Meeder Advisory Services Inc. Boosts Stake in Chevron Corporation $CVX

by · The Cerbat Gem

Meeder Advisory Services Inc. lifted its stake in shares of Chevron Corporation (NYSE:CVX – Free Report) by 9.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 39,512 shares of the oil and gas company’s stock after buying an additional 3,483 shares during the period. Meeder Advisory Services Inc.’s holdings in Chevron were worth $8,175,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in CVX. Cornerstone Advisory LLC lifted its position in Chevron by 0.9% during the 1st quarter. Cornerstone Advisory LLC now owns 5,625 shares of the oil and gas company’s stock worth $1,164,000 after acquiring an additional 52 shares during the period. Compton Financial Group LLC grew its stake in Chevron by 1.9% during the 1st quarter. Compton Financial Group LLC now owns 2,944 shares of the oil and gas company’s stock valued at $609,000 after purchasing an additional 56 shares during the last quarter. Quantum Portfolio Management LLC increased its holdings in shares of Chevron by 2.7% in the first quarter. Quantum Portfolio Management LLC now owns 2,101 shares of the oil and gas company’s stock valued at $435,000 after purchasing an additional 56 shares during the period. D.B. Root & Company LLC increased its holdings in shares of Chevron by 1.0% in the fourth quarter. D.B. Root & Company LLC now owns 5,552 shares of the oil and gas company’s stock valued at $846,000 after purchasing an additional 57 shares during the period. Finally, Chatterton & Associates Inc. raised its stake in shares of Chevron by 1.7% in the first quarter. Chatterton & Associates Inc. now owns 3,427 shares of the oil and gas company’s stock worth $652,000 after purchasing an additional 57 shares during the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Wolfe Research raised Chevron from a “peer perform” rating to an “outperform” rating and set a $210.00 target price for the company in a report on Thursday, July 2nd. The Goldman Sachs Group reiterated a “buy” rating and issued a $216.00 price target on shares of Chevron in a report on Wednesday, May 6th. BNP Paribas Exane raised shares of Chevron from a “neutral” rating to an “outperform” rating and set a $174.00 price target for the company in a research report on Friday, April 17th. Tudor Pickering upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $225.00 price objective for the company in a research note on Thursday, April 9th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $220.00 price objective on shares of Chevron in a report on Tuesday, May 5th. Nineteen equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $206.83.

Check Out Our Latest Report on CVX

Chevron News Summary

Here are the key news stories impacting Chevron this week:

  • Positive Sentiment: Chevron is expected to sign accords with Iraq to advance investments in major oil fields, including West Qurna 2 and Nassiriya, which could expand long-term production opportunities. Reuters article on Iraq oilfield MOUs
  • Positive Sentiment: Reports that Chevron is exploring a pipeline alternative to the Strait of Hormuz suggest a potential way to boost Iraqi export capacity and lower shipping disruption risk, which investors may view as strategically important. The Motley Fool article on Hormuz bypass pipeline
  • Positive Sentiment: Chevron is being highlighted as a relatively attractive long-term energy stock versus TotalEnergies because of its premium assets, strong balance sheet, and steadier earnings outlook. Yahoo Finance article comparing CVX and TTE
  • Neutral Sentiment: Some commentary says Chevron stock looks closer to fairly valued after a strong five-year run, which may limit upside for investors expecting a clear bargain. Yahoo Finance article on valuation
  • Neutral Sentiment: Chevron also benefited from broader energy-sector gains, with the sector rising even as the wider market was mixed. Yahoo Finance sector update

Chevron Price Performance

Shares of Chevron stock opened at $187.39 on Monday. The company has a quick ratio of 0.84, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. Chevron Corporation has a twelve month low of $146.49 and a twelve month high of $214.71. The business has a 50-day moving average price of $181.54 and a 200 day moving average price of $182.66. The firm has a market cap of $373.21 billion, a PE ratio of 32.48, a P/E/G ratio of 0.66 and a beta of 0.50.

Chevron (NYSE:CVX – Get Free Report) last issued its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.41. The company had revenue of $47.56 billion for the quarter, compared to the consensus estimate of $51.86 billion. Chevron had a return on equity of 6.90% and a net margin of 5.79%.Chevron’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.18 earnings per share. Sell-side analysts predict that Chevron Corporation will post 14.78 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 19th were paid a dividend of $1.78 per share. This represents a $7.12 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend was Tuesday, May 19th. Chevron’s dividend payout ratio is presently 123.40%.

Insider Buying and Selling at Chevron

In other news, Director John B. Hess sold 380,000 shares of the stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $193.20, for a total transaction of $73,416,000.00. Following the transaction, the director owned 278,045 shares in the company, valued at $53,718,294. This trade represents a 57.75% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.56% of the stock is currently owned by insiders.

Chevron Company Profile

(Free Report)

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.

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