Mutual of America Capital Management LLC Lowers Holdings in Chevron Co. (NYSE:CVX)

by · The Markets Daily

Mutual of America Capital Management LLC lowered its stake in shares of Chevron Co. (NYSE:CVX – Free Report) by 4.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 215,686 shares of the oil and gas company’s stock after selling 10,892 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Chevron were worth $31,764,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of CVX. China Universal Asset Management Co. Ltd. purchased a new stake in shares of Chevron during the 1st quarter valued at $566,000. Empowered Funds LLC boosted its holdings in Chevron by 5.4% in the first quarter. Empowered Funds LLC now owns 429,000 shares of the oil and gas company’s stock valued at $67,670,000 after acquiring an additional 22,047 shares during the last quarter. Davis R M Inc. grew its position in Chevron by 15.9% during the first quarter. Davis R M Inc. now owns 28,634 shares of the oil and gas company’s stock valued at $4,517,000 after acquiring an additional 3,936 shares during the period. Signature Estate & Investment Advisors LLC increased its stake in Chevron by 16.4% during the first quarter. Signature Estate & Investment Advisors LLC now owns 334,778 shares of the oil and gas company’s stock worth $52,808,000 after acquiring an additional 47,089 shares during the last quarter. Finally, Secured Retirement Advisors LLC raised its holdings in shares of Chevron by 23.8% in the 1st quarter. Secured Retirement Advisors LLC now owns 11,391 shares of the oil and gas company’s stock worth $1,797,000 after purchasing an additional 2,193 shares during the period. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Price Performance

Shares of CVX opened at $161.42 on Friday. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The firm has a market cap of $290.09 billion, a price-to-earnings ratio of 17.74, a PEG ratio of 3.63 and a beta of 1.09. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.11. The stock has a 50 day moving average of $149.39 and a 200-day moving average of $152.62.

Chevron (NYSE:CVX – Get Free Report) last released its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, beating the consensus estimate of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The firm had revenue of $50.67 billion during the quarter, compared to analyst estimates of $48.86 billion. During the same quarter in the previous year, the firm earned $3.05 earnings per share. The firm’s revenue for the quarter was down 6.3% compared to the same quarter last year. As a group, analysts forecast that Chevron Co. will post 10.55 EPS for the current year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 18th will be paid a dividend of $1.63 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $6.52 annualized dividend and a yield of 4.04%. Chevron’s dividend payout ratio (DPR) is 71.65%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CVX. Mizuho decreased their target price on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a report on Monday, September 16th. UBS Group increased their price objective on shares of Chevron from $192.00 to $194.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Scotiabank reduced their target price on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target for the company in a report on Tuesday, November 5th. Finally, Bank of America began coverage on Chevron in a research note on Thursday, October 17th. They set a “buy” rating and a $168.00 price objective on the stock. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $174.93.

Get Our Latest Analysis on Chevron

About Chevron

(Free Report)

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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