Mutual of America Capital Management LLC Sells 7,550 Shares of Chevron Co. (NYSE:CVX)

Mutual of America Capital Management LLC lowered its position in shares of Chevron Co. (NYSE:CVX) by 3.2% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 227,404 shares of the oil and gas company’s stock after selling 7,550 shares during the quarter. Chevron accounts for 0.4% of Mutual of America Capital Management LLC’s holdings, making the stock its 28th biggest position. Mutual of America Capital Management LLC’s holdings in Chevron were worth $35,871,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Pacifica Partners Inc. raised its stake in shares of Chevron by 1.8% during the first quarter. Pacifica Partners Inc. now owns 3,492 shares of the oil and gas company’s stock worth $546,000 after acquiring an additional 63 shares in the last quarter. Private Wealth Management Group LLC raised its position in Chevron by 15.7% in the 1st quarter. Private Wealth Management Group LLC now owns 464 shares of the oil and gas company’s stock worth $73,000 after purchasing an additional 63 shares during the period. Ellenbecker Investment Group boosted its position in Chevron by 1.5% during the first quarter. Ellenbecker Investment Group now owns 4,346 shares of the oil and gas company’s stock valued at $686,000 after buying an additional 65 shares during the period. Mayfair Advisory Group LLC grew its stake in shares of Chevron by 0.7% during the first quarter. Mayfair Advisory Group LLC now owns 9,407 shares of the oil and gas company’s stock valued at $1,484,000 after buying an additional 65 shares during the last quarter. Finally, Penbrook Management LLC lifted its stake in shares of Chevron by 3.9% in the 1st quarter. Penbrook Management LLC now owns 1,730 shares of the oil and gas company’s stock valued at $273,000 after acquiring an additional 65 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Stock Down 0.3 %

CVX stock traded down $0.42 during trading on Tuesday, hitting $153.91. 2,094,007 shares of the stock traded hands, compared to its average volume of 7,934,943. The firm’s 50 day moving average is $158.21 and its two-hundred day moving average is $155.01. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.23 and a quick ratio of 0.93. The stock has a market cap of $283.65 billion, a price-to-earnings ratio of 14.22, a price-to-earnings-growth ratio of 2.35 and a beta of 1.10. Chevron Co. has a 1 year low of $139.62 and a 1 year high of $171.70.

Chevron (NYSE:CVX) last issued its earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, topping the consensus estimate of $2.84 by $0.09. Chevron had a net margin of 10.21% and a return on equity of 14.40%. The company had revenue of $48.72 billion during the quarter, compared to the consensus estimate of $48.42 billion. During the same quarter in the prior year, the firm posted $3.55 EPS. Chevron’s quarterly revenue was down 4.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Chevron Co. will post 13.18 EPS for the current year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 17th were issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 4.24%. The ex-dividend date of this dividend was Thursday, May 16th. Chevron’s dividend payout ratio (DPR) is currently 59.98%.

Insider Activity

In other Chevron news, Director Enrique Hernandez, Jr. sold 5,098 shares of Chevron stock in a transaction on Monday, May 6th. The shares were sold at an average price of $163.50, for a total value of $833,523.00. Following the sale, the director now directly owns 2,549 shares in the company, valued at approximately $416,761.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Enrique Hernandez, Jr. sold 5,098 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $163.50, for a total transaction of $833,523.00. Following the sale, the director now directly owns 2,549 shares of the company’s stock, valued at approximately $416,761.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $165.00, for a total transaction of $462,000.00. Following the completion of the sale, the vice president now owns 276 shares in the company, valued at approximately $45,540. The disclosure for this sale can be found here. Insiders have sold a total of 16,746 shares of company stock worth $2,727,971 over the last quarter. Insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on CVX shares. HSBC lifted their price target on Chevron from $175.00 to $178.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th. Scotiabank raised shares of Chevron from a “sector perform” rating to a “sector outperform” rating and increased their price target for the company from $170.00 to $195.00 in a research report on Thursday, April 11th. The Goldman Sachs Group restated a “buy” rating on shares of Chevron in a research report on Monday, April 1st. Barclays initiated coverage on shares of Chevron in a report on Wednesday, April 10th. They set an “overweight” rating and a $203.00 target price for the company. Finally, Raymond James upped their price target on Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a research report on Monday, April 15th. Five research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Chevron has an average rating of “Moderate Buy” and an average target price of $186.95.

Chevron Company 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.