Mascagni Wealth Management Inc. Invests $940,000 in Chevron Co. (NYSE:CVX)

Mascagni Wealth Management Inc. purchased a new position in Chevron Co. (NYSE:CVX - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 6,487 shares of the oil and gas company's stock, valued at approximately $940,000.

Several other large investors have also recently made changes to their positions in CVX. Geode Capital Management LLC boosted its stake in Chevron by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 36,269,270 shares of the oil and gas company's stock worth $5,247,142,000 after purchasing an additional 392,916 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Chevron by 2.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 31,855,566 shares of the oil and gas company's stock worth $4,613,960,000 after buying an additional 746,806 shares in the last quarter. Norges Bank purchased a new position in shares of Chevron in the fourth quarter worth about $3,017,750,000. Northern Trust Corp boosted its position in Chevron by 7.3% during the fourth quarter. Northern Trust Corp now owns 20,471,800 shares of the oil and gas company's stock worth $2,965,135,000 after acquiring an additional 1,394,091 shares during the last quarter. Finally, Fisher Asset Management LLC grew its stake in Chevron by 2.1% during the 4th quarter. Fisher Asset Management LLC now owns 19,892,848 shares of the oil and gas company's stock valued at $2,881,280,000 after acquiring an additional 410,460 shares in the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CVX has been the topic of a number of research reports. TD Cowen decreased their target price on shares of Chevron from $155.00 to $150.00 and set a "hold" rating on the stock in a research note on Monday, May 5th. Wells Fargo & Company cut their price target on Chevron from $173.00 to $164.00 and set an "overweight" rating for the company in a report on Monday, May 5th. Scotiabank lowered Chevron from a "sector outperform" rating to a "sector perform" rating and lowered their price objective for the stock from $160.00 to $143.00 in a research note on Friday, April 11th. Piper Sandler dropped their target price on Chevron from $173.00 to $162.00 and set an "overweight" rating for the company in a report on Tuesday, May 13th. Finally, Royal Bank of Canada reiterated an "outperform" rating and set a $175.00 price target on shares of Chevron in a report on Monday, February 3rd. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $160.24.

Chevron Trading Down 1.3%

CVX traded down $1.78 during mid-day trading on Wednesday, hitting $136.05. 6,859,635 shares of the stock were exchanged, compared to its average volume of 8,082,542. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The company has a market cap of $237.60 billion, a PE ratio of 14.00, a PEG ratio of 1.46 and a beta of 0.83. The firm's fifty day moving average is $143.01 and its two-hundred day moving average is $150.83. Chevron Co. has a 1-year low of $132.04 and a 1-year high of $168.96.

Chevron (NYSE:CVX - Get Free Report) last posted its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, beating the consensus estimate of $2.15 by $0.03. Chevron had a net margin of 8.71% and a return on equity of 11.44%. The business had revenue of $47.61 billion during the quarter, compared to analyst estimates of $49.05 billion. During the same quarter last year, the firm posted $2.93 earnings per share. The business's revenue for the quarter was down 2.3% compared to the same quarter last year. Equities analysts forecast that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th will be paid a $1.71 dividend. The ex-dividend date is Monday, May 19th. This represents a $6.84 annualized dividend and a dividend yield of 5.03%. Chevron's dividend payout ratio (DPR) is 78.17%.

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.