 20th. Raymond James Financial reiterated an “outperform” rating on shares of Chevron in a research note on Friday, August 1st. Melius Research began coverage on shares of Chevron in a research note on Wednesday, August 20th. They issued a “hold” rating and a $155.00 price objective for the company. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Chevron in a research note on Wednesday, October 8th. Eleven analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, Chevron presently has a consensus rating of “Hold” and a consensus target price of $165.40.

Chevron Company 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.