MeadowBrook Investment Advisors LLC Boosts Holdings in Chevron Co. (NYSE:CVX)

MeadowBrook Investment Advisors LLC raised its stake in shares of Chevron Co. (NYSE:CVX) by 62.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,575 shares of the oil and gas company’s stock after purchasing an additional 1,368 shares during the period. MeadowBrook Investment Advisors LLC’s holdings in Chevron were worth $526,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Rational Advisors LLC purchased a new position in Chevron during the third quarter valued at $29,000. Anfield Capital Management LLC raised its position in shares of Chevron by 118.0% in the second quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock valued at $34,000 after buying an additional 118 shares during the last quarter. Cyrus J. Lawrence LLC raised its position in shares of Chevron by 66.7% in the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after buying an additional 100 shares during the last quarter. Krane Funds Advisors LLC acquired a new stake in shares of Chevron in the third quarter valued at about $47,000. Finally, Livelsberger Financial Advisory acquired a new stake in shares of Chevron in the third quarter valued at about $47,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Trading Up 1.0 %

Shares of CVX traded up $1.61 during trading on Thursday, reaching $160.33. 2,339,549 shares of the company traded hands, compared to its average volume of 7,634,325. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11. The stock has a market cap of $288.13 billion, a PE ratio of 17.44, a price-to-earnings-growth ratio of 3.49 and a beta of 1.09. The stock has a 50-day simple moving average of $148.51 and a 200-day simple moving average of $152.65. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, beating the consensus estimate of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The business had revenue of $50.67 billion during the quarter, compared to analyst estimates of $48.86 billion. During the same quarter last year, the firm posted $3.05 earnings per share. The business’s revenue for the quarter was down 6.3% compared to the same quarter last year. On average, analysts anticipate that Chevron Co. will post 10.55 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 18th will be paid a $1.63 dividend. The ex-dividend date is Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a yield of 4.07%. Chevron’s dividend payout ratio is currently 71.65%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CVX. UBS Group increased their target price on shares of Chevron from $192.00 to $194.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Mizuho reduced their target price on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research report on Monday, September 16th. Bank of America began coverage on shares of Chevron in a research report on Thursday, October 17th. They issued a “buy” rating and a $168.00 target price for the company. Truist Financial increased their target price on shares of Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a research report on Monday, November 4th. Finally, Scotiabank cut their price objective on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $174.93.

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.