Mutual of America Capital Management LLC Sells 5,380 Shares of Chevron Corporation $CVX

Mutual of America Capital Management LLC reduced its position in Chevron Corporation (NYSE:CVX) by 2.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 209,468 shares of the oil and gas company’s stock after selling 5,380 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Chevron were worth $31,925,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of Chevron by 17.9% in the 3rd quarter. Vanguard Group Inc. now owns 183,790,028 shares of the oil and gas company’s stock valued at $28,540,753,000 after purchasing an additional 27,961,463 shares in the last quarter. State Street Corp boosted its stake in shares of Chevron by 9.1% in the 3rd quarter. State Street Corp now owns 152,605,988 shares of the oil and gas company’s stock valued at $23,698,184,000 after purchasing an additional 12,789,399 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Chevron by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 43,613,011 shares of the oil and gas company’s stock valued at $6,620,187,000 after purchasing an additional 134,890 shares in the last quarter. Norges Bank acquired a new stake in shares of Chevron in the 4th quarter valued at approximately $3,727,586,000. Finally, Northern Trust Corp boosted its stake in shares of Chevron by 15.3% in the 3rd quarter. Northern Trust Corp now owns 22,724,515 shares of the oil and gas company’s stock valued at $3,528,890,000 after purchasing an additional 3,007,403 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

More Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Escalating Middle East tensions are lifting oil prices and raising the risk of supply disruptions, which could improve Chevron’s realized pricing and earnings. Exxon and Chevron Are Warning That Oil Prices Could Skyrocket in the Coming Weeks. Here’s What That Could Mean for Investors.
• Positive Sentiment: Analysts are highlighting Chevron as a beneficiary of the Iran crisis, and one note recently raised the stock’s price target to $230, reflecting confidence in the company’s exposure to stronger crude markets. Here’s Why Chevron (CVX) is Among the 8 Best Natural Resources Stocks to Buy Now
• Neutral Sentiment: Recent commentary also points to Chevron’s underlying production growth as a long-term support factor, even though the latest quarter showed lower year-over-year earnings due to hedge timing effects. Chevron’s Earnings Dropped Year Over Year, but Production Surged. Here’s What Investors Need to Know.
• Neutral Sentiment: Chevron’s offshore expansion in Guyana and Greece underscores its growth strategy, but the market appears to be focusing more on near-term oil price and geopolitical catalysts today. Chevron Deepens Offshore Bets In Guyana And Greece As Risk Profile Shifts

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on CVX shares. Morgan Stanley raised their price target on shares of Chevron from $212.00 to $214.00 and gave the company an “overweight” rating in a research note on Friday, May 22nd. Royal Bank Of Canada reiterated an “outperform” rating and issued a $220.00 price objective on shares of Chevron in a report on Tuesday, May 5th. Wells Fargo & Company raised their price objective on shares of Chevron from $204.00 to $222.00 and gave the company an “overweight” rating in a report on Thursday, April 9th. Scotiabank raised their price objective on shares of Chevron from $168.00 to $187.00 and gave the company a “sector perform” rating in a report on Wednesday, April 22nd. Finally, Barclays raised their price objective on shares of Chevron from $192.00 to $213.00 and gave the company an “equal weight” rating in a report on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $205.70.

Chevron Stock Up 1.7%

Chevron stock opened at $185.58 on Tuesday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.84 and a current ratio of 1.09. Chevron Corporation has a 52-week low of $136.43 and a 52-week high of $214.71. The firm has a 50 day moving average price of $191.96 and a two-hundred day moving average price of $176.04. The firm has a market cap of $369.60 billion, a price-to-earnings ratio of 32.16, a PEG ratio of 0.60 and a beta of 0.48.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.41. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The firm had revenue of $47.56 billion during the quarter, compared to analyst estimates of $51.86 billion. During the same quarter last year, the business earned $2.18 EPS. The company’s revenue was up 2.1% compared to the same quarter last year. Equities analysts predict that Chevron Corporation will post 15.74 EPS for the current year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 19th will be issued a dividend of $1.78 per share. The ex-dividend date is Tuesday, May 19th. This represents a $7.12 annualized dividend and a yield of 3.8%. Chevron’s dividend payout ratio (DPR) is presently 123.40%.

Insider Activity at Chevron

In other news, Director John B. Hess sold 380,000 shares of Chevron stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $193.20, for a total value of $73,416,000.00. Following the completion of the sale, the director owned 278,045 shares in the company, valued at $53,718,294. The trade was a 57.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider R. Hewitt Pate sold 47,200 shares of Chevron stock in a transaction on Friday, March 6th. The shares were sold at an average price of $192.12, for a total transaction of $9,068,064.00. Following the completion of the sale, the insider owned 8,558 shares of the company’s stock, valued at $1,644,162.96. This represents a 84.65% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 662,400 shares of company stock valued at $127,090,824. Company insiders own 0.56% of the company’s stock.

Chevron Company Profile

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.