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

MainStreet Investment Advisors LLC trimmed its stake in shares of Chevron Co. (NYSE:CVX) by 2.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 65,414 shares of the oil and gas company’s stock after selling 1,393 shares during the period. Chevron makes up about 1.3% of MainStreet Investment Advisors LLC’s investment portfolio, making the stock its 24th biggest position. MainStreet Investment Advisors LLC’s holdings in Chevron were worth $9,475,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Life Planning Partners Inc bought a new stake in Chevron during the 4th quarter worth about $25,000. IMG Wealth Management Inc. bought a new position in Chevron during the 4th quarter worth approximately $25,000. Mizuho Securities Co. Ltd. acquired a new position in Chevron during the fourth quarter valued at approximately $29,000. Fairway Wealth LLC raised its holdings in Chevron by 75.9% in the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock worth $30,000 after purchasing an additional 88 shares during the period. Finally, Navigoe LLC bought a new position in Chevron during the fourth quarter worth about $33,000. 72.42% of the stock is owned by institutional investors.

Chevron Stock Up 0.5%

Shares of NYSE CVX opened at $142.31 on Wednesday. The stock has a market capitalization of $250.55 billion, a P/E ratio of 14.64, a PEG ratio of 1.46 and a beta of 0.83. The stock’s fifty day moving average is $147.51 and its 200 day moving average is $151.94. Chevron Co. has a 52 week low of $132.04 and a 52 week high of $168.96. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07.

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

Chevron Dividend Announcement

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

Wall Street Analyst Weigh In

CVX has been the topic of a number of research reports. Piper Sandler cut their price target on shares of Chevron from $173.00 to $162.00 and set an “overweight” rating on the stock in a research note on Tuesday. Scotiabank downgraded shares of Chevron from a “sector outperform” rating to a “sector perform” rating and lowered their price objective for the company from $160.00 to $143.00 in a report on Friday, April 11th. Wells Fargo & Company lowered their price target on shares of Chevron from $173.00 to $164.00 and set an “overweight” rating on the stock in a research note on Monday, May 5th. Raymond James reduced their price target on Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research report on Monday, February 3rd. Finally, Mizuho lowered their price objective on shares of Chevron from $188.00 to $186.00 and set an “outperform” rating on the stock in a research note on Tuesday. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $160.24.

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.