Meridian Wealth Advisors LLC Boosts Stake in Chevron Co. (NYSE:CVX)

Meridian Wealth Advisors LLC lifted its holdings in shares of Chevron Co. (NYSE:CVX) by 14.5% during the fourth quarter, Holdings Channel reports. The fund owned 7,626 shares of the oil and gas company’s stock after purchasing an additional 967 shares during the quarter. Meridian Wealth Advisors LLC’s holdings in Chevron were worth $1,137,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Windsor Advisory Group LLC lifted its holdings in Chevron by 24.0% during the 3rd quarter. Windsor Advisory Group LLC now owns 3,720 shares of the oil and gas company’s stock worth $627,000 after buying an additional 720 shares during the last quarter. Renaissance Investment Group LLC boosted its holdings in Chevron by 12.7% in the fourth quarter. Renaissance Investment Group LLC now owns 6,187 shares of the oil and gas company’s stock worth $923,000 after purchasing an additional 697 shares during the period. Altrius Capital Management Inc raised its holdings in shares of Chevron by 2.1% during the third quarter. Altrius Capital Management Inc now owns 21,333 shares of the oil and gas company’s stock worth $3,597,000 after purchasing an additional 434 shares during the period. Camelot Portfolios LLC acquired a new stake in shares of Chevron during the fourth quarter worth $254,000. Finally, Kapstone Financial Advisors LLC lifted its position in shares of Chevron by 5.3% in the 4th quarter. Kapstone Financial Advisors LLC now owns 4,216 shares of the oil and gas company’s stock worth $626,000 after buying an additional 211 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on CVX. Mizuho raised their price target on shares of Chevron from $195.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. Truist Financial cut their price objective on shares of Chevron from $168.00 to $156.00 and set a “hold” rating on the stock in a research note on Friday, April 5th. Wells Fargo & Company raised their target price on shares of Chevron from $198.00 to $206.00 and gave the company an “overweight” rating in a research note on Tuesday, April 30th. The Goldman Sachs Group reissued a “buy” rating on shares of Chevron in a research note on Monday, April 1st. Finally, Scotiabank raised Chevron from a “sector perform” rating to a “sector outperform” rating and raised their target price for the company from $170.00 to $195.00 in a research note on Thursday, April 11th. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, Chevron currently has an average rating of “Moderate Buy” and a consensus price target of $185.35.

Insider Buying and Selling at Chevron

In other news, VP Alana K. Knowles sold 2,800 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total transaction of $448,252.00. Following the sale, the vice president now owns 276 shares of the company’s stock, valued at $44,184.84. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Enrique Hernandez, Jr. sold 2,549 shares of the stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $161.00, for a total transaction of $410,389.00. Following the completion of the transaction, the director now directly owns 7,647 shares in the company, valued at approximately $1,231,167. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total value of $448,252.00. Following the completion of the sale, the vice president now directly owns 276 shares in the company, valued at approximately $44,184.84. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 13,247 shares of company stock valued at $2,154,164. Corporate insiders own 0.20% of the company’s stock.

Chevron Trading Up 0.4 %

CVX opened at $163.19 on Thursday. Chevron Co. has a 1-year low of $139.62 and a 1-year high of $171.70. The stock has a market capitalization of $301.41 billion, a PE ratio of 15.05, a PEG ratio of 2.37 and a beta of 1.11. The company has a current ratio of 1.23, a quick ratio of 0.93 and a debt-to-equity ratio of 0.13. The firm has a 50-day moving average price of $157.62 and a two-hundred day moving average price of $151.45.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.84 by $0.09. The business had revenue of $48.72 billion for the quarter, compared to analysts’ expectations of $48.42 billion. Chevron had a return on equity of 14.40% and a net margin of 10.21%. The firm’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same quarter last year, the business earned $3.55 earnings per share. As a group, equities analysts anticipate that Chevron Co. will post 13.53 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 17th will be issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 4.00%. The ex-dividend date is Thursday, May 16th. Chevron’s dividend payout ratio is currently 59.98%.

Chevron 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.