Meridian Financial LLC Sells 599 Shares of Chevron Co. (NYSE:CVX)

Meridian Financial LLC decreased its stake in Chevron Co. (NYSE:CVX) by 24.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,860 shares of the oil and gas company’s stock after selling 599 shares during the period. Meridian Financial LLC’s holdings in Chevron were worth $269,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. Rational Advisors LLC purchased a new stake in shares of Chevron in the 3rd quarter valued at $29,000. Legacy Investment Solutions LLC bought a new position in shares of Chevron during the third quarter valued at about $29,000. Darwin Wealth Management LLC purchased a new position in shares of Chevron in the third quarter worth about $30,000. RPg Family Wealth Advisory LLC bought a new stake in shares of Chevron in the 3rd quarter valued at about $31,000. Finally, Cyrus J. Lawrence LLC boosted its holdings in Chevron by 66.7% during the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after acquiring an additional 100 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Price Performance

CVX opened at $161.54 on Monday. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11. The company has a market cap of $290.30 billion, a price-to-earnings ratio of 17.75, a price-to-earnings-growth ratio of 2.62 and a beta of 1.12. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The stock has a fifty day simple moving average of $153.93 and a two-hundred day simple moving average of $151.05.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. The company had revenue of $50.67 billion during the quarter, compared to analysts’ expectations of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.15%. Chevron’s revenue was down 6.3% on a year-over-year basis. During the same period last year, the company posted $3.05 EPS. Research analysts predict that Chevron Co. will post 10.39 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 18th were paid a $1.63 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $6.52 annualized dividend and a dividend yield of 4.04%. Chevron’s payout ratio is currently 71.65%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on CVX. Royal Bank of Canada boosted their price objective on Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. UBS Group upped their price target on shares of Chevron from $194.00 to $195.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. Wells Fargo & Company raised their price target on shares of Chevron from $171.00 to $188.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. Truist Financial upped their price objective on shares of Chevron from $160.00 to $164.00 and gave the company a “hold” rating in a research note on Monday, January 13th. Finally, DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price on the stock in a research note on Tuesday, November 5th. Four 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, Chevron has a consensus rating of “Moderate Buy” and an average target price of $175.27.

Insider Activity at Chevron

In other news, CEO Michael K. Wirth sold 164,600 shares of Chevron stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $160.13, for a total value of $26,357,398.00. Following the completion of the transaction, the chief executive officer now owns 4,280 shares of the company’s stock, valued at $685,356.40. The trade was a 97.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.20% of the stock is owned by corporate insiders.

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.