Chevron Co. (NYSE:CVX) Shares Purchased by Meritas Wealth Management LLC

Meritas Wealth Management LLC raised its holdings in Chevron Co. (NYSE:CVX) by 11.4% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 1,507 shares of the oil and gas company’s stock after acquiring an additional 154 shares during the period. Meritas Wealth Management LLC’s holdings in Chevron were worth $236,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. International Assets Investment Management LLC grew its stake in shares of Chevron by 4.9% during the 4th quarter. International Assets Investment Management LLC now owns 21,470 shares of the oil and gas company’s stock valued at $3,202,000 after buying an additional 1,005 shares during the period. Tennessee Valley Asset Management Partners purchased a new position in shares of Chevron in the 4th quarter worth about $83,000. GUNN & Co INVESTMENT MANAGEMENT INC. raised its holdings in shares of Chevron by 796.5% in the 4th quarter. GUNN & Co INVESTMENT MANAGEMENT INC. now owns 15,599 shares of the oil and gas company’s stock worth $2,327,000 after purchasing an additional 13,859 shares during the period. Larson Financial Group LLC lifted its stake in shares of Chevron by 13.6% in the 4th quarter. Larson Financial Group LLC now owns 4,891 shares of the oil and gas company’s stock valued at $730,000 after purchasing an additional 585 shares in the last quarter. Finally, Roble Belko & Company Inc grew its holdings in shares of Chevron by 77.3% during the 4th quarter. Roble Belko & Company Inc now owns 344 shares of the oil and gas company’s stock worth $51,000 after purchasing an additional 150 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

Shares of NYSE:CVX traded up $2.07 on Friday, reaching $147.80. 2,029,799 shares of the company’s stock were exchanged, compared to its average volume of 7,796,713. The business’s 50-day moving average is $153.07 and its two-hundred day moving average is $155.82. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13. Chevron Co. has a fifty-two week low of $139.62 and a fifty-two week high of $171.70. The firm has a market capitalization of $272.39 billion, a price-to-earnings ratio of 13.60, a PEG ratio of 2.46 and a beta of 1.10.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). Chevron had a net margin of 9.31% and a return on equity of 13.70%. The business had revenue of $51.18 billion for the quarter, compared to the consensus estimate of $48.68 billion. During the same period in the prior year, the company earned $3.08 EPS. Chevron’s quarterly revenue was up 4.7% on a year-over-year basis. As a group, equities research analysts forecast that Chevron Co. will post 11.96 EPS for the current year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 19th will be issued a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 4.41%. The ex-dividend date is Monday, August 19th. Chevron’s dividend payout ratio (DPR) is 59.98%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. HSBC lifted their price target on shares of Chevron from $175.00 to $178.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Truist Financial decreased their price target on shares of Chevron from $156.00 to $154.00 and set a “hold” rating for the company in a research report on Monday, August 5th. Barclays cut their price objective on Chevron from $203.00 to $185.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 6th. Scotiabank decreased their target price on Chevron from $195.00 to $180.00 and set a “sector outperform” rating for the company in a research report on Friday, July 12th. Finally, Wells Fargo & Company raised their target price on Chevron from $198.00 to $206.00 and gave the company an “overweight” rating in a report on Tuesday, April 30th. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Chevron currently has an average rating of “Moderate Buy” and an average price target of $183.82.

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.