Mount Yale Investment Advisors LLC Trims Stock Holdings in Chevron Co. (NYSE:CVX)

Mount Yale Investment Advisors LLC lessened its position in shares of Chevron Co. (NYSE:CVX) by 46.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,021 shares of the oil and gas company’s stock after selling 9,436 shares during the quarter. Mount Yale Investment Advisors LLC’s holdings in Chevron were worth $1,623,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Eagle Capital Management LLC increased its holdings in Chevron by 0.5% in the 1st quarter. Eagle Capital Management LLC now owns 34,455 shares of the oil and gas company’s stock worth $5,435,000 after buying an additional 163 shares during the period. Leo Wealth LLC raised its holdings in shares of Chevron by 19.6% during the third quarter. Leo Wealth LLC now owns 8,246 shares of the oil and gas company’s stock worth $1,214,000 after purchasing an additional 1,354 shares during the last quarter. Marietta Wealth Management LLC raised its holdings in shares of Chevron by 10.9% during the third quarter. Marietta Wealth Management LLC now owns 40,484 shares of the oil and gas company’s stock worth $5,962,000 after purchasing an additional 3,965 shares during the last quarter. KCM Investment Advisors LLC lifted its position in Chevron by 2.5% during the first quarter. KCM Investment Advisors LLC now owns 331,550 shares of the oil and gas company’s stock valued at $52,299,000 after purchasing an additional 8,168 shares during the period. Finally, Hosking Partners LLP purchased a new stake in Chevron in the first quarter valued at $4,924,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Trading Up 0.2 %

CVX opened at $150.82 on Friday. The business’s 50 day moving average price is $146.51 and its 200 day moving average price is $153.43. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16. The stock has a market capitalization of $277.96 billion, a PE ratio of 13.87, a P/E/G ratio of 3.30 and a beta of 1.09. Chevron Co. has a one year low of $135.37 and a one year high of $167.11.

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

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.32%. The ex-dividend date was Monday, August 19th. Chevron’s dividend payout ratio is presently 59.98%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Sanford C. Bernstein cut shares of Chevron from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $183.00 to $167.00 in a research note on Wednesday, July 17th. Barclays reduced their price target on shares of Chevron from $185.00 to $168.00 and set an “overweight” rating for the company in a research report on Thursday, October 3rd. Wolfe Research assumed coverage on Chevron in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. Wells Fargo & Company decreased their price target on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a research note on Friday, September 27th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $170.00 price objective on shares of Chevron in a research note on Tuesday, October 8th. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $173.07.

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.