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

Mayfair Advisory Group LLC increased its holdings in shares of Chevron Co. (NYSE:CVX) by 3.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,342 shares of the oil and gas company’s stock after purchasing an additional 311 shares during the period. Chevron makes up 1.2% of Mayfair Advisory Group LLC’s holdings, making the stock its 17th biggest position. Mayfair Advisory Group LLC’s holdings in Chevron were worth $1,396,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Picton Mahoney Asset Management purchased a new position in shares of Chevron during the third quarter worth $26,000. Valley Forge Investment Consultants Inc. ADV increased its holdings in Chevron by 80.0% in the third quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock valued at $30,000 after buying an additional 80 shares in the last quarter. DHJJ Financial Advisors Ltd. purchased a new position in Chevron in the third quarter valued at $35,000. Valued Wealth Advisors LLC purchased a new position in Chevron in the fourth quarter valued at $33,000. Finally, Worth Asset Management LLC purchased a new position in Chevron in the first quarter valued at $36,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

NYSE:CVX opened at $157.74 on Monday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.27 and a quick ratio of 1.01. The firm has a market capitalization of $292.97 billion, a price-to-earnings ratio of 13.89, a PEG ratio of 2.42 and a beta of 1.12. The company’s 50-day moving average is $152.23 and its two-hundred day moving average is $152.57. Chevron Co. has a 1-year low of $139.62 and a 1-year high of $172.88.

Chevron (NYSE:CVX) last posted its earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share for the quarter, beating the consensus estimate of $3.19 by $0.26. The company had revenue of $47.18 billion for the quarter, compared to analyst estimates of $50.93 billion. Chevron had a net margin of 10.63% and a return on equity of 15.24%. Chevron’s revenue was down 16.5% on a year-over-year basis. During the same period in the previous year, the business posted $4.09 EPS. Analysts forecast that Chevron Co. will post 13.04 EPS for the current year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Friday, February 16th were issued a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 4.13%. This is a positive change from Chevron’s previous quarterly dividend of $1.51. The ex-dividend date was Thursday, February 15th. Chevron’s payout ratio is presently 57.39%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CVX. DZ Bank cut shares of Chevron from a “buy” rating to a “hold” rating and set a $160.00 price objective for the company. in a report on Tuesday, February 6th. Royal Bank of Canada lifted their price objective on shares of Chevron from $185.00 to $190.00 and gave the company an “outperform” rating in a report on Monday, February 5th. Scotiabank lowered shares of Chevron from a “sector outperform” rating to a “sector perform” rating and set a $170.00 target price on the stock. in a research report on Tuesday, January 16th. Piper Sandler dropped their target price on shares of Chevron from $188.00 to $180.00 and set an “overweight” rating on the stock in a research report on Thursday, March 14th. Finally, Jefferies Financial Group upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $184.00 target price on the stock in a research report on Monday, January 8th. Seven investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $180.39.

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.