Mengis Capital Management Inc. Purchases 13,419 Shares of Chevron Co. (NYSE:CVX)

Mengis Capital Management Inc. raised its position in Chevron Co. (NYSE:CVX) by 16.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 96,619 shares of the oil and gas company’s stock after purchasing an additional 13,419 shares during the quarter. Chevron comprises 2.7% of Mengis Capital Management Inc.’s investment portfolio, making the stock its 5th biggest position. Mengis Capital Management Inc.’s holdings in Chevron were worth $14,412,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of CVX. International Assets Investment Management LLC raised its stake in shares of Chevron by 15,548.2% in the 4th quarter. International Assets Investment Management LLC now owns 3,202,411 shares of the oil and gas company’s stock valued at $4,776,720,000 after acquiring an additional 3,181,946 shares during the period. Morgan Stanley raised its stake in shares of Chevron by 7.0% in the 3rd quarter. Morgan Stanley now owns 34,166,899 shares of the oil and gas company’s stock valued at $5,761,223,000 after acquiring an additional 2,244,995 shares during the period. J.P. Morgan Private Wealth Advisors LLC purchased a new stake in shares of Chevron in the 3rd quarter valued at approximately $348,789,000. Envestnet Asset Management Inc. raised its stake in shares of Chevron by 36.4% in the 3rd quarter. Envestnet Asset Management Inc. now owns 4,614,498 shares of the oil and gas company’s stock valued at $778,097,000 after acquiring an additional 1,230,619 shares during the period. Finally, California Public Employees Retirement System raised its stake in shares of Chevron by 28.3% in the 3rd quarter. California Public Employees Retirement System now owns 4,179,942 shares of the oil and gas company’s stock valued at $704,822,000 after acquiring an additional 923,119 shares during the period. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on CVX shares. Wells Fargo & Company boosted their price target on shares of Chevron from $185.00 to $198.00 and gave the company an “overweight” rating in a research note on Thursday, April 4th. UBS Group upped their target price on shares of Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a research note on Tuesday, April 9th. Raymond James upped their target price on shares of Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a research note on Monday, April 15th. Piper Sandler upped their target price on shares of Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, DZ Bank downgraded shares of Chevron from a “buy” rating to a “hold” rating and set a $160.00 target price on the stock. in a research note on Tuesday, February 6th. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $184.75.

Chevron Stock Up 1.5 %

Shares of Chevron stock traded up $2.43 during trading hours on Monday, hitting $162.43. The company had a trading volume of 3,114,205 shares, compared to its average volume of 8,447,465. The company’s 50-day moving average is $155.44 and its two-hundred day moving average is $151.67. Chevron Co. has a twelve month low of $139.62 and a twelve month high of $172.38. 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 company has a market cap of $301.68 billion, a P/E ratio of 14.21, a price-to-earnings-growth ratio of 2.36 and a beta of 1.12.

Chevron (NYSE:CVX) last issued its earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.19 by $0.26. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The business had revenue of $47.18 billion during the quarter, compared to analysts’ expectations of $50.93 billion. During the same quarter in the prior year, the business posted $4.09 EPS. The company’s revenue for the quarter was down 16.5% on a year-over-year basis. Analysts anticipate that Chevron Co. will post 13.58 earnings per share for the current fiscal year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Friday, February 16th were paid a dividend of $1.63 per share. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $6.52 dividend on an annualized basis and a yield of 4.01%. This is a boost from Chevron’s previous quarterly dividend of $1.51. Chevron’s dividend payout ratio is currently 57.39%.

Insider Buying and Selling

In related news, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total transaction of $448,252.00. Following the completion of the sale, the vice president now owns 276 shares in the company, valued at approximately $44,184.84. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.18% of the stock is owned by company insiders.

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.