M&R Capital Management Inc. Cuts Stock Holdings in Chevron Co. (NYSE:CVX)

M&R Capital Management Inc. cut its holdings in shares of Chevron Co. (NYSE:CVX) by 6.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,669 shares of the oil and gas company’s stock after selling 440 shares during the period. M&R Capital Management Inc.’s holdings in Chevron were worth $982,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of CVX. American Capital Advisory LLC increased its holdings in shares of Chevron by 403.2% in the 1st quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock valued at $25,000 after acquiring an additional 125 shares during the period. Frank Rimerman Advisors LLC purchased a new position in Chevron in the fourth quarter valued at about $30,000. Anfield Capital Management LLC raised 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 worth $34,000 after purchasing an additional 118 shares in the last quarter. Cyrus J. Lawrence LLC lifted its position in shares of Chevron by 66.7% during the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after buying an additional 100 shares during the last quarter. Finally, Cooksen Wealth LLC bought a new stake in shares of Chevron in the 4th quarter valued at about $40,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Trading Up 0.8 %

Chevron stock opened at $150.97 on Thursday. The firm has a market cap of $276.11 billion, a PE ratio of 13.89, a P/E/G ratio of 2.64 and a beta of 1.09. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $170.17. The stock’s 50 day simple moving average is $146.26 and its two-hundred day simple moving average is $154.19. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). Chevron had a return on equity of 13.70% and a net margin of 9.31%. The firm had revenue of $51.18 billion for the quarter, compared to analysts’ expectations of $48.68 billion. During the same period last year, the company posted $3.08 earnings per share. The business’s quarterly revenue was up 4.7% on a year-over-year basis. Analysts anticipate that Chevron Co. will post 11.02 earnings per share for the current 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 issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 4.32%. The ex-dividend date was Monday, August 19th. Chevron’s payout ratio is 59.98%.

Analyst Upgrades and Downgrades

Several research firms recently commented on CVX. Truist Financial reduced their price objective on shares of Chevron from $154.00 to $150.00 and set a “hold” rating for the company in a research note on Monday. Scotiabank reduced their target price on Chevron from $195.00 to $180.00 and set a “sector outperform” rating on the stock in a research report on Friday, July 12th. Royal Bank of Canada lowered their price target on Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a report on Monday, August 5th. UBS Group cut their price objective on shares of Chevron from $192.00 to $189.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Finally, Wells Fargo & Company lowered their target price on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research note on Friday, September 27th. Seven 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.com, Chevron currently has an average rating of “Moderate Buy” and a consensus target price of $180.00.

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.