Mengis Capital Management Inc. Has $14.91 Million Stake in Chevron Co. (NYSE:CVX)

Mengis Capital Management Inc. grew its stake in Chevron Co. (NYSE:CVX) by 2.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 102,948 shares of the oil and gas company’s stock after purchasing an additional 2,506 shares during the quarter. Chevron comprises about 3.0% of Mengis Capital Management Inc.’s holdings, making the stock its 3rd biggest holding. Mengis Capital Management Inc.’s holdings in Chevron were worth $14,911,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in CVX. Pathway Financial Advisers LLC raised its holdings in Chevron by 15,750.1% in the 3rd quarter. Pathway Financial Advisers LLC now owns 3,901,345 shares of the oil and gas company’s stock worth $574,551,000 after purchasing an additional 3,876,731 shares in the last quarter. Pacer Advisors Inc. increased its stake in shares of Chevron by 949.6% in the 3rd quarter. Pacer Advisors Inc. now owns 3,819,963 shares of the oil and gas company’s stock worth $562,566,000 after acquiring an additional 3,456,008 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Chevron by 11.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 31,108,760 shares of the oil and gas company’s stock worth $4,581,137,000 after acquiring an additional 3,203,899 shares in the last quarter. State Street Corp increased its stake in shares of Chevron by 0.6% in the 3rd quarter. State Street Corp now owns 159,105,244 shares of the oil and gas company’s stock worth $23,431,429,000 after acquiring an additional 874,962 shares in the last quarter. Finally, Fisher Asset Management LLC increased its stake in shares of Chevron by 3.6% in the 3rd quarter. Fisher Asset Management LLC now owns 19,482,388 shares of the oil and gas company’s stock worth $2,869,171,000 after acquiring an additional 672,244 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors.

Chevron Stock Performance

Shares of NYSE CVX opened at $157.85 on Tuesday. The firm’s 50-day moving average price is $152.14 and its 200-day moving average price is $151.20. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The company has a market cap of $283.68 billion, a PE ratio of 16.24, a PEG ratio of 1.46 and a beta of 1.11. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $167.11.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.36). Chevron had a net margin of 8.71% and a return on equity of 11.44%. During the same quarter in the previous year, the company posted $3.45 EPS. As a group, analysts anticipate that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be issued a $1.71 dividend. This is an increase from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date is Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.33%. Chevron’s dividend payout ratio (DPR) is presently 70.37%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on CVX shares. Truist Financial decreased their price target on shares of Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research note on Tuesday, February 4th. Barclays decreased their price target on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. Piper Sandler decreased their price target on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Citigroup upgraded shares of Chevron from a “neutral” rating to a “buy” rating and increased their price target for the stock from $145.00 to $185.00 in a research note on Tuesday, November 26th. Finally, UBS Group cut their price objective on shares of Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a research report on Monday, February 3rd. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $174.13.

Insider Buying and Selling

In related news, VP Jeff B. Gustavson sold 9,325 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $152.50, for a total value of $1,422,062.50. Following the transaction, the vice president now owns 1,057 shares of the company’s stock, valued at approximately $161,192.50. This trade represents a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.20% of the stock is currently owned by 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.