Chevron Co. (NYSE:CVX) Shares Purchased by Merit Financial Group LLC

Merit Financial Group LLC boosted its stake in shares of Chevron Co. (NYSE:CVX) by 19.7% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 81,697 shares of the oil and gas company’s stock after acquiring an additional 13,443 shares during the period. Merit Financial Group LLC’s holdings in Chevron were worth $11,833,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CVX. Tacita Capital Inc grew its holdings in Chevron by 16.7% in the 3rd quarter. Tacita Capital Inc now owns 454 shares of the oil and gas company’s stock valued at $67,000 after buying an additional 65 shares during the period. Wallace Capital Management Inc. grew its holdings in Chevron by 0.8% in the third quarter. Wallace Capital Management Inc. now owns 8,229 shares of the oil and gas company’s stock valued at $1,212,000 after purchasing an additional 65 shares during the period. Cyndeo Wealth Partners LLC increased its position 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 purchasing an additional 67 shares during the last quarter. S.A. Mason LLC raised its stake 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 purchasing an additional 67 shares during the period. Finally, Jag Capital Management LLC boosted its holdings in shares of Chevron by 5.2% in the 3rd quarter. Jag Capital Management LLC now owns 1,366 shares of the oil and gas company’s stock valued at $201,000 after purchasing an additional 67 shares during the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on CVX. Scotiabank reduced their target price on Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Wells Fargo & Company increased their target price on shares of Chevron from $171.00 to $188.00 and gave the stock an “overweight” rating in a research report on Monday, December 9th. UBS Group lifted their price target on shares of Chevron from $194.00 to $195.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Barclays increased their price objective on shares of Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Finally, Truist Financial upped their price target on shares of Chevron from $160.00 to $164.00 and gave the stock a “hold” rating in a research report on Monday, January 13th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $175.27.

Insider Activity at Chevron

In related news, CEO Michael K. Wirth sold 164,600 shares of the stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the sale, the chief executive officer now owns 4,280 shares in the company, valued at $685,356.40. This represents a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.20% of the company’s stock.

Chevron Trading Up 1.4 %

NYSE CVX opened at $161.54 on Friday. The company has a market capitalization of $290.30 billion, a price-to-earnings ratio of 17.75, a price-to-earnings-growth ratio of 2.62 and a beta of 1.12. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $167.11. The company’s fifty day moving average price is $153.93 and its two-hundred day moving average price is $151.09.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, topping the consensus estimate of $2.47 by $0.04. The business had revenue of $50.67 billion for the quarter, compared to analysts’ expectations of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The company’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same quarter last year, the company posted $3.05 earnings per share. As a group, research analysts predict that Chevron Co. will post 10.39 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th were issued a $1.63 dividend. The ex-dividend date was Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.04%. Chevron’s dividend payout ratio (DPR) is 71.65%.

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.