Meeder Advisory Services Inc. Cuts Stock Position in Chevron Co. (NYSE:CVX)

Meeder Advisory Services Inc. reduced its position in Chevron Co. (NYSE:CVX) by 8.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 33,288 shares of the oil and gas company’s stock after selling 2,994 shares during the quarter. Meeder Advisory Services Inc.’s holdings in Chevron were worth $4,902,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CVX. Rational Advisors LLC purchased a new stake in Chevron during the 3rd quarter valued at about $29,000. Anfield Capital Management LLC raised its position in Chevron by 118.0% during the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock valued at $34,000 after purchasing an additional 118 shares during the last quarter. Cyrus J. Lawrence LLC raised its position in Chevron by 66.7% during the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 100 shares during the last quarter. Krane Funds Advisors LLC bought a new position in Chevron during the 3rd quarter valued at approximately $47,000. Finally, Livelsberger Financial Advisory bought a new position in Chevron during the 3rd quarter valued at approximately $47,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Stock Down 0.5 %

Shares of NYSE:CVX opened at $160.67 on Monday. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11. The business has a 50 day simple moving average of $149.39 and a two-hundred day simple moving average of $152.57. The firm has a market capitalization of $288.74 billion, a PE ratio of 17.74, a price-to-earnings-growth ratio of 3.63 and a beta of 1.09. 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 (NYSE:CVX) last issued its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, topping analysts’ consensus estimates of $2.47 by $0.04. The company had revenue of $50.67 billion during the quarter, compared to the consensus estimate of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.15%. Chevron’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.05 earnings per share. On average, equities analysts predict that Chevron Co. will post 10.55 EPS for the current year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be issued a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 4.06%. The ex-dividend date is Monday, November 18th. Chevron’s payout ratio is 71.65%.

Wall Street Analyst Weigh In

A number of research firms have commented on CVX. Bank of America began coverage on Chevron in a research report on Thursday, October 17th. They set a “buy” rating and a $168.00 price target for the company. Mizuho decreased their target price on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research report on Monday, September 16th. Truist Financial increased their target price on Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a research report on Monday, November 4th. Wells Fargo & Company decreased their target price on Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research report on Friday, September 27th. Finally, Scotiabank reduced their price objective on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $174.93.

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.