MRA Advisory Group Cuts Holdings in Chevron Co. (NYSE:CVX)

MRA Advisory Group decreased its holdings in Chevron Co. (NYSE:CVX) by 4.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,758 shares of the oil and gas company’s stock after selling 122 shares during the period. MRA Advisory Group’s holdings in Chevron were worth $406,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of CVX. Berkshire Hathaway Inc boosted its position in Chevron by 14.4% during the fourth quarter. Berkshire Hathaway Inc now owns 126,093,326 shares of the oil and gas company’s stock valued at $18,808,081,000 after purchasing an additional 15,845,037 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Chevron by 55.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 8,537,859 shares of the oil and gas company’s stock valued at $1,335,492,000 after buying an additional 3,048,819 shares in the last quarter. Wulff Hansen & CO. grew its position in shares of Chevron by 15,542.0% in the 2nd quarter. Wulff Hansen & CO. now owns 1,175,653 shares of the oil and gas company’s stock worth $183,896,000 after buying an additional 1,168,137 shares during the last quarter. Global Assets Advisory LLC bought a new position in shares of Chevron during the 1st quarter worth approximately $156,482,000. Finally, Confluence Investment Management LLC bought a new position in shares of Chevron during the 1st quarter worth approximately $123,681,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

Shares of CVX stock opened at $151.22 on Friday. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $170.17. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13. The stock has a market cap of $278.69 billion, a PE ratio of 13.91, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. The business has a 50-day simple moving average of $146.13 and a 200-day simple moving average of $154.17.

Chevron (NYSE:CVX) last announced 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 company had revenue of $51.18 billion for the quarter, compared to analysts’ expectations of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. The firm’s revenue was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.08 earnings per share. On average, equities analysts expect that Chevron Co. will post 11.02 EPS for the current year.

Chevron Announces Dividend

The company also recently declared 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. This represents a $6.52 dividend on an annualized basis and a yield of 4.31%. The ex-dividend date was Monday, August 19th. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CVX. Scotiabank cut their price target 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. UBS Group lowered their price objective on Chevron from $192.00 to $189.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Sanford C. Bernstein lowered Chevron from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $183.00 to $167.00 in a research report on Wednesday, July 17th. Wells Fargo & Company lowered their price target on Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a report on Friday, September 27th. Finally, Mizuho dropped their price target on Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research note on Monday, September 16th. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Chevron has a consensus rating of “Moderate Buy” and a consensus target price of $179.00.

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.