Meixler Investment Management Ltd. Trims Holdings in Chevron Co. (NYSE:CVX)

Meixler Investment Management Ltd. decreased its holdings in Chevron Co. (NYSE:CVX) by 20.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,690 shares of the oil and gas company’s stock after selling 436 shares during the quarter. Meixler Investment Management Ltd.’s holdings in Chevron were worth $245,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Marshall Financial Group LLC purchased a new position in Chevron during the 3rd quarter worth $202,000. AlphaMark Advisors LLC raised its position in Chevron by 19.6% during the 3rd quarter. AlphaMark Advisors LLC now owns 1,233 shares of the oil and gas company’s stock worth $182,000 after buying an additional 202 shares during the last quarter. Stratos Wealth Partners LTD. raised its position in Chevron by 0.4% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 70,768 shares of the oil and gas company’s stock worth $10,422,000 after buying an additional 261 shares during the last quarter. Stratos Investment Management LLC grew its stake in shares of Chevron by 15.4% during the 3rd quarter. Stratos Investment Management LLC now owns 33,337 shares of the oil and gas company’s stock worth $4,910,000 after purchasing an additional 4,443 shares during the period. Finally, Precedent Wealth Partners LLC grew its stake in shares of Chevron by 9.5% during the 3rd quarter. Precedent Wealth Partners LLC now owns 10,872 shares of the oil and gas company’s stock worth $1,601,000 after purchasing an additional 945 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Trading Down 0.4 %

NYSE CVX opened at $155.32 on Friday. Chevron Co. has a one year low of $135.37 and a one year high of $167.11. The company’s 50 day moving average price is $151.86 and its 200 day moving average price is $150.86. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The firm has a market capitalization of $279.12 billion, a price-to-earnings ratio of 15.98, a PEG ratio of 1.39 and a beta of 1.11.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 EPS 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 quarter in the previous year, the business posted $3.45 earnings per share. On average, sell-side analysts predict that Chevron Co. will post 10.84 EPS for the current year.

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be given a $1.71 dividend. This is an increase from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.84 annualized dividend and a yield of 4.40%. Chevron’s dividend payout ratio (DPR) is 67.08%.

Insider Buying and Selling at Chevron

In other news, VP Jeff B. Gustavson sold 9,325 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the completion of the sale, the vice president now owns 1,057 shares of the company’s stock, valued at approximately $161,192.50. This trade represents a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.20% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Piper Sandler lowered their price target on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. DZ Bank raised shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target on the stock in a research note on Tuesday, November 5th. Truist Financial lowered their price target on shares of Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a research note on Tuesday, February 4th. Raymond James lowered their price objective on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a research note on Monday, February 3rd. Finally, Wells Fargo & Company lowered their price objective on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $174.13.

About Chevron

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.