Chevron Co. (NYSE:CVX) Shares Sold by MCF Advisors LLC

MCF Advisors LLC lowered its holdings in shares of Chevron Co. (NYSE:CVX) by 8.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,084 shares of the oil and gas company’s stock after selling 746 shares during the period. MCF Advisors LLC’s holdings in Chevron were worth $1,191,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Ameriprise Financial Inc. boosted its stake in shares of Chevron by 3.0% during the second quarter. Ameriprise Financial Inc. now owns 17,111,051 shares of the oil and gas company’s stock valued at $2,676,957,000 after acquiring an additional 501,969 shares during the last quarter. Capital World Investors boosted its stake in shares of Chevron by 3.2% during the 1st quarter. Capital World Investors now owns 16,009,766 shares of the oil and gas company’s stock worth $2,525,380,000 after purchasing an additional 495,879 shares during the last quarter. Legal & General Group Plc grew its holdings in shares of Chevron by 4.9% during the second quarter. Legal & General Group Plc now owns 13,570,971 shares of the oil and gas company’s stock worth $2,122,772,000 after buying an additional 629,644 shares in the last quarter. Capital International Investors raised its position in shares of Chevron by 5.9% in the first quarter. Capital International Investors now owns 13,418,287 shares of the oil and gas company’s stock valued at $2,116,600,000 after buying an additional 743,042 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Chevron by 1.0% during the second quarter. Dimensional Fund Advisors LP now owns 13,021,023 shares of the oil and gas company’s stock valued at $2,036,846,000 after buying an additional 126,889 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Price Performance

CVX stock opened at $150.81 on Friday. The firm has a market cap of $277.94 billion, a P/E ratio of 13.87, a price-to-earnings-growth ratio of 3.30 and a beta of 1.09. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11. The stock has a 50-day simple moving average of $146.59 and a 200-day simple moving average of $153.30.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.38). Chevron had a net margin of 9.31% and a return on equity of 13.70%. The firm had revenue of $51.18 billion during the quarter, compared to analyst estimates of $48.68 billion. During the same period last year, the business earned $3.08 EPS. The firm’s revenue was up 4.7% compared to the same quarter last year. On average, equities analysts predict that Chevron Co. will post 10.86 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 4.32%. The ex-dividend date of this dividend was Monday, August 19th. Chevron’s dividend payout ratio (DPR) is 59.98%.

Wall Street Analyst Weigh In

CVX has been the subject of several analyst reports. Sanford C. Bernstein downgraded Chevron from an “outperform” rating to a “market perform” rating and cut their price target for the company from $183.00 to $167.00 in a report on Wednesday, July 17th. Bank of America assumed coverage on Chevron in a research report on Thursday, October 17th. They set a “buy” rating and a $168.00 target price on the stock. Mizuho lowered their price target on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a report on Monday, September 16th. UBS Group raised their target price on shares of Chevron from $189.00 to $192.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Finally, Scotiabank dropped their price target on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $173.07.

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.