Chevron Co. (NYSE:CVX) Shares Purchased by Meeder Advisory Services Inc.

Meeder Advisory Services Inc. raised its position in Chevron Co. (NYSE:CVX) by 40.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 36,282 shares of the oil and gas company’s stock after purchasing an additional 10,386 shares during the quarter. Meeder Advisory Services Inc.’s holdings in Chevron were worth $5,675,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Eagle Capital Management LLC lifted its position in Chevron by 0.5% in the first quarter. Eagle Capital Management LLC now owns 34,455 shares of the oil and gas company’s stock valued at $5,435,000 after buying an additional 163 shares during the last quarter. Lane & Associates LLC purchased a new position in shares of Chevron during the 1st quarter worth approximately $345,000. Seven Mile Advisory boosted its position in shares of Chevron by 9.8% during the 4th quarter. Seven Mile Advisory now owns 2,766 shares of the oil and gas company’s stock worth $413,000 after purchasing an additional 247 shares during the period. KCM Investment Advisors LLC raised its position in Chevron by 2.5% in the first quarter. KCM Investment Advisors LLC now owns 331,550 shares of the oil and gas company’s stock valued at $52,299,000 after purchasing an additional 8,168 shares during the period. Finally, Livelsberger Financial Advisory purchased a new stake in Chevron in the fourth quarter valued at approximately $46,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Price Performance

Shares of NYSE CVX opened at $139.22 on Friday. The stock’s 50-day simple moving average is $149.40 and its 200-day simple moving average is $154.81. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16. The firm has a market capitalization of $254.62 billion, a PE ratio of 12.81, a price-to-earnings-growth ratio of 2.37 and a beta of 1.09. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $171.70.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($0.38). The company had revenue of $51.18 billion for the quarter, compared to analysts’ expectations of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.08 EPS. As a group, equities research analysts forecast that Chevron Co. will post 11.63 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were paid a $1.63 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $6.52 annualized dividend and a yield of 4.68%. Chevron’s dividend payout ratio is presently 59.98%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on CVX shares. Truist Financial dropped their price objective on Chevron from $156.00 to $154.00 and set a “hold” rating for the company in a research note on Monday, August 5th. Sanford C. Bernstein downgraded Chevron from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $183.00 to $167.00 in a research report on Wednesday, July 17th. Barclays cut their price target on shares of Chevron from $203.00 to $185.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 6th. Scotiabank lowered their price objective on shares of Chevron from $195.00 to $180.00 and set a “sector outperform” rating for the company in a research note on Friday, July 12th. Finally, Royal Bank of Canada cut their target price on shares of Chevron from $190.00 to $180.00 and set an “outperform” rating on the stock in a research note on Monday, August 5th. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Chevron has an average rating of “Moderate Buy” and an average target price of $183.82.

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.