Mountain Pacific Investment Advisers LLC Decreases Stock Position in Chevron Co. (NYSE:CVX)

Mountain Pacific Investment Advisers LLC lowered its position in shares of Chevron Co. (NYSE:CVX) by 7.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,601 shares of the oil and gas company’s stock after selling 289 shares during the period. Mountain Pacific Investment Advisers LLC’s holdings in Chevron were worth $530,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. American Capital Advisory LLC boosted its position in Chevron by 403.2% in the 1st quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock valued at $25,000 after buying an additional 125 shares during the last quarter. Anfield Capital Management LLC boosted its holdings 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 during the last quarter. Cyrus J. Lawrence LLC grew its stake in Chevron by 66.7% during the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 100 shares in the last quarter. Cooksen Wealth LLC purchased a new stake in Chevron during the 4th quarter worth approximately $40,000. Finally, Vima LLC acquired a new position in shares of Chevron in the 4th quarter valued at approximately $44,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Price Performance

Shares of NYSE CVX opened at $149.70 on Thursday. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $170.17. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13. The firm has a 50-day moving average of $145.45 and a two-hundred day moving average of $154.02. The company has a market capitalization of $273.79 billion, a price-to-earnings ratio of 13.77, a PEG ratio of 2.72 and a beta of 1.09.

Chevron (NYSE:CVX) last released its 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 during 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%. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.08 earnings per share. As a group, analysts expect that Chevron Co. will post 11.09 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were given a dividend of $1.63 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.36%. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

Analysts Set New Price Targets

A number of brokerages recently commented on CVX. Barclays lowered their price objective on Chevron from $185.00 to $168.00 and set an “overweight” rating for the company in a research note on Thursday, October 3rd. Royal Bank of Canada restated an “outperform” rating and set a $170.00 price target on shares of Chevron in a research report on Tuesday. UBS Group lifted their price objective on shares of Chevron from $189.00 to $192.00 and gave the company a “buy” rating in a research report on Tuesday. Sanford C. Bernstein lowered shares of Chevron from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $183.00 to $167.00 in a research note on Wednesday, July 17th. Finally, Wells Fargo & Company dropped their price target on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a research note on Friday, September 27th. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $178.59.

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; 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.