Mutual of America Capital Management LLC Trims Stake in Chevron Co. (NYSE:CVX)

Mutual of America Capital Management LLC reduced its holdings in shares of Chevron Co. (NYSE:CVX) by 4.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 206,460 shares of the oil and gas company’s stock after selling 9,226 shares during the period. Chevron comprises 0.3% of Mutual of America Capital Management LLC’s portfolio, making the stock its 29th largest holding. Mutual of America Capital Management LLC’s holdings in Chevron were worth $29,904,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Waterway Wealth Management LLC boosted its position in shares of Chevron by 8.5% in the fourth quarter. Waterway Wealth Management LLC now owns 7,680 shares of the oil and gas company’s stock worth $1,112,000 after purchasing an additional 603 shares during the period. Pettyjohn Wood & White Inc. boosted its position in shares of Chevron by 0.8% in the fourth quarter. Pettyjohn Wood & White Inc. now owns 50,205 shares of the oil and gas company’s stock worth $7,272,000 after purchasing an additional 393 shares during the period. Hosking Partners LLP boosted its position in shares of Chevron by 34.5% in the fourth quarter. Hosking Partners LLP now owns 39,206 shares of the oil and gas company’s stock worth $5,679,000 after purchasing an additional 10,054 shares during the period. Fielder Capital Group LLC boosted its position in shares of Chevron by 0.6% in the fourth quarter. Fielder Capital Group LLC now owns 17,266 shares of the oil and gas company’s stock worth $2,501,000 after purchasing an additional 95 shares during the period. Finally, Private Capital Management LLC boosted its position in shares of Chevron by 3.5% in the third quarter. Private Capital Management LLC now owns 18,588 shares of the oil and gas company’s stock worth $2,737,000 after purchasing an additional 625 shares during the period. 72.42% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, VP Jeff B. Gustavson sold 9,325 shares of the stock in a transaction on Friday, February 7th. The shares were sold at an average price of $152.50, for a total value of $1,422,062.50. Following the sale, the vice president now owns 1,057 shares of the company’s stock, valued at approximately $161,192.50. This represents a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on CVX shares. Citigroup upgraded shares of Chevron from a “neutral” rating to a “buy” rating and upped their price target for the stock from $145.00 to $185.00 in a research report on Tuesday, November 26th. Raymond James dropped 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. Royal Bank of Canada restated an “outperform” rating and set a $175.00 target price on shares of Chevron in a research report on Monday, February 3rd. Truist Financial dropped their target price 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. Finally, Wells Fargo & Company dropped their target price on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $174.13.

Chevron Price Performance

CVX stock opened at $158.59 on Friday. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.11. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The company has a fifty day simple moving average of $153.14 and a two-hundred day simple moving average of $151.44. The firm has a market capitalization of $285.00 billion, a P/E ratio of 16.32, a price-to-earnings-growth ratio of 1.46 and a beta of 1.11.

Chevron (NYSE:CVX) last announced its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a net margin of 8.71% and a return on equity of 11.44%. During the same quarter in the previous year, the company posted $3.45 earnings per share. Analysts anticipate that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be paid a $1.71 dividend. The ex-dividend date is Friday, February 14th. This represents a $6.84 annualized dividend and a dividend yield of 4.31%. This is an increase from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio is currently 70.37%.

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.