Mayfair Advisory Group LLC Boosts Stock Position in Chevron Co. (NYSE:CVX)

Mayfair Advisory Group LLC boosted its position in shares of Chevron Co. (NYSE:CVX) by 0.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,407 shares of the oil and gas company’s stock after acquiring an additional 65 shares during the period. Chevron accounts for about 1.1% of Mayfair Advisory Group LLC’s investment portfolio, making the stock its 19th largest position. Mayfair Advisory Group LLC’s holdings in Chevron were worth $1,484,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Renaissance Investment Group LLC raised its holdings in shares of Chevron by 12.7% during the 4th quarter. Renaissance Investment Group LLC now owns 6,187 shares of the oil and gas company’s stock worth $923,000 after acquiring an additional 697 shares in the last quarter. Camelot Portfolios LLC purchased a new stake in Chevron in the 4th quarter worth about $254,000. Kapstone Financial Advisors LLC grew its stake in shares of Chevron by 5.3% during the fourth quarter. Kapstone Financial Advisors LLC now owns 4,216 shares of the oil and gas company’s stock valued at $626,000 after buying an additional 211 shares during the last quarter. Lane & Associates LLC bought a new position in Chevron in the 1st quarter valued at $345,000. Finally, Guyasuta Investment Advisors Inc. grew its holdings in shares of Chevron by 1.7% in the fourth quarter. Guyasuta Investment Advisors Inc. now owns 216,593 shares of the oil and gas company’s stock worth $32,307,000 after purchasing an additional 3,603 shares during the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on CVX shares. UBS Group raised their price objective on Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a report on Tuesday, April 9th. Truist Financial boosted their price target on shares of Chevron from $156.00 to $166.00 and gave the company a “hold” rating in a report on Friday, May 10th. Barclays assumed coverage on shares of Chevron in a report on Wednesday, April 10th. They set an “overweight” rating and a $203.00 price objective on the stock. Wells Fargo & Company upped their target price on Chevron from $198.00 to $206.00 and gave the stock an “overweight” rating in a report on Tuesday, April 30th. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of Chevron in a research report on Monday, April 1st. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $186.95.

Chevron Stock Performance

Shares of CVX stock opened at $156.42 on Monday. The company’s 50-day simple moving average is $159.22 and its 200-day simple moving average is $154.78. Chevron Co. has a one year low of $139.62 and a one year high of $171.70. The stock has a market capitalization of $288.28 billion, a price-to-earnings ratio of 14.39, a PEG ratio of 2.38 and a beta of 1.10. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.93 and a current ratio of 1.23.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, topping analysts’ consensus estimates of $2.84 by $0.09. The firm 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 14.40% and a net margin of 10.21%. The firm’s revenue was down 4.1% on a year-over-year basis. During the same period in the prior year, the business earned $3.55 EPS. Equities analysts anticipate that Chevron Co. will post 13.15 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 17th were given a $1.63 dividend. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $6.52 annualized dividend and a dividend yield of 4.17%. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

Insider Buying and Selling

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the company’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $165.00, for a total value of $462,000.00. Following the transaction, the vice president now owns 276 shares in the company, valued at approximately $45,540. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Chevron news, Director Enrique Hernandez, Jr. sold 2,549 shares of Chevron stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $165.24, for a total transaction of $421,196.76. Following the sale, the director now directly owns 27,725 shares of the company’s stock, valued at $4,581,279. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Alana K. Knowles sold 2,800 shares of the firm’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 sale, the vice president now directly owns 276 shares of the company’s stock, valued at approximately $45,540. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,546 shares of company stock valued at $3,176,223. Company insiders own 0.20% 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.