Chevron Co. (NYSE:CVX) Stake Lifted by Meiji Yasuda Life Insurance Co

Meiji Yasuda Life Insurance Co increased its stake in shares of Chevron Co. (NYSE:CVX) by 4.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,852 shares of the oil and gas company’s stock after buying an additional 510 shares during the quarter. Meiji Yasuda Life Insurance Co’s holdings in Chevron were worth $1,854,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Mercer Global Advisors Inc. ADV grew its stake in Chevron by 1.9% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 547,315 shares of the oil and gas company’s stock worth $85,611,000 after buying an additional 10,419 shares during the last quarter. Meridian Wealth Partners LLC grew its stake in shares of Chevron by 8.7% in the second quarter. Meridian Wealth Partners LLC now owns 2,450 shares of the oil and gas company’s stock worth $383,000 after purchasing an additional 197 shares in the last quarter. E Fund Management Co. Ltd. grew its stake in shares of Chevron by 10.9% in the second quarter. E Fund Management Co. Ltd. now owns 10,858 shares of the oil and gas company’s stock worth $1,698,000 after purchasing an additional 1,068 shares in the last quarter. Wealth Alliance grew its stake in shares of Chevron by 24.3% in the second quarter. Wealth Alliance now owns 21,809 shares of the oil and gas company’s stock worth $3,411,000 after purchasing an additional 4,259 shares in the last quarter. Finally, Financial & Tax Architects LLC grew its stake in shares of Chevron by 4.2% in the second quarter. Financial & Tax Architects LLC now owns 37,738 shares of the oil and gas company’s stock worth $5,903,000 after purchasing an additional 1,524 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors.

Chevron Trading Up 1.0 %

Shares of NYSE CVX opened at $143.46 on Wednesday. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $171.70. The company has a market cap of $262.38 billion, a price-to-earnings ratio of 13.20, a P/E/G ratio of 2.41 and a beta of 1.09. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13. The business has a fifty day simple moving average of $148.69 and a 200-day simple moving average of $154.61.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.38). The business had revenue of $51.18 billion during 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 revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the company posted $3.08 earnings per share. Sell-side analysts predict that Chevron Co. will post 11.57 EPS for the current year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were paid a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 4.54%. The ex-dividend date of this dividend was Monday, August 19th. Chevron’s dividend payout ratio is currently 59.98%.

Analyst Ratings Changes

CVX has been the subject of several recent analyst reports. Royal Bank of Canada decreased their price target on Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a research note on Monday, August 5th. Truist Financial cut their price objective on Chevron from $156.00 to $154.00 and set a “hold” rating for the company in a report on Monday, August 5th. Sanford C. Bernstein lowered Chevron from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $183.00 to $167.00 in a report on Wednesday, July 17th. Wolfe Research initiated coverage on Chevron in a report on Thursday, July 18th. They issued a “peer perform” rating for the company. Finally, Scotiabank cut their price objective on Chevron from $195.00 to $180.00 and set a “sector outperform” rating for the company in a report on Friday, July 12th. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $182.88.

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.