Mutual of America Capital Management LLC Sells 5,380 Shares of Chevron Corporation $CVX

Mutual of America Capital Management LLC lowered its stake in Chevron Corporation (NYSE:CVX) by 2.5% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 209,468 shares of the oil and gas company’s stock after selling 5,380 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Chevron were worth $31,925,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. grew its position in Chevron by 17.9% in the 3rd quarter. Vanguard Group Inc. now owns 183,790,028 shares of the oil and gas company’s stock valued at $28,540,753,000 after purchasing an additional 27,961,463 shares during the period. State Street Corp grew its position in Chevron by 9.1% in the 3rd quarter. State Street Corp now owns 152,605,988 shares of the oil and gas company’s stock valued at $23,698,184,000 after purchasing an additional 12,789,399 shares during the period. Geode Capital Management LLC grew its position in Chevron by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 43,613,011 shares of the oil and gas company’s stock valued at $6,620,187,000 after purchasing an additional 134,890 shares during the period. Norges Bank acquired a new stake in Chevron in the 4th quarter valued at $3,727,586,000. Finally, Northern Trust Corp grew its position in Chevron by 15.3% in the 3rd quarter. Northern Trust Corp now owns 22,724,515 shares of the oil and gas company’s stock valued at $3,528,890,000 after purchasing an additional 3,007,403 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CVX. The Goldman Sachs Group reissued a “buy” rating and issued a $216.00 price target on shares of Chevron in a research report on Wednesday, May 6th. Sanford C. Bernstein reduced their price target on shares of Chevron from $216.00 to $204.00 and set a “market perform” rating for the company in a research report on Monday, May 11th. Argus set a $203.00 price objective on shares of Chevron in a report on Tuesday, February 3rd. TD Cowen lifted their price objective on shares of Chevron from $204.00 to $205.00 and gave the stock a “hold” rating in a report on Friday, May 8th. Finally, Barclays lifted their price objective on shares of Chevron from $192.00 to $213.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 26th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Chevron currently has an average rating of “Moderate Buy” and an average price target of $205.70.

Insider Buying and Selling

In other news, Director John B. Hess sold 380,000 shares of the stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $193.20, for a total transaction of $73,416,000.00. Following the completion of the transaction, the director directly owned 278,045 shares of the company’s stock, valued at $53,718,294. This represents a 57.75% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider R. Hewitt Pate sold 47,200 shares of the stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $192.12, for a total transaction of $9,068,064.00. Following the transaction, the insider directly owned 8,558 shares of the company’s stock, valued at $1,644,162.96. This represents a 84.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 662,400 shares of company stock valued at $127,090,824 over the last three months. Insiders own 0.56% of the company’s stock.

Chevron Stock Up 1.7%

Chevron stock opened at $185.58 on Tuesday. Chevron Corporation has a twelve month low of $136.43 and a twelve month high of $214.71. The firm has a 50 day moving average price of $191.96 and a 200-day moving average price of $176.04. The company has a market capitalization of $369.60 billion, a P/E ratio of 32.16, a P/E/G ratio of 0.60 and a beta of 0.48. The company has a quick ratio of 0.84, a current ratio of 1.09 and a debt-to-equity ratio of 0.21.

Chevron (NYSE:CVX) last released its earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.41. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The firm had revenue of $47.56 billion during the quarter, compared to the consensus estimate of $51.86 billion. During the same period in the prior year, the firm earned $2.18 EPS. The company’s revenue was up 2.1% compared to the same quarter last year. As a group, equities analysts predict that Chevron Corporation will post 15.74 EPS for the current year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 19th will be given a dividend of $1.78 per share. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend is Tuesday, May 19th. Chevron’s dividend payout ratio is currently 123.40%.

Key Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Escalating Middle East tensions are lifting oil prices and raising the risk of supply disruptions, which could improve Chevron’s realized pricing and earnings. Exxon and Chevron Are Warning That Oil Prices Could Skyrocket in the Coming Weeks. Here’s What That Could Mean for Investors.
• Positive Sentiment: Analysts are highlighting Chevron as a beneficiary of the Iran crisis, and one note recently raised the stock’s price target to $230, reflecting confidence in the company’s exposure to stronger crude markets. Here’s Why Chevron (CVX) is Among the 8 Best Natural Resources Stocks to Buy Now
• Neutral Sentiment: Recent commentary also points to Chevron’s underlying production growth as a long-term support factor, even though the latest quarter showed lower year-over-year earnings due to hedge timing effects. Chevron’s Earnings Dropped Year Over Year, but Production Surged. Here’s What Investors Need to Know.
• Neutral Sentiment: Chevron’s offshore expansion in Guyana and Greece underscores its growth strategy, but the market appears to be focusing more on near-term oil price and geopolitical catalysts today. Chevron Deepens Offshore Bets In Guyana And Greece As Risk Profile Shifts

Chevron Profile

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.