MeadowBrook Investment Advisors LLC Raises Stake in Chevron Co. (NYSE:CVX)

MeadowBrook Investment Advisors LLC grew its stake in shares of Chevron Co. (NYSE:CVX) by 62.0% during the third quarter, according to the company in its most recent disclosure with the Securities and 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 quarter. MeadowBrook Investment Advisors LLC’s holdings in Chevron were worth $526,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CVX. Montz Harcus Wealth Management LLC increased its holdings in shares of Chevron by 2.2% during the second quarter. Montz Harcus Wealth Management LLC now owns 2,943 shares of the oil and gas company’s stock valued at $460,000 after purchasing an additional 63 shares during the period. Hubbell Strickland Wealth Management LLC grew its holdings in Chevron by 0.7% during the second quarter. Hubbell Strickland Wealth Management LLC now owns 9,493 shares of the oil and gas company’s stock worth $1,485,000 after acquiring an additional 64 shares during the period. Tacita Capital Inc grew its holdings in Chevron by 16.7% during the third quarter. Tacita Capital Inc now owns 454 shares of the oil and gas company’s stock worth $67,000 after acquiring an additional 65 shares during the period. Cyndeo Wealth Partners LLC grew its holdings in Chevron by 0.3% during the third quarter. Cyndeo Wealth Partners LLC now owns 19,769 shares of the oil and gas company’s stock worth $2,911,000 after acquiring an additional 67 shares during the period. Finally, S.A. Mason LLC grew its holdings in Chevron by 0.7% during the third quarter. S.A. Mason LLC now owns 9,033 shares of the oil and gas company’s stock worth $1,330,000 after acquiring an additional 67 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on CVX. UBS Group lifted their target price on Chevron from $192.00 to $194.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Barclays lifted their target price on Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Bank of America began coverage on Chevron in a report on Thursday, October 17th. They set a “buy” rating and a $168.00 target price on the stock. Scotiabank decreased their price target on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Finally, Wolfe Research began coverage on Chevron in a research report on Thursday, July 18th. They issued a “peer perform” rating for the company. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $174.93.

Chevron Stock Up 1.0 %

Shares of CVX traded up $1.61 during midday trading on Thursday, reaching $160.33. 2,339,549 shares of the stock were exchanged, compared to its average volume of 7,634,325. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11. The firm 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. The company has a market cap of $288.13 billion, a price-to-earnings ratio of 17.44, a P/E/G ratio of 3.49 and a beta of 1.09.

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

Chevron Dividend Announcement

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

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.