Meeder Advisory Services Inc. Lowers Stake in Chevron Co. (NYSE:CVX)

Meeder Advisory Services Inc. reduced its position in shares of Chevron Co. (NYSE:CVX) by 8.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & 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 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Ameriprise Financial Inc. raised its position in shares of Chevron by 3.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 17,111,051 shares of the oil and gas company’s stock worth $2,676,957,000 after purchasing an additional 501,969 shares during the last quarter. Capital World Investors boosted its position in shares of Chevron by 3.2% during the 1st quarter. Capital World Investors now owns 16,009,766 shares of the oil and gas company’s stock worth $2,525,380,000 after purchasing an additional 495,879 shares during the period. Legal & General Group Plc boosted its position in shares of Chevron by 4.9% during the 2nd quarter. Legal & General Group Plc now owns 13,570,971 shares of the oil and gas company’s stock worth $2,122,772,000 after purchasing an additional 629,644 shares during the period. Capital International Investors boosted its position in shares of Chevron by 5.9% during the 1st quarter. Capital International Investors now owns 13,418,287 shares of the oil and gas company’s stock worth $2,116,600,000 after purchasing an additional 743,042 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of Chevron by 1.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 13,021,023 shares of the oil and gas company’s stock worth $2,036,846,000 after purchasing an additional 126,889 shares during the period. 72.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CVX has been the subject of a number of research analyst reports. Scotiabank lowered their price objective on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Mizuho lowered their price objective on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research report on Monday, September 16th. DZ Bank raised shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target for the company in a research report on Tuesday, November 5th. Bank of America started coverage on shares of Chevron in a research report on Thursday, October 17th. They issued a “buy” rating and a $168.00 price target for the company. Finally, Truist Financial lifted their price objective on shares of Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a research report on Monday, November 4th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $174.93.

Chevron Stock Performance

Shares of CVX opened at $160.67 on Monday. The firm’s 50 day moving average is $149.39 and its 200-day moving average is $152.57. The stock has a market capitalization of $288.74 billion, a P/E ratio of 17.74, a P/E/G 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 Co. has a 12-month low of $135.37 and a 12-month high of $167.11.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The firm had revenue of $50.67 billion for the quarter, compared to the consensus estimate of $48.86 billion. During the same period in the previous year, the firm posted $3.05 earnings per share. The firm’s revenue was down 6.3% on a year-over-year basis. Equities research analysts anticipate that Chevron Co. will post 10.55 EPS for the current fiscal year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 18th will be paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 4.06%. The ex-dividend date of this dividend is Monday, November 18th. Chevron’s payout ratio is currently 71.65%.

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.