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

Mountain Capital Investment Advisors Inc. cut its stake in Chevron Corporation (NYSE:CVX) by 11.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,391 shares of the oil and gas company’s stock after selling 182 shares during the period. Mountain Capital Investment Advisors Inc.’s holdings in Chevron were worth $203,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. LMG Wealth Partners LLC boosted its holdings in shares of Chevron by 2.7% during the 2nd quarter. LMG Wealth Partners LLC now owns 72,514 shares of the oil and gas company’s stock worth $10,383,000 after buying an additional 1,935 shares in the last quarter. Balboa Wealth Partners boosted its holdings in shares of Chevron by 25.8% during the 2nd quarter. Balboa Wealth Partners now owns 4,471 shares of the oil and gas company’s stock worth $640,000 after buying an additional 916 shares in the last quarter. Cidel Asset Management Inc. boosted its holdings in shares of Chevron by 6.1% during the 2nd quarter. Cidel Asset Management Inc. now owns 25,796 shares of the oil and gas company’s stock worth $3,694,000 after buying an additional 1,494 shares in the last quarter. Salomon & Ludwin LLC boosted its holdings in shares of Chevron by 4.3% during the 2nd quarter. Salomon & Ludwin LLC now owns 2,892 shares of the oil and gas company’s stock worth $428,000 after buying an additional 120 shares in the last quarter. Finally, Chicago Partners Investment Group LLC boosted its holdings in shares of Chevron by 12.5% during the 2nd quarter. Chicago Partners Investment Group LLC now owns 21,246 shares of the oil and gas company’s stock worth $3,253,000 after buying an additional 2,362 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors.

Chevron Trading Up 0.9%

NYSE CVX opened at $153.12 on Monday. The firm has a market capitalization of $264.58 billion, a P/E ratio of 19.71, a PEG ratio of 2.02 and a beta of 0.84. The business has a fifty day simple moving average of $156.03 and a 200 day simple moving average of $147.96. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $168.96. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, beating analysts’ consensus estimates of $1.58 by $0.19. The business had revenue of $44.82 billion during the quarter, compared to analyst estimates of $44.59 billion. Chevron had a return on equity of 9.90% and a net margin of 7.02%.Chevron’s quarterly revenue was down 12.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.55 EPS. On average, analysts predict that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date was Tuesday, August 19th. Chevron’s dividend payout ratio is 88.03%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Wells Fargo & Company assumed coverage on Chevron in a report on Friday. They set an “overweight” rating and a $190.00 price target on the stock. Bank of America upped their target price on Chevron from $170.00 to $185.00 and gave the stock a “buy” rating in a research report on Wednesday, September 10th. UBS Group upped their target price on Chevron from $186.00 to $197.00 and gave the stock a “buy” rating in a research report on Wednesday, August 20th. Morgan Stanley initiated coverage on Chevron in a research report on Monday, August 4th. They set an “overweight” rating and a $174.00 target price on the stock. Finally, Scotiabank upped their target price on Chevron from $160.00 to $165.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 9th. Eleven research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $165.25.

Insiders Place Their Bets

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

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.