Meiji Yasuda Asset Management Co Ltd. Has $20.06 Million Holdings in Chevron Co. (NYSE:CVX)

Meiji Yasuda Asset Management Co Ltd. decreased its holdings in Chevron Co. (NYSE:CVX) by 1.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 138,475 shares of the oil and gas company’s stock after selling 2,296 shares during the quarter. Chevron accounts for about 0.8% of Meiji Yasuda Asset Management Co Ltd.’s portfolio, making the stock its 22nd largest holding. Meiji Yasuda Asset Management Co Ltd.’s holdings in Chevron were worth $20,057,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in CVX. Baxter Bros Inc. boosted its stake in shares of Chevron by 1.3% in the fourth quarter. Baxter Bros Inc. now owns 66,268 shares of the oil and gas company’s stock valued at $9,598,000 after buying an additional 881 shares during the period. Bay Capital Advisors LLC bought a new stake in shares of Chevron during the 4th quarter valued at $307,000. PKS Advisory Services LLC bought a new stake in shares of Chevron during the 4th quarter valued at $327,000. Signature Estate & Investment Advisors LLC grew its holdings in shares of Chevron by 1.8% during the 4th quarter. Signature Estate & Investment Advisors LLC now owns 396,518 shares of the oil and gas company’s stock worth $57,432,000 after purchasing an additional 7,139 shares in the last quarter. Finally, Heritage Wealth Management Inc. CA increased its holdings in Chevron by 43.0% in the 4th quarter. Heritage Wealth Management Inc. CA now owns 1,842 shares of the oil and gas company’s stock valued at $267,000 after buying an additional 554 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on CVX. Truist Financial cut their price target on shares of Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a report on Tuesday, February 4th. Barclays reduced their target price on Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Citigroup raised Chevron from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $145.00 to $185.00 in a report on Tuesday, November 26th. UBS Group decreased their target price on Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a research report on Monday, February 3rd. Finally, Wells Fargo & Company dropped their target price on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Four research 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.com, the company currently has an average rating of “Moderate Buy” and an average price target of $174.13.

Insider Activity at Chevron

In related news, VP Jeff B. Gustavson sold 9,325 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the completion of the sale, the vice president now owns 1,057 shares of the company’s stock, valued at $161,192.50. This trade represents a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.20% of the stock is owned by company insiders.

Chevron Stock Up 0.2 %

Shares of CVX opened at $165.10 on Tuesday. The stock’s 50-day moving average price is $156.49 and its two-hundred day moving average price is $152.81. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $167.11. The company has a market capitalization of $290.68 billion, a PE ratio of 16.99, a PEG ratio of 1.46 and a beta of 1.08. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last announced its earnings results on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a net margin of 8.71% and a return on equity of 11.44%. During the same period in the prior year, the firm earned $3.45 earnings per share. On average, analysts anticipate that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were paid a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 4.14%. The ex-dividend date was Friday, February 14th. This is an increase from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio (DPR) is currently 70.37%.

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.