Mercer Global Advisors Inc. ADV Reduces Stock Holdings in Chevron Co. (NYSE:CVX)

Mercer Global Advisors Inc. ADV trimmed its holdings in Chevron Co. (NYSE:CVX - Free Report) by 35.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 369,583 shares of the oil and gas company's stock after selling 205,938 shares during the period. Mercer Global Advisors Inc. ADV's holdings in Chevron were worth $53,055,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. McIlrath & Eck LLC boosted its stake in Chevron by 5.8% during the third quarter. McIlrath & Eck LLC now owns 1,434 shares of the oil and gas company's stock worth $211,000 after buying an additional 78 shares during the period. Westside Investment Management Inc. grew its holdings in Chevron by 9.0% during the 3rd quarter. Westside Investment Management Inc. now owns 3,405 shares of the oil and gas company's stock valued at $503,000 after purchasing an additional 281 shares during the last quarter. Diamant Asset Management Inc. lifted its stake in Chevron by 6.2% in the third quarter. Diamant Asset Management Inc. now owns 5,510 shares of the oil and gas company's stock worth $811,000 after purchasing an additional 320 shares during the last quarter. Wealthquest Corp boosted its position in shares of Chevron by 2.3% during the third quarter. Wealthquest Corp now owns 5,222 shares of the oil and gas company's stock valued at $782,000 after buying an additional 118 shares during the period. Finally, Te Ahumairangi Investment Management Ltd grew its stake in shares of Chevron by 4.5% during the third quarter. Te Ahumairangi Investment Management Ltd now owns 22,219 shares of the oil and gas company's stock valued at $3,254,000 after buying an additional 950 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors.

Chevron Stock Up 1.7 %

Shares of CVX stock traded up $2.27 during trading hours on Friday, reaching $138.53. 12,386,040 shares of the company's stock were exchanged, compared to its average volume of 7,984,072. 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 $243.90 billion, a price-to-earnings ratio of 14.25, a P/E/G ratio of 1.46 and a beta of 0.93. Chevron Co. has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The stock's 50 day moving average is $149.76 and its 200-day moving average is $152.53.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, beating analysts' consensus estimates of $2.15 by $0.03. Chevron had a return on equity of 11.44% and a net margin of 8.71%. The company had revenue of $47.61 billion during the quarter, compared to analysts' expectations of $49.05 billion. During the same period last year, the business posted $2.93 earnings per share. The firm's revenue was down 2.3% compared to the same quarter last year. Analysts predict that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th will be paid a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 4.94%. Chevron's payout ratio is 70.37%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Raymond James decreased their price target on Chevron from $180.00 to $175.00 and set an "outperform" rating for the company in a research note on Monday, February 3rd. Royal Bank of Canada restated an "outperform" rating and issued a $175.00 price target on shares of Chevron in a report on Monday, February 3rd. Truist Financial lowered their price objective on shares of Chevron from $164.00 to $160.00 and set a "hold" rating for the company in a research report on Tuesday, February 4th. UBS Group decreased their price target on shares of Chevron from $194.00 to $185.00 and set a "buy" rating for the company in a research note on Monday, April 7th. Finally, Barclays lowered Chevron from an "overweight" rating to an "equal weight" rating and lowered their price target for the company from $171.00 to $152.00 in a report on Wednesday, April 23rd. Two analysts have rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat.com, Chevron presently has a consensus rating of "Hold" and a consensus price target of $165.27.

Insiders Place Their Bets

In related news, VP Jeff B. Gustavson sold 9,325 shares of the company's stock in a transaction on Friday, February 7th. The stock was sold at an average price of $152.50, for a total value of $1,422,062.50. Following the transaction, the vice president now directly owns 1,057 shares of the company's stock, valued at $161,192.50. This represents a 89.82 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.20% of the company's stock.

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.