Mackay Shields LLC Has $32.03 Million Stake in Chevron Co. (NYSE:CVX)

Mackay Shields LLC lessened its holdings in shares of Chevron Co. (NYSE:CVX) by 21.8% during the 2nd quarter, Holdings Channel.com reports. The fund owned 305,772 shares of the oil and gas company’s stock after selling 85,150 shares during the period. Mackay Shields LLC’s holdings in Chevron were worth $32,027,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of CVX. Stonehage Fleming Financial Services Holdings Ltd bought a new stake in Chevron in the second quarter worth $30,000. Bradley & Co. Private Wealth Management LLC acquired a new position in shares of Chevron during the 1st quarter valued at about $31,000. Horan Securities Inc. lifted its holdings in Chevron by 196.0% in the 2nd quarter. Horan Securities Inc. now owns 296 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 196 shares during the last quarter. Newton One Investments LLC acquired a new position in Chevron during the second quarter valued at approximately $34,000. Finally, Capital Directions Investment Advisors LLC raised its position in shares of Chevron by 66.7% in the second quarter. Capital Directions Investment Advisors LLC now owns 375 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 150 shares during the period. Hedge funds and other institutional investors own 65.78% of the company’s stock.

CVX traded up $0.93 during trading on Thursday, reaching $108.72. 327,584 shares of the stock were exchanged, compared to its average volume of 10,551,904. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.95 and a current ratio of 1.17. The stock’s 50 day moving average price is $99.98 and its two-hundred day moving average price is $102.94. The stock has a market cap of $210.25 billion, a P/E ratio of 58.27, a price-to-earnings-growth ratio of 2.85 and a beta of 1.32. Chevron Co. has a twelve month low of $65.16 and a twelve month high of $113.11.

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

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 10th. Stockholders of record on Thursday, August 19th were given a dividend of $1.34 per share. The ex-dividend date was Wednesday, August 18th. This represents a $5.36 dividend on an annualized basis and a dividend yield of 4.93%. Chevron’s dividend payout ratio (DPR) is -2,680.00%.

CVX has been the topic of several research analyst reports. JPMorgan Chase & Co. downgraded Chevron from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $128.00 to $111.00 in a research report on Wednesday, September 15th. Mizuho lifted their price target on Chevron from $127.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, July 7th. Morgan Stanley increased their price objective on Chevron from $127.00 to $149.00 and gave the company an “overweight” rating in a research report on Friday, June 18th. Redburn Partners raised shares of Chevron from a “neutral” rating to a “buy” rating in a research report on Thursday, July 22nd. Finally, TheStreet upgraded shares of Chevron from a “c” rating to a “b-” rating in a research report on Friday, July 30th. Eleven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Chevron presently has an average rating of “Buy” and an average target price of $119.00.

About Chevron

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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