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

Mutual of America Capital Management LLC lessened its holdings in Chevron Co. (NYSE:CVX) by 0.4% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 226,578 shares of the oil and gas company’s stock after selling 826 shares during the period. Chevron accounts for approximately 0.4% of Mutual of America Capital Management LLC’s portfolio, making the stock its 27th largest holding. Mutual of America Capital Management LLC’s holdings in Chevron were worth $35,441,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. American Capital Advisory LLC lifted its stake in shares of Chevron by 403.2% during the 1st quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock valued at $25,000 after buying an additional 125 shares in the last quarter. Frank Rimerman Advisors LLC acquired a new stake in shares of Chevron during the fourth quarter worth $30,000. Anfield Capital Management LLC increased its holdings in Chevron by 118.0% in the second quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock valued at $34,000 after buying an additional 118 shares in the last quarter. Cooksen Wealth LLC purchased a new stake in shares of Chevron during the fourth quarter worth about $40,000. Finally, Clear Investment Research LLC increased its stake in shares of Chevron by 264.9% during the fourth quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock worth $42,000 after purchasing an additional 204 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on CVX shares. Barclays decreased their target price on shares of Chevron from $203.00 to $185.00 and set an “overweight” rating on the stock in a report on Tuesday, August 6th. Wolfe Research initiated coverage on shares of Chevron in a research note on Thursday, July 18th. They set a “peer perform” rating on the stock. Sanford C. Bernstein downgraded shares of Chevron from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $183.00 to $167.00 in a research report on Wednesday, July 17th. Truist Financial decreased their price target on shares of Chevron from $156.00 to $154.00 and set a “hold” rating for the company in a research note on Monday, August 5th. Finally, Scotiabank reduced their target price on shares of Chevron from $195.00 to $180.00 and set a “sector outperform” rating for the company in a research note on Friday, July 12th. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $182.88.

Chevron Trading Up 1.0 %

Shares of Chevron stock opened at $143.46 on Wednesday. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $171.70. The stock has a market cap of $262.38 billion, a P/E ratio of 13.20, a P/E/G ratio of 2.41 and a beta of 1.09. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13. The business’s 50 day moving average is $148.69 and its 200-day moving average is $154.61.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). The firm had revenue of $51.18 billion during the quarter, compared to analyst estimates of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the company earned $3.08 earnings per share. Equities research analysts predict that Chevron Co. will post 11.57 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 4.54%. The ex-dividend date of this dividend was Monday, August 19th. Chevron’s dividend payout ratio (DPR) is currently 59.98%.

About Chevron

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.