Mountain Capital Investment Advisors Inc. Sells 182 Shares of Chevron Corporation $CVX

Mountain Capital Investment Advisors Inc. trimmed its stake in shares of Chevron Corporation (NYSE:CVX) by 11.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,391 shares of the oil and gas company’s stock after selling 182 shares during the quarter. Mountain Capital Investment Advisors Inc.’s holdings in Chevron were worth $203,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CVX. Kingstone Capital Partners Texas LLC boosted its position in Chevron by 652,139.5% during the second quarter. Kingstone Capital Partners Texas LLC now owns 83,714,936 shares of the oil and gas company’s stock worth $13,214,757,000 after purchasing an additional 83,702,101 shares during the period. GQG Partners LLC acquired a new stake in shares of Chevron during the first quarter worth $1,466,751,000. Nuveen LLC acquired a new stake in shares of Chevron during the first quarter worth $1,362,232,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Chevron by 4.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 33,430,030 shares of the oil and gas company’s stock worth $5,592,263,000 after buying an additional 1,574,464 shares in the last quarter. Finally, Canada Pension Plan Investment Board lifted its holdings in shares of Chevron by 141.2% during the first quarter. Canada Pension Plan Investment Board now owns 1,891,824 shares of the oil and gas company’s stock worth $316,483,000 after buying an additional 1,107,628 shares in the last quarter. 72.42% of the stock is owned by institutional investors.

Insider Activity

In other news, VP Alana K. Knowles sold 3,978 shares of the business’s stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $160.00, for a total transaction of $636,480.00. Following the sale, the vice president directly owned 1,181 shares in the company, valued at approximately $188,960. The trade was a 77.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director John B. Hess sold 375,000 shares of the business’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $158.30, for a total value of $59,362,500.00. Following the sale, the director owned 1,403,045 shares in the company, valued at approximately $222,102,023.50. This trade represents a 21.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CVX. Wells Fargo & Company began coverage on Chevron in a report on Friday. They set an “overweight” rating and a $190.00 target price for the company. Mizuho dropped their target price on Chevron from $192.00 to $191.00 and set an “outperform” rating for the company in a report on Monday, September 15th. Melius started coverage on Chevron in a research note on Wednesday, August 20th. They issued a “hold” rating and a $155.00 price target for the company. TD Cowen boosted their price target on Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a research note on Monday, August 4th. Finally, UBS Group boosted their price target on Chevron from $186.00 to $197.00 and gave the company a “buy” rating in a research note on Wednesday, August 20th. Eleven analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $165.25.

Chevron Stock Up 0.9%

Shares of NYSE CVX opened at $153.12 on Monday. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16. The company has a market cap of $264.58 billion, a price-to-earnings ratio of 19.71, a PEG ratio of 2.02 and a beta of 0.84. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $168.96. The stock has a 50-day moving average price of $156.03 and a two-hundred day moving average price of $147.96.

Chevron (NYSE:CVX) last issued its earnings results on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, topping the consensus estimate of $1.58 by $0.19. The firm had revenue of $44.82 billion during the quarter, compared to the consensus estimate of $44.59 billion. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The business’s quarterly revenue was down 12.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.55 earnings per share. As a group, analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were issued a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 4.5%. The ex-dividend date was Tuesday, August 19th. Chevron’s payout ratio is 88.03%.

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.