Chevron Co. (NYSE:CVX) Stake Increased by Meridian Financial Partners LLC

Meridian Financial Partners LLC increased its holdings in shares of Chevron Co. (NYSE:CVX) by 1.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,349 shares of the oil and gas company’s stock after buying an additional 182 shares during the quarter. Chevron accounts for approximately 1.0% of Meridian Financial Partners LLC’s holdings, making the stock its 23rd biggest position. Meridian Financial Partners LLC’s holdings in Chevron were worth $1,966,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Eagle Capital Management LLC lifted its stake in Chevron by 0.5% in the first quarter. Eagle Capital Management LLC now owns 34,455 shares of the oil and gas company’s stock valued at $5,435,000 after acquiring an additional 163 shares during the last quarter. Lane & Associates LLC bought a new stake in Chevron in the first quarter worth $345,000. KCM Investment Advisors LLC increased its position in Chevron by 2.5% during the first quarter. KCM Investment Advisors LLC now owns 331,550 shares of the oil and gas company’s stock worth $52,299,000 after buying an additional 8,168 shares during the last quarter. Hosking Partners LLP bought a new position in Chevron during the first quarter valued at about $4,924,000. Finally, Garner Asset Management Corp lifted its position in shares of Chevron by 14.5% in the second quarter. Garner Asset Management Corp now owns 19,997 shares of the oil and gas company’s stock worth $3,128,000 after buying an additional 2,530 shares during the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. UBS Group upped their target price on Chevron from $189.00 to $192.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Barclays dropped their target price on shares of Chevron from $185.00 to $168.00 and set an “overweight” rating on the stock in a report on Thursday, October 3rd. Sanford C. Bernstein cut shares of Chevron from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $183.00 to $167.00 in a report on Wednesday, July 17th. Royal Bank of Canada reiterated an “outperform” rating and issued a $170.00 price objective on shares of Chevron in a research note on Tuesday, October 8th. Finally, Mizuho lowered their target price on Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a report on Monday, September 16th. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $173.07.

Chevron Trading Down 0.3 %

Shares of CVX opened at $150.74 on Friday. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13. The stock has a market cap of $277.81 billion, a PE ratio of 13.87, a PEG ratio of 2.74 and a beta of 1.09. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $170.17. The stock has a 50 day simple moving average of $146.07 and a 200-day simple moving average of $153.71.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). Chevron had a net margin of 9.31% and a return on equity of 13.70%. The company had revenue of $51.18 billion for the quarter, compared to the consensus estimate of $48.68 billion. During the same period in the previous year, the business posted $3.08 earnings per share. The firm’s revenue was up 4.7% compared to the same quarter last year. On average, sell-side analysts predict that Chevron Co. will post 11.06 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.33%. The ex-dividend date was Monday, August 19th. Chevron’s dividend payout ratio (DPR) is currently 59.98%.

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.