MainStreet Investment Advisors LLC Has $11.97 Million Holdings in Chevron Co. (NYSE:CVX)

MainStreet Investment Advisors LLC trimmed its stake in shares of Chevron Co. (NYSE:CVX) by 8.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 76,528 shares of the oil and gas company’s stock after selling 7,459 shares during the period. Chevron comprises about 1.5% of MainStreet Investment Advisors LLC’s portfolio, making the stock its 21st largest position. MainStreet Investment Advisors LLC’s holdings in Chevron were worth $11,971,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. American Capital Advisory LLC grew its stake in shares of Chevron by 403.2% during the 1st quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 125 shares in the last quarter. Frank Rimerman Advisors LLC acquired a new position in Chevron during the fourth quarter worth $30,000. Anfield Capital Management LLC grew its position in Chevron by 118.0% in the second quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock valued at $34,000 after purchasing an additional 118 shares in the last quarter. Cooksen Wealth LLC acquired a new stake in Chevron in the 4th quarter valued at $40,000. Finally, Clear Investment Research LLC lifted its position in Chevron by 264.9% during the 4th quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock worth $42,000 after buying an additional 204 shares in the last quarter. 72.42% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CVX. Sanford C. Bernstein downgraded Chevron from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $183.00 to $167.00 in a research report on Wednesday, July 17th. Royal Bank of Canada lowered their price target on Chevron from $190.00 to $180.00 and set an “outperform” rating on the stock in a research report on Monday, August 5th. Scotiabank cut their price objective on Chevron from $195.00 to $180.00 and set a “sector outperform” rating for the company in a report on Friday, July 12th. Truist Financial decreased their target price on shares of Chevron from $156.00 to $154.00 and set a “hold” rating for the company in a research note on Monday, August 5th. Finally, Wolfe Research started coverage on shares of Chevron in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $183.82.

Chevron Stock Down 1.7 %

CVX stock opened at $138.56 on Friday. Chevron Co. has a fifty-two week low of $137.87 and a fifty-two week high of $171.70. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85. The stock has a market capitalization of $253.42 billion, a price-to-earnings ratio of 12.75, a PEG ratio of 2.40 and a beta of 1.09. The business’s fifty day moving average price is $150.82 and its two-hundred day moving average price is $155.26.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). The business had revenue of $51.18 billion for the quarter, compared to the consensus estimate of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. Chevron’s revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the business posted $3.08 earnings per share. On average, equities analysts anticipate that Chevron Co. will post 11.86 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 19th will be given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 4.71%. The ex-dividend date is Monday, August 19th. Chevron’s dividend payout ratio is currently 59.98%.

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.