Meridian Wealth Partners LLC Sells 156 Shares of Chevron Co. (NYSE:CVX)

Meridian Wealth Partners LLC lessened its stake in shares of Chevron Co. (NYSE:CVX) by 7.4% in the fourth quarter, HoldingsChannel.com reports. The firm owned 1,950 shares of the oil and gas company’s stock after selling 156 shares during the quarter. Meridian Wealth Partners LLC’s holdings in Chevron were worth $291,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Chevron by 0.3% in the third quarter. Vanguard Group Inc. now owns 161,924,375 shares of the oil and gas company’s stock valued at $27,303,688,000 after acquiring an additional 458,080 shares in the last quarter. Morgan Stanley lifted its position in shares of Chevron by 7.0% in the 3rd quarter. Morgan Stanley now owns 34,166,899 shares of the oil and gas company’s stock worth $5,761,223,000 after purchasing an additional 2,244,995 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Chevron by 1.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 24,236,141 shares of the oil and gas company’s stock worth $4,059,834,000 after buying an additional 368,898 shares during the period. Northern Trust Corp boosted its position in Chevron by 2.6% during the 3rd quarter. Northern Trust Corp now owns 22,705,118 shares of the oil and gas company’s stock valued at $3,828,537,000 after acquiring an additional 569,850 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in shares of Chevron by 0.4% during the 3rd quarter. Ameriprise Financial Inc. now owns 14,814,522 shares of the oil and gas company’s stock worth $2,499,684,000 after acquiring an additional 62,254 shares during the period. 72.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have commented on CVX. UBS Group raised their price objective on Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a research report on Tuesday, April 9th. Truist Financial dropped their price objective on shares of Chevron from $168.00 to $156.00 and set a “hold” rating on the stock in a research note on Friday, April 5th. Royal Bank of Canada upped their price objective on shares of Chevron from $185.00 to $190.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. Raymond James lifted their target price on shares of Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a report on Monday, April 15th. Finally, Barclays assumed coverage on Chevron in a research report on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 price target on the stock. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Chevron has an average rating of “Moderate Buy” and a consensus price target of $184.75.

Insider Activity at Chevron

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total value of $448,252.00. Following the transaction, the vice president now directly owns 276 shares of the company’s stock, valued at $44,184.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.18% of the stock is owned by company insiders.

Chevron Stock Performance

NYSE:CVX traded up $0.61 during mid-day trading on Friday, reaching $165.89. The company’s stock had a trading volume of 9,736,350 shares, compared to its average volume of 7,082,480. The firm’s fifty day moving average price is $156.58 and its two-hundred day moving average price is $151.73. The company has a current ratio of 1.27, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. The stock has a market cap of $308.10 billion, a P/E ratio of 15.26, a PEG ratio of 2.44 and a beta of 1.12. Chevron Co. has a 12-month low of $139.62 and a 12-month high of $171.70.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, beating analysts’ consensus estimates of $2.84 by $0.09. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The company had revenue of $48.72 billion for the quarter, compared to the consensus estimate of $48.42 billion. During the same quarter in the prior year, the firm earned $3.55 earnings per share. The firm’s revenue for the quarter was down 4.1% compared to the same quarter last year. On average, equities analysts forecast that Chevron Co. will post 13.58 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 17th will be issued a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 3.93%. The ex-dividend date is Thursday, May 16th. Chevron’s 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.