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% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund 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 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of CVX. International Assets Investment Management LLC boosted its stake in shares of Chevron by 15,548.2% during the fourth quarter. International Assets Investment Management LLC now owns 3,202,411 shares of the oil and gas company’s stock valued at $4,776,720,000 after purchasing an additional 3,181,946 shares in the last quarter. Morgan Stanley grew its holdings in Chevron by 7.0% during 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 acquiring an additional 2,244,995 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC bought a new stake in Chevron during the 3rd quarter worth approximately $348,789,000. Envestnet Asset Management Inc. increased its position in Chevron by 36.4% in the 3rd quarter. Envestnet Asset Management Inc. now owns 4,614,498 shares of the oil and gas company’s stock valued at $778,097,000 after acquiring an additional 1,230,619 shares during the period. Finally, California Public Employees Retirement System raised its stake in shares of Chevron by 28.3% during the third quarter. California Public Employees Retirement System now owns 4,179,942 shares of the oil and gas company’s stock valued at $704,822,000 after acquiring an additional 923,119 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently weighed in on CVX. Jefferies Financial Group upgraded Chevron from a “hold” rating to a “buy” rating and set a $184.00 price objective for the company in a report on Monday, January 8th. The Goldman Sachs Group restated a “buy” rating on shares of Chevron in a research report on Monday, April 1st. Barclays started coverage on Chevron in a research note on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 price objective on the stock. Raymond James increased their target price on shares of Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a research report on Monday, April 15th. Finally, TD Cowen downgraded shares of Chevron from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $170.00 to $150.00 in a research report on Tuesday, January 23rd. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Chevron has a consensus rating of “Moderate Buy” and an average price target of $184.75.

Chevron Stock Up 0.4 %

NYSE:CVX traded up $0.61 on Friday, hitting $165.89. The stock had a trading volume of 9,736,350 shares, compared to its average volume of 7,082,480. The company has a market cap of $308.10 billion, a PE ratio of 15.26, a P/E/G ratio of 2.44 and a beta of 1.12. Chevron Co. has a 52 week low of $139.62 and a 52 week high of $171.70. The business’s fifty day moving average is $156.58 and its 200 day moving average is $151.73. The company has a quick ratio of 1.01, a current ratio of 1.27 and a debt-to-equity ratio of 0.13.

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

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 17th will be given a dividend of $1.63 per share. 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 presently 59.98%.

Insider Buying and Selling

In other news, VP Alana K. Knowles sold 2,800 shares of the firm’s stock in a transaction that occurred on 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 owns 276 shares in the company, valued at $44,184.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.18% of the stock is currently owned by company insiders.

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.