Chevron Co. (NYSE:CVX) Position Cut by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC lowered its position in shares of Chevron Co. (NYSE:CVX) by 4.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 215,686 shares of the oil and gas company’s stock after selling 10,892 shares during the period. Mutual of America Capital Management LLC’s holdings in Chevron were worth $31,764,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Rational Advisors LLC acquired a new stake in shares of Chevron in the third quarter valued at approximately $29,000. Anfield Capital Management LLC boosted its position in shares of Chevron by 118.0% during the second quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock worth $34,000 after buying an additional 118 shares during the period. Cyrus J. Lawrence LLC grew its holdings in Chevron by 66.7% in the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after buying an additional 100 shares in the last quarter. Krane Funds Advisors LLC acquired a new stake in Chevron in the 3rd quarter valued at approximately $47,000. Finally, Livelsberger Financial Advisory bought a new stake in Chevron during the 3rd quarter valued at $47,000. Institutional investors own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CVX. Scotiabank decreased their price target on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Truist Financial upped their price objective on shares of Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a report on Monday, November 4th. DZ Bank raised shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price on the stock in a research note on Tuesday, November 5th. Mizuho reduced their price target on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research note on Monday, September 16th. Finally, Wells Fargo & Company lowered their price objective on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a research note on Friday, September 27th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $174.93.

Chevron Stock Performance

Shares of NYSE CVX opened at $161.42 on Friday. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $167.11. The stock has a market capitalization of $290.09 billion, a price-to-earnings ratio of 17.74, a PEG ratio of 3.63 and a beta of 1.09. 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 stock’s fifty day simple moving average is $149.39 and its 200 day simple moving average is $152.62.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, topping analysts’ consensus estimates of $2.47 by $0.04. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The firm had revenue of $50.67 billion for the quarter, compared to analysts’ expectations of $48.86 billion. Chevron’s revenue was down 6.3% on a year-over-year basis. During the same quarter last year, the business posted $3.05 EPS. As a group, sell-side analysts forecast that Chevron Co. will post 10.55 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company 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 $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date is Monday, November 18th. Chevron’s dividend payout ratio is 71.65%.

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.