MainStreet Investment Advisors LLC Has $9.48 Million Position in Chevron Co. (NYSE:CVX)

MainStreet Investment Advisors LLC cut its holdings in shares of Chevron Co. (NYSE:CVX) by 2.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 65,414 shares of the oil and gas company’s stock after selling 1,393 shares during the period. Chevron comprises approximately 1.3% of MainStreet Investment Advisors LLC’s portfolio, making the stock its 24th largest position. MainStreet Investment Advisors LLC’s holdings in Chevron were worth $9,475,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Malaga Cove Capital LLC lifted its stake in shares of Chevron by 2.3% in the fourth quarter. Malaga Cove Capital LLC now owns 4,420 shares of the oil and gas company’s stock worth $640,000 after acquiring an additional 100 shares during the period. Nearwater Capital Markets Ltd acquired a new position in Chevron in the fourth quarter valued at approximately $30,412,000. NorthRock Partners LLC boosted its holdings in shares of Chevron by 210.7% during the 4th quarter. NorthRock Partners LLC now owns 39,958 shares of the oil and gas company’s stock worth $5,788,000 after buying an additional 27,096 shares in the last quarter. Nuveen Asset Management LLC boosted its stake in Chevron by 3.1% during the fourth quarter. Nuveen Asset Management LLC now owns 7,842,230 shares of the oil and gas company’s stock worth $1,135,869,000 after acquiring an additional 233,932 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp grew its stake in shares of Chevron by 30.4% in the 4th quarter. OMERS ADMINISTRATION Corp now owns 83,799 shares of the oil and gas company’s stock valued at $12,137,000 after buying an additional 19,549 shares during the period. Institutional investors own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. UBS Group cut their target price on Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a report on Monday, April 7th. HSBC lowered shares of Chevron from a “buy” rating to a “hold” rating and reduced their target price for the stock from $176.00 to $158.00 in a research note on Tuesday. Mizuho decreased their price objective on shares of Chevron from $188.00 to $186.00 and set an “outperform” rating for the company in a research note on Tuesday. TD Cowen lowered their target price on Chevron from $155.00 to $150.00 and set a “hold” rating on the stock in a research note on Monday, May 5th. Finally, Raymond James reduced their target price on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research report on Monday, February 3rd. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Chevron presently has a consensus rating of “Hold” and a consensus price target of $160.24.

Chevron Trading Up 0.5%

Shares of Chevron stock opened at $142.31 on Wednesday. The company’s 50-day moving average price is $147.51 and its 200-day moving average price is $151.94. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The company has a market cap of $250.55 billion, a price-to-earnings ratio of 14.64, a PEG ratio of 1.46 and a beta of 0.83. Chevron Co. has a 12-month low of $132.04 and a 12-month high of $168.96.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, topping analysts’ consensus estimates of $2.15 by $0.03. Chevron had a net margin of 8.71% and a return on equity of 11.44%. The firm had revenue of $47.61 billion for the quarter, compared to analyst estimates of $49.05 billion. During the same quarter in the prior year, the firm earned $2.93 EPS. The business’s revenue for the quarter was down 2.3% compared to the same quarter last year. On average, equities analysts expect that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Monday, May 19th will be issued a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 4.81%. The ex-dividend date is Monday, May 19th. Chevron’s dividend payout ratio is currently 78.17%.

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.