M&R Capital Management Inc. Has $1.13 Million Position in Chevron Co. (NYSE:CVX)

M&R Capital Management Inc. reduced its stake in Chevron Co. (NYSE:CVX) by 1.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,185 shares of the oil and gas company’s stock after selling 117 shares during the period. M&R Capital Management Inc.’s holdings in Chevron were worth $1,131,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Rebalance LLC acquired a new stake in shares of Chevron during the 4th quarter worth about $26,000. NewSquare Capital LLC raised its stake in shares of Chevron by 52.3% in the first quarter. NewSquare Capital LLC now owns 195 shares of the oil and gas company’s stock valued at $32,000 after acquiring an additional 67 shares during the last quarter. Artemis Wealth Advisors LLC acquired a new position in shares of Chevron in the 1st quarter worth approximately $33,000. Worth Asset Management LLC bought a new stake in Chevron during the 1st quarter worth approximately $36,000. Finally, HBC Financial Services PLLC acquired a new stake in Chevron during the 1st quarter valued at $37,000. Institutional investors own 68.87% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. The Goldman Sachs Group upgraded Chevron from a “neutral” rating to a “buy” rating and increased their target price for the stock from $166.00 to $187.00 in a report on Monday, July 31st. HSBC increased their price target on shares of Chevron from $180.00 to $184.00 in a research note on Wednesday, August 9th. Piper Sandler reduced their price objective on Chevron from $196.00 to $188.00 in a report on Tuesday, June 13th. JPMorgan Chase & Co. upgraded Chevron from an “underweight” rating to a “neutral” rating and raised their price target for the company from $161.00 to $170.00 in a report on Wednesday, May 31st. Finally, Mizuho upgraded shares of Chevron from a “neutral” rating to a “buy” rating and increased their price objective for the company from $205.00 to $209.00 in a report on Wednesday, August 16th. Seven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Chevron presently has an average rating of “Moderate Buy” and a consensus price target of $190.28.

Insider Activity at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 3,750 shares of the business’s stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $160.88, for a total transaction of $603,300.00. Following the transaction, the vice president now owns 1,718 shares of the company’s stock, valued at approximately $276,391.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Chevron news, CFO Pierre R. Breber sold 25,000 shares of the firm’s stock in a transaction on Friday, August 11th. The stock was sold at an average price of $164.00, for a total transaction of $4,100,000.00. Following the completion of the sale, the chief financial officer now owns 6,021 shares of the company’s stock, valued at approximately $987,444. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Jeff B. Gustavson sold 3,750 shares of the company’s stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $160.88, for a total transaction of $603,300.00. Following the completion of the transaction, the vice president now owns 1,718 shares in the company, valued at $276,391.84. The disclosure for this sale can be found here. Insiders own 0.18% of the company’s stock.

Chevron Stock Up 0.6 %

NYSE:CVX opened at $167.23 on Friday. The stock has a 50-day simple moving average of $160.27 and a 200 day simple moving average of $160.10. Chevron Co. has a 52-week low of $140.46 and a 52-week high of $189.68. The company has a market cap of $312.26 billion, a PE ratio of 10.60, a PEG ratio of 0.88 and a beta of 1.18. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.13 and a current ratio of 1.43.

Chevron (NYSE:CVX) last announced its earnings results on Friday, July 28th. The oil and gas company reported $3.08 EPS for the quarter, topping the consensus estimate of $2.95 by $0.13. Chevron had a net margin of 13.54% and a return on equity of 19.48%. The business had revenue of $48.90 billion during the quarter, compared to analysts’ expectations of $48 billion. During the same quarter in the prior year, the company posted $5.82 earnings per share. The firm’s revenue was down 28.9% on a year-over-year basis. On average, sell-side analysts expect that Chevron Co. will post 13.19 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 11th. Investors of record on Friday, August 18th were issued a dividend of $1.51 per share. The ex-dividend date of this dividend was Thursday, August 17th. This represents a $6.04 annualized dividend and a yield of 3.61%. Chevron’s payout ratio is presently 38.30%.

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; liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and processing, transportation, storage, and marketing of natural gas, as well as a gas-to-liquids plant.