Chevron Co. (NYSE:CVX) Shares Sold by Mercer Global Advisors Inc. ADV

Mercer Global Advisors Inc. ADV lowered its holdings in shares of Chevron Co. (NYSE:CVX) by 2.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 153,992 shares of the oil and gas company’s stock after selling 3,450 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in Chevron were worth $16,129,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of CVX. Principal Financial Group Inc. raised its position in Chevron by 6.7% during the 2nd quarter. Principal Financial Group Inc. now owns 4,826,947 shares of the oil and gas company’s stock worth $505,574,000 after buying an additional 303,384 shares during the last quarter. Cibc World Markets Corp increased its holdings in shares of Chevron by 6.5% in the 2nd quarter. Cibc World Markets Corp now owns 758,422 shares of the oil and gas company’s stock valued at $79,437,000 after purchasing an additional 46,494 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in shares of Chevron by 0.7% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 430,944 shares of the oil and gas company’s stock valued at $45,137,000 after purchasing an additional 3,102 shares in the last quarter. MCF Advisors LLC increased its holdings in shares of Chevron by 29.4% in the 2nd quarter. MCF Advisors LLC now owns 7,044 shares of the oil and gas company’s stock valued at $738,000 after purchasing an additional 1,600 shares in the last quarter. Finally, Pinnacle Wealth Management Advisory Group LLC increased its holdings in Chevron by 20.6% during the 2nd quarter. Pinnacle Wealth Management Advisory Group LLC now owns 9,213 shares of the oil and gas company’s stock valued at $965,000 after acquiring an additional 1,575 shares in the last quarter. Hedge funds and other institutional investors own 65.78% of the company’s stock.

Several research firms have weighed in on CVX. JPMorgan Chase & Co. downgraded shares of Chevron from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $128.00 to $111.00 in a report on Wednesday. DZ Bank cut shares of Chevron from a “buy” rating to a “hold” rating and set a $110.00 price target on the stock. in a research note on Wednesday, August 4th. Redburn Partners raised shares of Chevron from a “neutral” rating to a “buy” rating in a research note on Thursday, July 22nd. Zacks Investment Research raised shares of Chevron from a “hold” rating to a “strong-buy” rating and set a $118.00 price target on the stock in a research note on Wednesday, August 4th. Finally, HSBC cut shares of Chevron from a “buy” rating to a “hold” rating and decreased their price target for the stock from $127.00 to $112.00 in a research note on Thursday, July 22nd. Eleven equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $118.29.

CVX opened at $96.60 on Wednesday. The company has a quick ratio of 0.95, a current ratio of 1.17 and a debt-to-equity ratio of 0.30. The firm’s 50 day moving average is $99.47 and its 200-day moving average is $103.55. The firm has a market capitalization of $186.82 billion, a P/E ratio of 51.44, a P/E/G ratio of 2.85 and a beta of 1.32. Chevron Co. has a 52-week low of $65.16 and a 52-week high of $113.11.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Thursday, July 29th. The oil and gas company reported $1.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.59 by $0.12. The business had revenue of $37.60 billion during the quarter, compared to analyst estimates of $35.98 billion. Chevron had a net margin of 3.01% and a return on equity of 3.89%. The business’s revenue was up 169.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($1.59) earnings per share. Equities analysts expect that Chevron Co. will post 6.74 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, September 10th. Investors of record on Thursday, August 19th were paid a $1.34 dividend. The ex-dividend date of this dividend was Wednesday, August 18th. This represents a $5.36 dividend on an annualized basis and a dividend yield of 5.55%. Chevron’s dividend payout ratio (DPR) is presently -2,680.00%.

Chevron Profile

Chevron Corp. engages in the provision of administrative, financial management, and technology support for energy and chemical operations. It operates through the Upstream and Downstream segments. The Upstream segment consists of exploration, development, and production of crude oil and natural gas; liquefaction, transportation, and regasification associated with liquefied natural gas; transporting crude oil by major international oil export pipelines; processing, transporting, storage, and marketing of natural gas; and a gas-to-liquids plant.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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