Mascagni Wealth Management Inc. Has $1.09 Million Stake in Chevron Corporation (NYSE:CVX)

Mascagni Wealth Management Inc. lifted its position in shares of Chevron Corporation (NYSE:CVX) by 4.8% during the first quarter, Holdings Channel.com reports. The firm owned 6,487 shares of the oil and gas company’s stock after purchasing an additional 295 shares during the period. Mascagni Wealth Management Inc.’s holdings in Chevron were worth $1,085,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Parkside Financial Bank & Trust grew its stake in Chevron by 0.4% during the 4th quarter. Parkside Financial Bank & Trust now owns 15,240 shares of the oil and gas company’s stock worth $2,207,000 after buying an additional 66 shares during the last quarter. Berkeley Capital Partners LLC lifted its position in Chevron by 0.4% during the 4th quarter. Berkeley Capital Partners LLC now owns 17,757 shares of the oil and gas company’s stock worth $2,572,000 after acquiring an additional 67 shares during the period. CBIZ Investment Advisory Services LLC lifted its position in Chevron by 6.1% during the 4th quarter. CBIZ Investment Advisory Services LLC now owns 1,184 shares of the oil and gas company’s stock worth $171,000 after acquiring an additional 68 shares during the period. Acorn Wealth Advisors LLC lifted its position in Chevron by 3.4% during the 4th quarter. Acorn Wealth Advisors LLC now owns 2,092 shares of the oil and gas company’s stock worth $303,000 after acquiring an additional 69 shares during the period. Finally, Wealthstream Advisors Inc. lifted its position in Chevron by 4.4% during the 4th quarter. Wealthstream Advisors Inc. now owns 1,664 shares of the oil and gas company’s stock worth $241,000 after acquiring an additional 70 shares during the period. 72.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CVX has been the subject of a number of research reports. TD Cowen lowered their price target on Chevron from $155.00 to $150.00 and set a “hold” rating for the company in a research report on Monday, May 5th. Scotiabank cut Chevron from a “sector outperform” rating to a “sector perform” rating and lowered their price target for the stock from $160.00 to $143.00 in a research report on Friday, April 11th. Redburn Atlantic reaffirmed a “sell” rating and set a $124.00 price target (down previously from $156.00) on shares of Chevron in a research report on Wednesday, April 23rd. DZ Bank cut Chevron from a “buy” rating to a “sell” rating and set a $130.00 price target for the company. in a research report on Tuesday, May 6th. Finally, Wells Fargo & Company lowered their price target on Chevron from $173.00 to $164.00 and set an “overweight” rating for the company in a research report on Monday, May 5th. 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’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $160.24.

Chevron Stock Performance

NYSE CVX opened at $146.92 on Tuesday. The stock has a market capitalization of $256.58 billion, a price-to-earnings ratio of 16.79, a PEG ratio of 2.63 and a beta of 0.83. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.17. The stock has a 50-day moving average of $139.60 and a 200 day moving average of $148.52.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, topping analysts’ consensus estimates of $2.15 by $0.03. The company had revenue of $47.61 billion during the quarter, compared to analysts’ expectations of $49.05 billion. Chevron had a return on equity of 10.73% and a net margin of 7.76%. Chevron’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.93 EPS. Sell-side analysts anticipate that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were issued a $1.71 dividend. The ex-dividend date was Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a yield of 4.66%. Chevron’s payout ratio 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.