Meixler Investment Management Ltd. Sells 418 Shares of Chevron Co. (NYSE:CVX)

Meixler Investment Management Ltd. lowered its position in shares of Chevron Co. (NYSE:CVX) by 15.6% during the 4th quarter, Holdings Channel.com reports. The firm owned 2,263 shares of the oil and gas company’s stock after selling 418 shares during the period. Meixler Investment Management Ltd.’s holdings in Chevron were worth $338,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of CVX. Mach 1 Financial Group LLC boosted its stake in shares of Chevron by 6.8% in the third quarter. Mach 1 Financial Group LLC now owns 8,000 shares of the oil and gas company’s stock worth $1,349,000 after acquiring an additional 512 shares during the period. Mcrae Capital Management Inc. lifted its holdings in Chevron by 75.7% in the 3rd quarter. Mcrae Capital Management Inc. now owns 4,423 shares of the oil and gas company’s stock worth $746,000 after purchasing an additional 1,906 shares in the last quarter. B & T Capital Management DBA Alpha Capital Management boosted its stake in Chevron by 1.8% in the 3rd quarter. B & T Capital Management DBA Alpha Capital Management now owns 23,071 shares of the oil and gas company’s stock worth $3,890,000 after purchasing an additional 406 shares during the period. GHP Investment Advisors Inc. grew its holdings in Chevron by 3.2% during the 3rd quarter. GHP Investment Advisors Inc. now owns 26,249 shares of the oil and gas company’s stock valued at $4,306,000 after buying an additional 812 shares in the last quarter. Finally, Willis Investment Counsel raised its position in shares of Chevron by 0.4% during the third quarter. Willis Investment Counsel now owns 71,871 shares of the oil and gas company’s stock valued at $12,119,000 after buying an additional 300 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors.

Chevron Trading Up 0.4 %

Shares of Chevron stock traded up $0.61 during trading on Friday, hitting $165.89. The stock had a trading volume of 9,736,350 shares, compared to its average volume of 7,082,480. Chevron Co. has a 12 month low of $139.62 and a 12 month high of $171.70. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.27 and a quick ratio of 1.01. The firm’s fifty day simple moving average is $156.58 and its 200-day simple moving average is $151.73. The stock has a market cap of $308.10 billion, a PE ratio of 15.26, a PEG ratio of 2.44 and a beta of 1.12.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, topping analysts’ consensus estimates of $2.84 by $0.09. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The company had revenue of $48.72 billion for the quarter, compared to analyst estimates of $48.42 billion. During the same period in the prior year, the company posted $3.55 EPS. The firm’s revenue for the quarter was down 4.1% on a year-over-year basis. As a group, sell-side analysts expect that Chevron Co. will post 13.58 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 17th will be given a dividend of $1.63 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $6.52 annualized dividend and a dividend yield of 3.93%. Chevron’s dividend payout ratio (DPR) is 59.98%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Piper Sandler upped their target price on shares of Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a research report on Thursday, April 18th. Jefferies Financial Group raised shares of Chevron from a “hold” rating to a “buy” rating and set a $184.00 price objective for the company in a report on Monday, January 8th. Royal Bank of Canada lifted their target price on Chevron from $185.00 to $190.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. Truist Financial dropped their price target on Chevron from $168.00 to $156.00 and set a “hold” rating for the company in a research note on Friday, April 5th. Finally, DZ Bank cut Chevron from a “buy” rating to a “hold” rating and set a $160.00 price objective on the stock. in a report on Tuesday, February 6th. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, Chevron presently has an average rating of “Moderate Buy” and a consensus target price of $184.75.

Insider Activity

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total value of $448,252.00. Following the completion of the sale, the vice president now directly owns 276 shares of the company’s stock, valued at approximately $44,184.84. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.18% of the company’s stock.

Chevron Company 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.