Meridian Financial Partners LLC Buys 182 Shares of Chevron Co. (NYSE:CVX)

Meridian Financial Partners LLC grew its stake in Chevron Co. (NYSE:CVX) by 1.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,349 shares of the oil and gas company’s stock after acquiring an additional 182 shares during the period. Chevron accounts for about 1.0% of Meridian Financial Partners LLC’s investment portfolio, making the stock its 23rd biggest position. Meridian Financial Partners LLC’s holdings in Chevron were worth $1,966,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. West Oak Capital LLC grew its position in shares of Chevron by 5.0% during the 3rd quarter. West Oak Capital LLC now owns 18,706 shares of the oil and gas company’s stock worth $2,755,000 after buying an additional 895 shares during the period. Moss Adams Wealth Advisors LLC raised its position in shares of Chevron by 4.0% during the 3rd quarter. Moss Adams Wealth Advisors LLC now owns 6,435 shares of the oil and gas company’s stock valued at $948,000 after acquiring an additional 245 shares during the last quarter. Net Worth Advisory Group acquired a new position in shares of Chevron in the 3rd quarter valued at $841,000. Precedent Wealth Partners LLC boosted its position in shares of Chevron by 9.5% in the 3rd quarter. Precedent Wealth Partners LLC now owns 10,872 shares of the oil and gas company’s stock worth $1,601,000 after purchasing an additional 945 shares during the last quarter. Finally, Stratos Investment Management LLC increased its holdings in Chevron by 15.4% in the third quarter. Stratos Investment Management LLC now owns 33,337 shares of the oil and gas company’s stock valued at $4,910,000 after purchasing an additional 4,443 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on CVX shares. UBS Group raised their target price on Chevron from $189.00 to $192.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Wolfe Research assumed coverage on shares of Chevron in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. Truist Financial cut their target price on shares of Chevron from $154.00 to $150.00 and set a “hold” rating on the stock in a report on Monday, September 30th. Royal Bank of Canada restated an “outperform” rating and issued a $170.00 price objective on shares of Chevron in a research report on Tuesday, October 8th. Finally, Barclays reduced their target price on Chevron from $185.00 to $168.00 and set an “overweight” rating on the stock in a report on Thursday, October 3rd. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $173.07.

Chevron Price Performance

NYSE:CVX opened at $150.74 on Friday. The stock’s 50-day simple moving average is $146.07 and its 200 day simple moving average is $153.71. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $170.17. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16. The company has a market cap of $277.81 billion, a P/E ratio of 13.87, a P/E/G ratio of 2.74 and a beta of 1.09.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 EPS 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 firm had revenue of $51.18 billion during the quarter, compared to the consensus estimate of $48.68 billion. During the same period last year, the business earned $3.08 EPS. The business’s revenue was up 4.7% on a year-over-year basis. As a group, sell-side analysts forecast that Chevron Co. will post 11.06 EPS for the current fiscal year.

Chevron Announces Dividend

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 $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 4.33%. The ex-dividend date of this dividend was Monday, August 19th. Chevron’s payout ratio 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.