Mattson Financial Services LLC Buys 3,073 Shares of Chevron Corporation $CVX

Key Points

• Mattson Financial Services LLC increased its stake in Chevron Corporation by 11.7%, acquiring an additional 3,073 shares and now holding a total of 29,431 shares valued at approximately $4.2 million.
• Chevron recently reported an earnings per share of $1.77, exceeding analysts' expectations of $1.58, although its revenue saw a 12.4% decline year-over-year.
• Chevron's stock has a current market cap of $261.95 billion, and its most recent quarterly dividend was $1.71 per share, yielding 4.5% annually.

Mattson Financial Services LLC raised its stake in Chevron Corporation (NYSE:CVX - Free Report) by 11.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 29,431 shares of the oil and gas company's stock after acquiring an additional 3,073 shares during the period. Chevron comprises about 1.1% of Mattson Financial Services LLC's investment portfolio, making the stock its 20th largest position. Mattson Financial Services LLC's holdings in Chevron were worth $4,214,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently made changes to their positions in CVX. Harvest Fund Management Co. Ltd grew its holdings in shares of Chevron by 420.7% during the first quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company's stock worth $25,000 after purchasing an additional 122 shares during the last quarter. Elequin Capital LP bought a new stake in shares of Chevron during the first quarter worth $31,000. Cloud Capital Management LLC bought a new stake in shares of Chevron during the first quarter worth $39,000. Investment Management Corp VA ADV grew its holdings in shares of Chevron by 171.3% during the first quarter. Investment Management Corp VA ADV now owns 236 shares of the oil and gas company's stock worth $39,000 after purchasing an additional 149 shares during the last quarter. Finally, GFG Capital LLC bought a new stake in shares of Chevron during the second quarter worth $42,000. Institutional investors own 72.42% of the company's stock.

Analyst Ratings Changes

Several analysts have recently commented on the company. Weiss Ratings restated a "hold (c)" rating on shares of Chevron in a report on Wednesday, October 8th. Morgan Stanley assumed coverage on Chevron in a report on Monday, August 4th. They issued an "overweight" rating and a $174.00 price target on the stock. Scotiabank raised their price target on Chevron from $160.00 to $165.00 and gave the company a "sector perform" rating in a report on Thursday, October 9th. Piper Sandler raised their price target on Chevron from $164.00 to $168.00 and gave the company an "overweight" rating in a report on Monday, August 18th. Finally, Melius Research assumed coverage on Chevron in a report on Wednesday, August 20th. They issued a "hold" rating and a $155.00 price target on the stock. Eleven analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, Chevron presently has a consensus rating of "Hold" and a consensus price target of $165.40.

Chevron Price Performance

Shares of CVX opened at $151.59 on Friday. 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 1 year low of $132.04 and a 1 year high of $168.96. The stock has a market cap of $261.95 billion, a P/E ratio of 19.51, a price-to-earnings-growth ratio of 2.00 and a beta of 0.84. The stock's 50-day moving average price is $156.07 and its two-hundred day moving average price is $148.25.

Chevron (NYSE:CVX - Get Free Report) last issued its earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.58 by $0.19. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The firm had revenue of $44.82 billion for the quarter, compared to analysts' expectations of $44.59 billion. During the same quarter last year, the business earned $2.55 earnings per share. The company's revenue was down 12.4% compared to the same quarter last year. On average, equities analysts predict 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 Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were given a dividend of $1.71 per share. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.5%. Chevron's dividend payout ratio (DPR) is currently 88.03%.

Insider Transactions at Chevron

In other news, VP Alana K. Knowles sold 3,978 shares of the firm's 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 owned 1,181 shares of the company's stock, valued at $188,960. This trade represents a 77.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John B. Hess sold 375,000 shares of the firm's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $158.30, for a total value of $59,362,500.00. Following the sale, the director directly owned 1,403,045 shares in the company, valued at approximately $222,102,023.50. This represents a 21.09% decrease in their position. The disclosure for this sale can be found here. Company 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.

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