MeadowBrook Investment Advisors LLC Grows Position in Chevron Co. (NYSE:CVX)

MeadowBrook Investment Advisors LLC raised its stake in Chevron Co. (NYSE:CVX) by 399.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,207 shares of the oil and gas company’s stock after purchasing an additional 1,765 shares during the period. MeadowBrook Investment Advisors LLC’s holdings in Chevron were worth $345,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Kapstone Financial Advisors LLC increased its stake in Chevron by 5.3% in the fourth quarter. Kapstone Financial Advisors LLC now owns 4,216 shares of the oil and gas company’s stock valued at $626,000 after purchasing an additional 211 shares during the last quarter. Eagle Capital Management LLC boosted its holdings 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 valued at $5,435,000 after acquiring an additional 163 shares during the period. Lane & Associates LLC acquired a new stake in shares of Chevron in the first quarter valued at approximately $345,000. Guyasuta Investment Advisors Inc. boosted its holdings in shares of Chevron by 1.7% in the fourth quarter. Guyasuta Investment Advisors Inc. now owns 216,593 shares of the oil and gas company’s stock valued at $32,307,000 after acquiring an additional 3,603 shares during the period. Finally, Seven Mile Advisory boosted its holdings in shares of Chevron by 9.8% in the fourth quarter. Seven Mile Advisory now owns 2,766 shares of the oil and gas company’s stock valued at $413,000 after acquiring an additional 247 shares during the period. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Price Performance

Chevron stock traded up $0.56 during midday trading on Thursday, reaching $145.88. 1,901,372 shares of the company were exchanged, compared to its average volume of 7,819,837. The company has a market capitalization of $266.80 billion, a price-to-earnings ratio of 13.42, a P/E/G ratio of 2.46 and a beta of 1.10. The firm’s 50-day simple moving average is $153.21 and its 200-day simple moving average is $155.89. Chevron Co. has a 1 year low of $139.62 and a 1 year high of $171.70. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16.

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

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 19th will be given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 4.47%. The ex-dividend date is Monday, August 19th. Chevron’s dividend payout ratio is presently 59.98%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on CVX shares. Mizuho increased their price objective on Chevron from $200.00 to $205.00 and gave the company a “buy” rating in a report on Monday, May 13th. Wells Fargo & Company increased 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. Truist Financial decreased their price objective on Chevron from $156.00 to $154.00 and set a “hold” rating for the company in a report on Monday, August 5th. Royal Bank of Canada decreased their price target on Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a report on Monday, August 5th. Finally, HSBC increased their price target on Chevron from $175.00 to $178.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $183.82.

About Chevron

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.