Meiji Yasuda Life Insurance Co Cuts Stock Holdings in Chevron Co. (NYSE:CVX)

Meiji Yasuda Life Insurance Co cut its stake in shares of Chevron Co. (NYSE:CVX) by 4.1% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 11,342 shares of the oil and gas company’s stock after selling 480 shares during the period. Meiji Yasuda Life Insurance Co’s holdings in Chevron were worth $1,789,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Camelot Portfolios LLC purchased a new position in shares of Chevron in the fourth quarter valued at $254,000. Kapstone Financial Advisors LLC boosted its holdings in Chevron by 5.3% in the fourth quarter. Kapstone Financial Advisors LLC now owns 4,216 shares of the oil and gas company’s stock valued at $626,000 after purchasing an additional 211 shares during the last quarter. Eagle Capital Management LLC grew its stake in Chevron by 0.5% during the 1st quarter. Eagle Capital Management LLC now owns 34,455 shares of the oil and gas company’s stock valued at $5,435,000 after purchasing an additional 163 shares in the last quarter. Lane & Associates LLC purchased a new stake in Chevron during the 1st quarter worth approximately $345,000. Finally, Guyasuta Investment Advisors Inc. raised its position in shares of Chevron by 1.7% in the 4th quarter. Guyasuta Investment Advisors Inc. now owns 216,593 shares of the oil and gas company’s stock valued at $32,307,000 after purchasing an additional 3,603 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Chevron news, VP Jeff B. Gustavson sold 3,750 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $160.23, for a total value of $600,862.50. Following the completion of the sale, the vice president now directly owns 477 shares in the company, valued at $76,429.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Enrique Hernandez, Jr. sold 5,098 shares of the company’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $163.50, for a total transaction of $833,523.00. Following the completion of the sale, the director now directly owns 2,549 shares of the company’s stock, valued at $416,761.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Jeff B. Gustavson sold 3,750 shares of the business’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $160.23, for a total value of $600,862.50. Following the sale, the vice president now owns 477 shares in the company, valued at approximately $76,429.71. The disclosure for this sale can be found here. Insiders sold 13,946 shares of company stock worth $2,265,971 over the last three months. Corporate insiders own 0.20% of the company’s stock.

Chevron Price Performance

Chevron stock traded up $0.95 during trading hours on Wednesday, hitting $160.52. 6,190,811 shares of the company traded hands, compared to its average volume of 7,762,805. Chevron Co. has a 1-year low of $139.62 and a 1-year high of $171.70. The firm has a market cap of $295.83 billion, a P/E ratio of 14.77, a P/E/G ratio of 2.52 and a beta of 1.10. The firm’s 50-day simple moving average is $156.58 and its two-hundred day simple moving average is $155.90. The company has a quick ratio of 0.93, a current ratio of 1.23 and a debt-to-equity ratio of 0.13.

Analyst Ratings Changes

A number of research firms have commented on CVX. Barclays initiated coverage on shares of Chevron in a research note on Wednesday, April 10th. They set an “overweight” rating and a $203.00 price objective on the stock. Piper Sandler increased their target price on Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a report on Thursday, April 18th. Truist Financial dropped their price target on Chevron from $166.00 to $156.00 and set a “hold” rating on the stock in a research report on Monday, July 22nd. Wolfe Research began coverage on shares of Chevron in a report on Thursday, July 18th. They issued a “peer perform” rating for the company. Finally, Sanford C. Bernstein cut shares of Chevron from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $183.00 to $167.00 in a report on Wednesday, July 17th. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, Chevron has a consensus rating of “Moderate Buy” and an average target price of $185.67.

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.