Meridian Wealth Partners LLC Buys 197 Shares of Chevron Co. (NYSE:CVX)

Meridian Wealth Partners LLC increased its stake in shares of Chevron Co. (NYSE:CVX) by 8.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,450 shares of the oil and gas company’s stock after buying an additional 197 shares during the quarter. Meridian Wealth Partners LLC’s holdings in Chevron were worth $383,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of CVX. Eagle Capital Management LLC boosted 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 worth $5,435,000 after purchasing an additional 163 shares in the last quarter. Lane & Associates LLC acquired a new position in Chevron in the first quarter worth $345,000. Seven Mile Advisory boosted its stake in Chevron by 9.8% in the fourth 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 in the last quarter. KCM Investment Advisors LLC raised its position in shares of 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 acquiring an additional 8,168 shares during the last quarter. Finally, Livelsberger Financial Advisory bought a new stake in shares of Chevron during the fourth quarter worth $46,000. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Up 1.0 %

CVX stock opened at $143.46 on Wednesday. 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 stock has a market capitalization of $262.38 billion, a P/E ratio of 13.20, a P/E/G ratio of 2.41 and a beta of 1.09. The business has a 50-day moving average of $148.69 and a 200-day moving average of $154.61. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $171.70.

Chevron (NYSE:CVX) last posted its quarterly earnings data 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 firm had revenue of $51.18 billion for the quarter, compared to analyst estimates of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the company earned $3.08 earnings per share. On average, sell-side analysts anticipate that Chevron Co. will post 11.57 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were given a dividend of $1.63 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $6.52 annualized dividend and a yield of 4.54%. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on CVX shares. Truist Financial dropped their target price on Chevron from $156.00 to $154.00 and set a “hold” rating for the company in a research report on Monday, August 5th. Mizuho dropped their price objective on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a report on Monday. Wolfe Research began coverage on Chevron in a report on Thursday, July 18th. They issued a “peer perform” rating for the company. Royal Bank of Canada dropped their price objective on Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a report on Monday, August 5th. Finally, Sanford C. Bernstein downgraded Chevron from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $183.00 to $167.00 in a report on Wednesday, July 17th. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target 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.