Meridian Wealth Management LLC Buys 442 Shares of Chevron Corporation (CVX)
Meridian Wealth Management LLC boosted its stake in shares of Chevron Corporation (NYSE:CVX) by 3.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,636 shares of the oil and gas company’s stock after buying an additional 442 shares during the quarter. Chevron Corporation makes up approximately 0.8% of Meridian Wealth Management LLC’s portfolio, making the stock its 21st biggest position. Meridian Wealth Management LLC’s holdings in Chevron Corporation were worth $1,318,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CVX. Thompson Davis & CO. Inc. boosted its stake in shares of Chevron Corporation by 20.0% in the 1st quarter. Thompson Davis & CO. Inc. now owns 1,146 shares of the oil and gas company’s stock valued at $123,000 after purchasing an additional 191 shares during the last quarter. Americafirst Capital Management LLC bought a new stake in Chevron Corporation in the first quarter valued at $140,000. Daiwa SB Investments Ltd. increased its stake in Chevron Corporation by 438.5% in the second quarter. Daiwa SB Investments Ltd. now owns 1,400 shares of the oil and gas company’s stock valued at $146,000 after purchasing an additional 1,140 shares in the last quarter. New Capital Management LP increased its stake in Chevron Corporation by 0.3% in the first quarter. New Capital Management LP now owns 1,455 shares of the oil and gas company’s stock valued at $156,000 after purchasing an additional 4 shares in the last quarter. Finally, Marshall & Sullivan Inc. WA increased its stake in Chevron Corporation by 8.8% in the first quarter. Marshall & Sullivan Inc. WA now owns 1,985 shares of the oil and gas company’s stock valued at $213,000 after purchasing an additional 160 shares in the last quarter. Hedge funds and other institutional investors own 62.74% of the company’s stock.
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Several research firms have weighed in on CVX. Vetr upgraded shares of Chevron Corporation to a “strong-buy” rating and set a $117.49 price objective on the stock in a report on Thursday, June 8th. BidaskClub upgraded Chevron Corporation from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 13th. Macquarie downgraded Chevron Corporation from an “outperform” rating to a “neutral” rating and set a $105.00 price objective for the company. in a research note on Wednesday, June 21st. BMO Capital Markets set a $130.00 price target on shares of Chevron Corporation and gave the company a “buy” rating in a research report on Thursday, June 22nd. Finally, Jefferies Group LLC set a $135.00 target price on shares of Chevron Corporation and gave the company a “buy” rating in a research report on Saturday, June 24th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $116.68.
Chevron Corporation (NYSE:CVX) traded down 0.301% during mid-day trading on Wednesday, hitting $117.465. 1,921,582 shares of the stock were exchanged. The firm has a market cap of $222.60 billion, a P/E ratio of 38.089 and a beta of 1.24. Chevron Corporation has a 12-month low of $99.61 and a 12-month high of $119.00. The company has a 50 day moving average of $111.97 and a 200 day moving average of $107.70. Chevron Corporation also was the target of some unusual options trading activity on Monday. Investors acquired 9,406 call options on the company. This represents an increase of 100% compared to the average volume of 4,703 call options.
Chevron Corporation (NYSE:CVX) last posted its earnings results on Friday, July 28th. The oil and gas company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.02. Chevron Corporation had a return on equity of 4.13% and a net margin of 4.50%. The firm had revenue of $34.48 billion during the quarter, compared to analysts’ expectations of $32.77 billion. During the same quarter in the previous year, the business earned ($0.78) earnings per share. The firm’s revenue was up 17.8% compared to the same quarter last year. On average, equities analysts anticipate that Chevron Corporation will post $3.93 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 11th. Shareholders of record on Friday, August 18th were given a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a yield of 3.67%. The ex-dividend date was Wednesday, August 16th. Chevron Corporation’s payout ratio is currently 140.26%.
In related news, CFO Patricia E. Yarrington sold 39,000 shares of the stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $111.00, for a total transaction of $4,329,000.00. Following the completion of the transaction, the chief financial officer now directly owns 43,838 shares of the company’s stock, valued at $4,866,018. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider James William Johnson sold 31,000 shares of the stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $110.68, for a total transaction of $3,431,080.00. Following the transaction, the insider now directly owns 11,000 shares of the company’s stock, valued at $1,217,480. The disclosure for this sale can be found here. Insiders have sold a total of 72,312 shares of company stock worth $8,008,343 over the last three months. 0.38% of the stock is currently owned by insiders.
About Chevron Corporation
Chevron Corporation (Chevron) manages its investments in subsidiaries and affiliates, and provides administrative, financial, management and technology support to the United States and international subsidiaries that engage in integrated energy and chemicals operations. The Company operates through two business segments: Upstream and Downstream.
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