Meridian Wealth Partners LLC Increases Stock Holdings in Chevron Co. (NYSE:CVX)

Meridian Wealth Partners LLC lifted its stake in Chevron Co. (NYSE:CVX) by 5.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 2,154 shares of the oil and gas company’s stock after buying an additional 103 shares during the period. Meridian Wealth Partners LLC’s holdings in Chevron were worth $312,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Paces Ferry Wealth Advisors LLC boosted its holdings in Chevron by 39.8% during the 4th quarter. Paces Ferry Wealth Advisors LLC now owns 2,399 shares of the oil and gas company’s stock valued at $347,000 after acquiring an additional 683 shares during the period. Stevens Capital Management LP purchased a new position in Chevron during the 4th quarter valued at $1,600,000. LPL Financial LLC boosted its holdings in Chevron by 6.0% during the 4th quarter. LPL Financial LLC now owns 3,338,108 shares of the oil and gas company’s stock valued at $483,491,000 after acquiring an additional 190,422 shares during the period. Richwood Investment Advisors LLC boosted its holdings in Chevron by 22.8% during the 4th quarter. Richwood Investment Advisors LLC now owns 2,827 shares of the oil and gas company’s stock valued at $410,000 after acquiring an additional 525 shares during the period. Finally, Blueprint Investment Partners LLC boosted its holdings in Chevron by 75.9% during the 4th quarter. Blueprint Investment Partners LLC now owns 4,779 shares of the oil and gas company’s stock valued at $692,000 after acquiring an additional 2,062 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Trading Down 0.2 %

CVX opened at $164.37 on Friday. The firm has a market cap of $289.39 billion, a price-to-earnings ratio of 16.91, a PEG ratio of 1.46 and a beta of 1.08. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $167.11. The stock has a fifty day moving average price of $156.29 and a 200-day moving average price of $152.57.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a net margin of 8.71% and a return on equity of 11.44%. During the same period in the previous year, the company posted $3.45 EPS. As a group, equities research analysts anticipate that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were paid a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 4.16%. The ex-dividend date of this dividend was Friday, February 14th. This is an increase from Chevron’s previous quarterly dividend of $1.63. Chevron’s payout ratio is presently 70.37%.

Analysts Set New Price Targets

A number of research firms recently issued reports on CVX. Raymond James dropped their price objective on Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a report on Monday, February 3rd. Truist Financial dropped their price objective on Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a report on Tuesday, February 4th. Wells Fargo & Company decreased their target price on Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Piper Sandler decreased their target price on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Finally, Citigroup raised Chevron from a “neutral” rating to a “buy” rating and lifted their target price for the company from $145.00 to $185.00 in a research report on Tuesday, November 26th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Chevron currently has an average rating of “Moderate Buy” and a consensus target price of $174.13.

Insider Buying and Selling at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the business’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the sale, the vice president now owns 1,057 shares in the company, valued at approximately $161,192.50. The trade was a 89.82 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.20% of the company’s stock.

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.