Meiji Yasuda Asset Management Co Ltd. Trims Position in Chevron Co. (NYSE:CVX)

Meiji Yasuda Asset Management Co Ltd. decreased its position in shares of Chevron Co. (NYSE:CVX) by 1.9% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 139,131 shares of the oil and gas company’s stock after selling 2,690 shares during the quarter. Chevron makes up 0.9% of Meiji Yasuda Asset Management Co Ltd.’s holdings, making the stock its 18th largest holding. Meiji Yasuda Asset Management Co Ltd.’s holdings in Chevron were worth $21,763,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of CVX. Eagle Capital Management LLC boosted its stake in shares of 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 worth $5,435,000 after acquiring an additional 163 shares during the period. Lane & Associates LLC purchased a new position in Chevron in the 1st quarter worth approximately $345,000. Seven Mile Advisory boosted its stake in Chevron by 9.8% in the 4th quarter. Seven Mile Advisory now owns 2,766 shares of the oil and gas company’s stock worth $413,000 after purchasing an additional 247 shares during the period. KCM Investment Advisors LLC grew its holdings in Chevron by 2.5% during the 1st quarter. KCM Investment Advisors LLC now owns 331,550 shares of the oil and gas company’s stock valued at $52,299,000 after buying an additional 8,168 shares in the last quarter. Finally, Livelsberger Financial Advisory bought a new stake in shares of Chevron during the fourth quarter valued at approximately $46,000. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Up 1.0 %

Shares of NYSE:CVX opened at $143.46 on Wednesday. The business has a 50 day simple moving average of $148.69 and a two-hundred day simple moving average of $154.61. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $171.70. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85. The firm has a market capitalization of $262.38 billion, a PE ratio of 13.20, a price-to-earnings-growth ratio of 2.41 and a beta of 1.09.

Chevron (NYSE:CVX) last released its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($0.38). The business had revenue of $51.18 billion for the quarter, compared to the consensus estimate of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter last year, the business posted $3.08 earnings per share. On average, equities analysts predict that Chevron Co. will post 11.57 EPS for the current year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were paid a $1.63 dividend. The ex-dividend date was Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a yield of 4.54%. Chevron’s dividend payout ratio is currently 59.98%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on CVX shares. Scotiabank dropped their target price on shares of Chevron from $195.00 to $180.00 and set a “sector outperform” rating for the company in a research report on Friday, July 12th. Barclays dropped their price objective on shares of Chevron from $203.00 to $185.00 and set an “overweight” rating for the company in a report on Tuesday, August 6th. Truist Financial cut their price objective on Chevron from $156.00 to $154.00 and set a “hold” rating for the company in a research report on Monday, August 5th. Sanford C. Bernstein downgraded Chevron from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $183.00 to $167.00 in a research report on Wednesday, July 17th. Finally, Mizuho cut their price target on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a report on Monday. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $182.88.

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.