Mesirow Financial Investment Management Inc. Has $31.67 Million Stock Position in Chevron Co. (NYSE:CVX)

Mesirow Financial Investment Management Inc. grew its holdings in Chevron Co. (NYSE:CVX) by 2.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 202,402 shares of the oil and gas company’s stock after purchasing an additional 4,580 shares during the quarter. Mesirow Financial Investment Management Inc.’s holdings in Chevron were worth $31,668,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. American Capital Advisory LLC lifted its stake in Chevron by 403.2% in the first quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock valued at $25,000 after buying an additional 125 shares in the last quarter. Frank Rimerman Advisors LLC bought a new position in shares of Chevron in the 4th quarter valued at about $30,000. Anfield Capital Management LLC increased its position in shares of Chevron by 118.0% during the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock worth $34,000 after purchasing an additional 118 shares during the last quarter. Cooksen Wealth LLC acquired a new position in Chevron during the fourth quarter worth $40,000. Finally, Clear Investment Research LLC raised its holdings in shares of Chevron by 264.9% in the 4th quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock valued at $42,000 after purchasing an additional 204 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on CVX shares. Barclays dropped their price target on Chevron from $203.00 to $185.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 6th. Royal Bank of Canada dropped their price target on Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a report on Monday, August 5th. Truist Financial decreased their price objective on Chevron from $156.00 to $154.00 and set a “hold” rating on the stock in a report on Monday, August 5th. Wolfe Research initiated coverage on shares of Chevron in a report on Thursday, July 18th. They set a “peer perform” rating on the stock. Finally, Sanford C. Bernstein downgraded Chevron from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $183.00 to $167.00 in a research note on Wednesday, July 17th. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $183.82.

Chevron Price Performance

Shares of CVX opened at $140.61 on Monday. The business has a 50-day simple moving average of $149.12 and a two-hundred day simple moving average of $154.75. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $171.70. The stock has a market cap of $257.16 billion, a PE ratio of 12.94, a PEG ratio of 2.41 and a beta of 1.09. 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 (NYSE:CVX) last posted 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). The company had revenue of $51.18 billion during the quarter, compared to analyst estimates of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.08 earnings per share. Analysts anticipate that Chevron Co. will post 11.57 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were given a dividend of $1.63 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.64%. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

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.