Chevron Co. (NYSE:CVX) Shares Sold by M&R Capital Management Inc.

M&R Capital Management Inc. trimmed its position in shares of Chevron Co. (NYSE:CVX) by 9.3% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,940 shares of the oil and gas company’s stock after selling 1,329 shares during the period. M&R Capital Management Inc.’s holdings in Chevron were worth $931,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Selective Wealth Management Inc. purchased a new position in Chevron in the second quarter valued at $25,000. Demars Financial Group LLC purchased a new position in Chevron in the second quarter valued at $32,000. Marshall & Sullivan Inc. WA purchased a new position in Chevron in the second quarter valued at $36,000. Asset Advisors Investment Management LLC purchased a new position in Chevron in the second quarter valued at $36,000. Finally, Watson Rebecca purchased a new position in Chevron in the second quarter valued at $39,000. Institutional investors and hedge funds own 64.01% of the company’s stock.

In related news, insider David A. Inchausti sold 5,750 shares of the company’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $92.00, for a total transaction of $529,000.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.28% of the company’s stock.

Several equities analysts recently commented on CVX shares. Raymond James increased their target price on Chevron from $95.00 to $100.00 and gave the company an “outperform” rating in a report on Monday, July 20th. Zacks Investment Research upgraded Chevron from a “hold” rating to a “strong-buy” rating and set a $105.00 target price on the stock in a research report on Wednesday, July 22nd. Scotia Howard Weill cut Chevron from a “buy” rating to a “sector perform” rating and set a $121.00 target price for the company. in a research report on Thursday, September 24th. JPMorgan Chase & Co. raised their price target on Chevron from $103.00 to $109.00 and gave the stock an “overweight” rating in a research note on Monday, June 8th. Finally, Scotiabank cut Chevron from a “sector outperform” rating to a “sector perform” rating and set a $95.00 price objective for the company. in a research note on Wednesday, September 23rd. One research analyst has rated the stock with a sell rating, ten have given a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. Chevron has a consensus rating of “Buy” and an average target price of $108.08.

Shares of Chevron stock traded down $1.58 during trading hours on Thursday, hitting $70.42. 14,923,677 shares of the company were exchanged, compared to its average volume of 11,217,286. Chevron Co. has a 1 year low of $51.60 and a 1 year high of $122.94. The company has a current ratio of 1.14, a quick ratio of 0.87 and a debt-to-equity ratio of 0.23. The business has a 50-day moving average of $81.60 and a 200-day moving average of $85.10. The stock has a market capitalization of $131.49 billion, a price-to-earnings ratio of -15.11, a P/E/G ratio of 146.59 and a beta of 1.21.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, July 31st. The oil and gas company reported ($1.59) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.93) by ($0.66). Chevron had a positive return on equity of 3.61% and a negative net margin of 7.41%. The company had revenue of $13.95 billion for the quarter, compared to analysts’ expectations of $21.71 billion. During the same quarter last year, the company earned $1.77 EPS. Chevron’s revenue for the quarter was down 64.1% compared to the same quarter last year. As a group, research analysts anticipate that Chevron Co. will post 0.1 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Wednesday, August 19th were issued a dividend of $1.29 per share. This represents a $5.16 dividend on an annualized basis and a yield of 7.33%. The ex-dividend date of this dividend was Tuesday, August 18th. Chevron’s dividend payout ratio is presently 82.30%.

Chevron Company Profile

Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production of crude oil and natural gas; processing, liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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