Chevron Co. (NYSE:CVX) Stock Holdings Lifted by MCIA Inc

MCIA Inc lifted its holdings in Chevron Co. (NYSE:CVX – Get Rating) by 12.9% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 14,525 shares of the oil and gas company’s stock after purchasing an additional 1,657 shares during the period. Chevron comprises approximately 1.2% of MCIA Inc’s portfolio, making the stock its 18th largest holding. MCIA Inc’s holdings in Chevron were worth $2,557,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Good Life Advisors LLC lifted its position in shares of Chevron by 2.6% in the 3rd quarter. Good Life Advisors LLC now owns 28,054 shares of the oil and gas company’s stock worth $4,031,000 after buying an additional 719 shares during the last quarter. Sage Mountain Advisors LLC lifted its position in Chevron by 77.1% in the 2nd quarter. Sage Mountain Advisors LLC now owns 6,046 shares of the oil and gas company’s stock valued at $875,000 after purchasing an additional 2,632 shares during the last quarter. CapWealth Advisors LLC lifted its position in Chevron by 0.6% in the 3rd quarter. CapWealth Advisors LLC now owns 173,721 shares of the oil and gas company’s stock valued at $24,959,000 after purchasing an additional 1,097 shares during the last quarter. Joel Isaacson & Co. LLC lifted its position in Chevron by 0.8% in the 3rd quarter. Joel Isaacson & Co. LLC now owns 18,710 shares of the oil and gas company’s stock valued at $2,688,000 after purchasing an additional 155 shares during the last quarter. Finally, Cypress Capital Management LLC lifted its position in Chevron by 0.6% in the 3rd quarter. Cypress Capital Management LLC now owns 46,934 shares of the oil and gas company’s stock valued at $6,743,000 after purchasing an additional 293 shares during the last quarter. 69.37% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. BNP Paribas downgraded shares of Chevron from a “neutral” rating to an “underperform” rating and set a $190.00 price objective on the stock. in a research report on Wednesday, December 14th. Bank of America downgraded shares of Chevron from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $190.00 to $191.00 in a research report on Friday, January 6th. Mizuho reiterated a “neutral” rating and issued a $206.00 price objective on shares of Chevron in a research report on Friday. StockNews.com assumed coverage on shares of Chevron in a research report on Thursday. They issued a “hold” rating on the stock. Finally, Cowen lowered their target price on shares of Chevron from $185.00 to $170.00 and set an “outperform” rating on the stock in a research note on Friday, February 24th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $189.50.

Chevron Stock Performance

Shares of CVX opened at $152.34 on Friday. The firm’s 50 day moving average is $169.06 and its 200-day moving average is $169.44. The stock has a market capitalization of $290.46 billion, a P/E ratio of 8.33, a P/E/G ratio of 0.73 and a beta of 1.16. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.47 and a quick ratio of 1.23. Chevron Co. has a 12-month low of $132.54 and a 12-month high of $189.68.

Chevron (NYSE:CVX – Get Rating) last announced its quarterly earnings data on Friday, January 27th. The oil and gas company reported $4.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.16 by ($0.07). The business had revenue of $56.47 billion during the quarter, compared to analyst estimates of $53.97 billion. Chevron had a return on equity of 23.52% and a net margin of 14.40%. The business’s revenue for the quarter was up 17.1% on a year-over-year basis. During the same period in the prior year, the firm earned $2.56 EPS. Equities research analysts anticipate that Chevron Co. will post 14.73 EPS for the current fiscal year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 10th. Stockholders of record on Thursday, February 16th were given a $1.51 dividend. This is an increase from Chevron’s previous quarterly dividend of $1.42. This represents a $6.04 annualized dividend and a dividend yield of 3.96%. The ex-dividend date was Wednesday, February 15th. Chevron’s dividend payout ratio (DPR) is 33.04%.

Chevron declared that its board has authorized a stock repurchase program on Wednesday, January 25th that permits the company to repurchase $75.00 billion in outstanding shares. This repurchase authorization permits the oil and gas company to purchase up to 21.7% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Chevron

In other news, VP Rhonda J. Morris sold 19,666 shares of Chevron stock in a transaction that occurred on Tuesday, February 7th. The shares were sold at an average price of $170.00, for a total value of $3,343,220.00. Following the transaction, the vice president now directly owns 3,967 shares of the company’s stock, valued at $674,390. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.32% of the stock is currently owned by insiders.

Chevron Profile

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Chevron Corp. engages in the provision of administrative, financial management, and technology support for energy and chemical operations. It operates through the Upstream and Downstream segments. The Upstream segment consists of the exploration, development, and production of crude oil and natural gas, the liquefaction, transportation, and regasification associated with liquefied natural gas, the transporting of crude oil by major international oil export pipelines, the processing, transporting, storage, and marketing of natural gas, and a gas-to-liquids plant.