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

Mutual of America Capital Management LLC cut its position in shares of Chevron Co. (NYSE:CVX) by 0.4% during the second quarter, according to its most recent Form 13F filing 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 0.4% of Mutual of America Capital Management LLC’s holdings, making the stock its 27th biggest position. Mutual of America Capital Management LLC’s holdings in Chevron were worth $35,441,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. American Capital Advisory LLC increased its position in Chevron by 403.2% during the first quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 125 shares during the last quarter. Frank Rimerman Advisors LLC purchased a new position in shares of Chevron in the fourth quarter valued at approximately $30,000. Anfield Capital Management LLC boosted its stake in shares of 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 purchasing an additional 118 shares during the period. Cooksen Wealth LLC purchased a new position in shares of Chevron in the fourth quarter valued at approximately $40,000. Finally, Clear Investment Research LLC lifted its stake in Chevron by 264.9% in the fourth quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock worth $42,000 after acquiring an additional 204 shares during the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Stock Up 1.0 %

NYSE:CVX opened at $143.46 on Wednesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16. The stock has a 50-day simple moving average of $148.69 and a 200 day simple moving average of $154.61. The company has a market cap of $262.38 billion, a PE ratio of 13.20, a PEG ratio of 2.41 and a beta of 1.09. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $171.70.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($0.38). The firm had revenue of $51.18 billion for the quarter, compared to analyst estimates of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the previous year, the business posted $3.08 earnings per share. On average, sell-side analysts expect that Chevron Co. will post 11.57 EPS for the current fiscal year.

Chevron Dividend Announcement

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

Analyst Ratings Changes

CVX has been the topic of a number of research analyst reports. Scotiabank cut their price objective on shares of Chevron from $195.00 to $180.00 and set a “sector outperform” rating on the stock in a report on Friday, July 12th. Mizuho decreased their target price on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research report on Monday. Royal Bank of Canada cut their target price on shares of Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a research note on Monday, August 5th. Wolfe Research initiated coverage on shares of Chevron in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. Finally, Sanford C. Bernstein cut Chevron from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $183.00 to $167.00 in a report on Wednesday, July 17th. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, Chevron presently has a consensus rating of “Moderate Buy” and a consensus target price of $182.88.

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.