MeadowBrook Investment Advisors LLC Takes Position in Chevron Co. (NYSE:CVX)

MeadowBrook Investment Advisors LLC acquired a new stake in shares of Chevron Co. (NYSE:CVX) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 642 shares of the oil and gas company’s stock, valued at approximately $96,000.

A number of other hedge funds have also recently made changes to their positions in the business. Picton Mahoney Asset Management bought a new stake in Chevron in the third quarter worth about $26,000. Bare Financial Services Inc bought a new stake in Chevron in the fourth quarter worth about $27,000. Valley Forge Investment Consultants Inc. ADV raised its position in Chevron by 80.0% in the third quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock worth $30,000 after acquiring an additional 80 shares during the period. Valued Wealth Advisors LLC bought a new stake in Chevron in the fourth quarter worth about $33,000. Finally, Legacy Financial Group LLC bought a new stake in shares of Chevron in the third quarter valued at approximately $43,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, VP Alana K. Knowles sold 2,800 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total transaction of $448,252.00. Following the transaction, the vice president now owns 276 shares in the company, valued at $44,184.84. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.20% of the company’s stock.

Chevron Trading Up 1.3 %

CVX stock traded up $2.05 during midday trading on Monday, reaching $162.30. The company’s stock had a trading volume of 8,427,958 shares, compared to its average volume of 8,484,045. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.93 and a current ratio of 1.23. The stock has a fifty day simple moving average of $157.41 and a two-hundred day simple moving average of $151.48. Chevron Co. has a 1 year low of $139.62 and a 1 year high of $171.70. The firm has a market capitalization of $301.43 billion, a price-to-earnings ratio of 14.93, a PEG ratio of 2.37 and a beta of 1.11.

Chevron (NYSE:CVX) last released its earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, topping analysts’ consensus estimates of $2.84 by $0.09. The business had revenue of $48.72 billion for the quarter, compared to analyst estimates of $48.42 billion. Chevron had a return on equity of 14.40% and a net margin of 10.21%. The business’s revenue was down 4.1% compared to the same quarter last year. During the same quarter last year, the firm posted $3.55 earnings per share. On average, equities research analysts predict that Chevron Co. will post 13.53 EPS for the current year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 17th will be paid a dividend of $1.63 per share. The ex-dividend date is Thursday, May 16th. This represents a $6.52 annualized dividend and a dividend yield of 4.02%. Chevron’s dividend payout ratio is currently 59.98%.

Wall Street Analysts Forecast Growth

CVX has been the subject of a number of recent analyst reports. Piper Sandler upped their price target on shares of Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a report on Thursday, April 18th. Wells Fargo & Company upped their price objective on shares of Chevron from $198.00 to $206.00 and gave the stock an “overweight” rating in a report on Tuesday, April 30th. UBS Group upped their price objective on shares of Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a report on Tuesday, April 9th. The Goldman Sachs Group restated a “buy” rating on shares of Chevron in a report on Monday, April 1st. Finally, TD Cowen upped their price objective on shares of Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a report on Monday, April 29th. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $185.35.

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.