M&R Capital Management Inc. Has $1.12 Million Stake in Chevron Co. (NYSE:CVX)

M&R Capital Management Inc. reduced its position in shares of Chevron Co. (NYSE:CVX) by 9.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,109 shares of the oil and gas company’s stock after selling 752 shares during the quarter. M&R Capital Management Inc.’s holdings in Chevron were worth $1,121,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in CVX. Confluence Investment Management LLC bought a new position in Chevron during the first quarter worth about $123,681,000. General Partner Inc. boosted its stake in shares of Chevron by 53.4% during the 1st quarter. General Partner Inc. now owns 4,593 shares of the oil and gas company’s stock worth $724,000 after acquiring an additional 1,599 shares during the period. HighPoint Advisor Group LLC acquired a new position in shares of Chevron during the 4th quarter worth approximately $7,426,000. Fairman Group LLC bought a new stake in Chevron in the 4th quarter valued at $132,000. Finally, Livelsberger Financial Advisory bought a new position in Chevron during the fourth quarter worth $46,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Activity at Chevron

In other Chevron news, Director Enrique Hernandez, Jr. sold 2,549 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $161.00, for a total transaction of $410,389.00. Following the sale, the director now directly owns 7,647 shares of the company’s stock, valued at approximately $1,231,167. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Chevron news, Director Enrique Hernandez, Jr. sold 2,549 shares of Chevron stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $161.00, for a total transaction of $410,389.00. Following the transaction, the director now directly owns 7,647 shares of the company’s stock, valued at approximately $1,231,167. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Jeff B. Gustavson sold 3,750 shares of the stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $160.23, for a total value of $600,862.50. Following the completion of the sale, the vice president now directly owns 477 shares of the company’s stock, valued at approximately $76,429.71. The disclosure for this sale can be found here. Insiders sold a total of 19,546 shares of company stock worth $3,176,223 in the last quarter. 0.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

CVX has been the topic of several research analyst reports. HSBC increased their price objective on shares of Chevron from $175.00 to $178.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. TD Cowen boosted their price objective on Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a report on Monday, April 29th. Scotiabank raised Chevron from a “sector perform” rating to a “sector outperform” rating and upped their target price for the company from $170.00 to $195.00 in a research report on Thursday, April 11th. Wells Fargo & Company lifted their price target on Chevron from $198.00 to $206.00 and gave the stock an “overweight” rating in a report on Tuesday, April 30th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of Chevron in a report on Monday, April 1st. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, Chevron presently has an average rating of “Moderate Buy” and an average price target of $186.95.

Chevron Price Performance

Shares of NYSE:CVX opened at $153.32 on Wednesday. The firm has a 50 day simple moving average of $159.61 and a 200 day simple moving average of $154.05. The company has a market cap of $282.56 billion, a price-to-earnings ratio of 14.10, a PEG ratio of 2.28 and a beta of 1.12. Chevron Co. has a one year low of $139.62 and a one year high of $171.70. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.23 and a quick ratio of 0.93.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, beating analysts’ consensus estimates of $2.84 by $0.09. The company had revenue of $48.72 billion during the quarter, compared to analysts’ expectations of $48.42 billion. Chevron had a return on equity of 14.40% and a net margin of 10.21%. Chevron’s revenue was down 4.1% compared to the same quarter last year. During the same period in the prior year, the company earned $3.55 EPS. Research analysts predict that Chevron Co. will post 13.45 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 17th were paid a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 4.25%. The ex-dividend date was Thursday, May 16th. Chevron’s dividend payout ratio is currently 59.98%.

Chevron 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; 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.