Meritas Wealth Management LLC Makes New Investment in Chevron Co. (NYSE:CVX)

Meritas Wealth Management LLC bought a new position in Chevron Co. (NYSE:CVX) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 1,333 shares of the oil and gas company’s stock, valued at approximately $223,000.

Other large investors have also recently added to or reduced their stakes in the company. Life Planning Partners Inc acquired a new stake in shares of Chevron in the fourth quarter valued at $25,000. IMG Wealth Management Inc. bought a new position in shares of Chevron during the 4th quarter valued at about $25,000. Mizuho Securities Co. Ltd. bought a new position in shares of Chevron during the 4th quarter valued at about $29,000. 10Elms LLP bought a new position in shares of Chevron during the 4th quarter valued at about $29,000. Finally, Fairway Wealth LLC boosted its position in shares of Chevron by 75.9% during the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock valued at $30,000 after purchasing an additional 88 shares in the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CVX has been the subject of several research reports. UBS Group reduced their price objective on shares of Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a research report on Monday, April 7th. Barclays lowered shares of Chevron from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $171.00 to $152.00 in a research report on Wednesday, April 23rd. Piper Sandler decreased their target price on shares of Chevron from $173.00 to $162.00 and set an “overweight” rating for the company in a report on Tuesday, May 13th. DZ Bank cut shares of Chevron from a “buy” rating to a “sell” rating and set a $130.00 target price for the company. in a report on Tuesday, May 6th. Finally, Wells Fargo & Company decreased their target price on shares of Chevron from $173.00 to $164.00 and set an “overweight” rating for the company in a report on Monday, May 5th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $160.24.

Chevron Price Performance

NYSE CVX opened at $145.74 on Friday. The firm has a market capitalization of $254.52 billion, a price-to-earnings ratio of 14.99, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83. The company has a 50 day simple moving average of $138.53 and a 200-day simple moving average of $149.20. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. Chevron Co. has a 52-week low of $132.04 and a 52-week high of $168.96.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.03. The firm had revenue of $47.61 billion for the quarter, compared to analyst estimates of $49.05 billion. Chevron had a net margin of 8.71% and a return on equity of 11.44%. The company’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same quarter last year, the firm earned $2.93 earnings per share. Equities research analysts predict that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 4.69%. The ex-dividend date of this dividend was Monday, May 19th. Chevron’s payout ratio is presently 78.17%.

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.