Mutual of America Capital Management LLC Trims Holdings in Chevron Corporation (NYSE:CVX)

Mutual of America Capital Management LLC reduced its stake in Chevron Corporation (NYSE:CVX - Free Report) by 2.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 200,597 shares of the oil and gas company's stock after selling 5,863 shares during the period. Chevron accounts for 0.4% of Mutual of America Capital Management LLC's holdings, making the stock its 25th biggest holding. Mutual of America Capital Management LLC's holdings in Chevron were worth $33,558,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the stock. Platform Technology Partners grew its stake in Chevron by 3.0% in the 1st quarter. Platform Technology Partners now owns 23,659 shares of the oil and gas company's stock worth $3,958,000 after acquiring an additional 688 shares in the last quarter. Kathmere Capital Management LLC grew its stake in Chevron by 97.6% in the 1st quarter. Kathmere Capital Management LLC now owns 5,451 shares of the oil and gas company's stock worth $912,000 after acquiring an additional 2,692 shares in the last quarter. Ballentine Partners LLC lifted its position in shares of Chevron by 7.4% in the 1st quarter. Ballentine Partners LLC now owns 36,398 shares of the oil and gas company's stock worth $6,089,000 after purchasing an additional 2,497 shares during the period. B & T Capital Management DBA Alpha Capital Management lifted its position in shares of Chevron by 6.0% in the 1st quarter. B & T Capital Management DBA Alpha Capital Management now owns 26,918 shares of the oil and gas company's stock worth $4,503,000 after purchasing an additional 1,519 shares during the period. Finally, Coyle Financial Counsel LLC lifted its position in shares of Chevron by 8.9% in the 1st quarter. Coyle Financial Counsel LLC now owns 1,677 shares of the oil and gas company's stock worth $281,000 after purchasing an additional 137 shares during the period. 72.42% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CVX has been the subject of several research reports. BNP Paribas cut shares of Chevron to a "cautious" rating in a research report on Tuesday, April 15th. DZ Bank cut shares of Chevron from a "buy" rating to a "sell" rating and set a $130.00 price target for the company. in a research report on Tuesday, May 6th. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $165.00 price target (up previously from $164.00) on shares of Chevron in a research report on Thursday, June 26th. Mizuho lowered their price target on shares of Chevron from $188.00 to $186.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. Finally, Barclays reaffirmed an "equal weight" rating on shares of Chevron in a research report on Tuesday. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Chevron currently has a consensus rating of "Hold" and a consensus price target of $161.65.

Chevron Stock Down 0.6%

NYSE:CVX traded down $0.94 during midday trading on Tuesday, reaching $150.71. 7,342,550 shares of the stock traded hands, compared to its average volume of 8,375,837. Chevron Corporation has a 12-month low of $132.04 and a 12-month high of $168.96. The business has a 50-day moving average of $142.95 and a two-hundred day moving average of $148.52. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.82 and a current ratio of 1.08. The stock has a market capitalization of $263.20 billion, a PE ratio of 17.22, a price-to-earnings-growth ratio of 2.57 and a beta of 0.83.

Chevron (NYSE:CVX - Get Free Report) last posted its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, topping the consensus estimate of $2.15 by $0.03. Chevron had a net margin of 7.76% and a return on equity of 10.73%. The business had revenue of $47.61 billion during the quarter, compared to the consensus estimate of $49.05 billion. During the same period in the previous year, the firm posted $2.93 earnings per share. The business's revenue for the quarter was down 2.3% compared to the same quarter last year. On average, equities analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were paid a $1.71 dividend. The ex-dividend date was Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a yield of 4.54%. Chevron's dividend payout ratio (DPR) is 78.17%.

About Chevron

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.