Meadow Creek Wealth Advisors LLC Raises Holdings in Chevron Co. (NYSE:CVX)

Meadow Creek Wealth Advisors LLC boosted its stake in shares of Chevron Co. (NYSE:CVX) by 8.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,208 shares of the oil and gas company’s stock after acquiring an additional 415 shares during the quarter. Meadow Creek Wealth Advisors LLC’s holdings in Chevron were worth $815,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. James J. Burns & Company LLC grew its holdings in Chevron by 5.0% in the second quarter. James J. Burns & Company LLC now owns 1,997 shares of the oil and gas company’s stock valued at $312,000 after purchasing an additional 95 shares during the period. Phoenix Wealth Advisors raised its holdings in shares of Chevron by 156.7% during the second quarter. Phoenix Wealth Advisors now owns 4,243 shares of the oil and gas company’s stock valued at $664,000 after acquiring an additional 2,590 shares during the last quarter. Valued Wealth Advisors LLC lifted its position in shares of Chevron by 93.5% in the second quarter. Valued Wealth Advisors LLC now owns 840 shares of the oil and gas company’s stock valued at $131,000 after acquiring an additional 406 shares in the last quarter. West Paces Advisors Inc. boosted its stake in shares of Chevron by 1.8% in the second quarter. West Paces Advisors Inc. now owns 11,421 shares of the oil and gas company’s stock worth $1,786,000 after acquiring an additional 205 shares during the last quarter. Finally, Baader Bank Aktiengesellschaft acquired a new stake in shares of Chevron in the second quarter worth approximately $265,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Insider Activity

In related news, VP Jeff B. Gustavson sold 3,750 shares of the stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $160.23, for a total transaction of $600,862.50. Following the transaction, the vice president now owns 477 shares of the company’s stock, valued at approximately $76,429.71. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Wells Fargo & Company raised their price objective on Chevron from $198.00 to $206.00 and gave the company an “overweight” rating in a report on Tuesday, April 30th. Mizuho raised their price target on shares of Chevron from $200.00 to $205.00 and gave the stock a “buy” rating in a research note on Monday, May 13th. TD Cowen upped their price objective on shares of Chevron from $155.00 to $160.00 and gave the company a “hold” rating in a research note on Monday, April 29th. Barclays decreased their target price on shares of Chevron from $203.00 to $185.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 6th. Finally, Truist Financial dropped their price target on Chevron from $156.00 to $154.00 and set a “hold” rating for the company in a research report on Monday, August 5th. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $183.82.

Chevron Trading Up 1.5 %

NYSE CVX traded up $2.15 during trading hours on Thursday, reaching $146.82. The company had a trading volume of 6,302,006 shares, compared to its average volume of 7,889,076. 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 capitalization of $270.58 billion, a P/E ratio of 13.46, a price-to-earnings-growth ratio of 2.42 and a beta of 1.10. The stock has a 50-day moving average of $154.18 and a 200 day moving average of $156.00. Chevron Co. has a 1-year low of $139.62 and a 1-year high of $171.70.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing the consensus estimate of $2.93 by ($0.38). Chevron had a return on equity of 13.70% and a net margin of 9.31%. The company had revenue of $51.18 billion during the quarter, compared to analyst estimates of $48.68 billion. During the same quarter in the prior year, the company posted $3.08 earnings per share. The business’s revenue was up 4.7% compared to the same quarter last year. As a group, research analysts anticipate that Chevron Co. will post 11.96 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th will be given a dividend of $1.63 per share. The ex-dividend date is Monday, August 19th. This represents a $6.52 annualized dividend and a dividend yield of 4.44%. 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.