Mountain Pacific Investment Advisers LLC Cuts Position in Chevron Co. (NYSE:CVX)

Mountain Pacific Investment Advisers LLC lowered its stake in shares of Chevron Co. (NYSE:CVX) by 7.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,601 shares of the oil and gas company’s stock after selling 289 shares during the period. Mountain Pacific Investment Advisers LLC’s holdings in Chevron were worth $530,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CVX. Patten Group Inc. increased its stake in Chevron by 9.0% in the 3rd quarter. Patten Group Inc. now owns 24,245 shares of the oil and gas company’s stock valued at $3,571,000 after purchasing an additional 1,995 shares in the last quarter. Sanibel Captiva Trust Company Inc. grew its holdings in Chevron by 7.4% in the third quarter. Sanibel Captiva Trust Company Inc. now owns 162,730 shares of the oil and gas company’s stock valued at $23,965,000 after purchasing an additional 11,149 shares during the last quarter. CWM LLC increased its position in shares of Chevron by 4.2% in the third quarter. CWM LLC now owns 256,705 shares of the oil and gas company’s stock valued at $37,805,000 after buying an additional 10,337 shares in the last quarter. Saxon Interests Inc. raised its stake in shares of Chevron by 0.8% during the 3rd quarter. Saxon Interests Inc. now owns 18,229 shares of the oil and gas company’s stock worth $2,685,000 after buying an additional 148 shares during the last quarter. Finally, Peddock Capital Advisors LLC boosted its position in shares of Chevron by 0.5% in the 3rd quarter. Peddock Capital Advisors LLC now owns 61,525 shares of the oil and gas company’s stock worth $9,061,000 after buying an additional 335 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Price Performance

Shares of Chevron stock opened at $149.70 on Thursday. The stock has a market capitalization of $273.79 billion, a P/E ratio of 13.77, a PEG ratio of 2.72 and a beta of 1.09. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13. The business’s fifty day moving average price is $145.45 and its 200 day moving average price is $154.02. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $170.17.

Chevron (NYSE:CVX) last issued its 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 quarter in the previous year, the firm posted $3.08 EPS. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, research analysts anticipate that Chevron Co. will post 11.09 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were issued a dividend of $1.63 per share. The ex-dividend date was Monday, August 19th. This represents a $6.52 annualized dividend and a dividend yield of 4.36%. Chevron’s payout ratio is 59.98%.

Wall Street Analyst Weigh In

CVX has been the subject of several recent research reports. Royal Bank of Canada restated an “outperform” rating and set a $170.00 target price on shares of Chevron in a report on Tuesday. Wells Fargo & Company cut their price objective on Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research report on Friday, September 27th. UBS Group increased their target price on Chevron from $189.00 to $192.00 and gave the company a “buy” rating in a report on Tuesday. Barclays cut their price target on Chevron from $185.00 to $168.00 and set an “overweight” rating for the company in a report on Thursday, October 3rd. Finally, Scotiabank decreased their price objective on Chevron from $195.00 to $180.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 12th. Six research 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, Chevron has an average rating of “Moderate Buy” and a consensus target price of $178.59.

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.