Mesirow Financial Investment Management Inc. Has $29.96 Million Stock Position in Chevron Co. (NYSE:CVX)

Mesirow Financial Investment Management Inc. raised its holdings in shares of Chevron Co. (NYSE:CVX) by 0.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 203,402 shares of the oil and gas company’s stock after buying an additional 1,000 shares during the quarter. Mesirow Financial Investment Management Inc.’s holdings in Chevron were worth $29,955,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Rational Advisors LLC acquired a new stake in Chevron in the 3rd quarter worth $29,000. Anfield Capital Management LLC grew its position in Chevron by 118.0% during the second quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock worth $34,000 after buying an additional 118 shares in the last quarter. Cyrus J. Lawrence LLC increased its stake in Chevron by 66.7% during the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after acquiring an additional 100 shares during the period. Krane Funds Advisors LLC acquired a new position in Chevron in the 3rd quarter valued at approximately $47,000. Finally, Livelsberger Financial Advisory bought a new stake in shares of Chevron in the 3rd quarter worth approximately $47,000. 72.42% of the stock is owned by institutional investors.

Chevron Trading Up 0.1 %

Shares of CVX opened at $156.93 on Friday. The stock has a fifty day moving average price of $147.80 and a two-hundred day moving average price of $152.89. 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 company has a market cap of $287.01 billion, a price-to-earnings ratio of 17.25, a PEG ratio of 3.53 and a beta of 1.09. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $167.11.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.07%. The business had revenue of $50.67 billion for the quarter, compared to the consensus estimate of $48.86 billion. During the same quarter in the prior year, the company earned $3.05 EPS. The firm’s quarterly revenue was down 6.3% on a year-over-year basis. Analysts predict that Chevron Co. will post 10.59 EPS for the current fiscal year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 18th will be issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.15%. The ex-dividend date of this dividend is Monday, November 18th. Chevron’s dividend payout ratio is currently 71.65%.

Wall Street Analysts Forecast Growth

CVX has been the topic of a number of research reports. UBS Group boosted their price objective on Chevron from $192.00 to $194.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Wolfe Research began coverage on shares of Chevron in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. Bank of America began coverage on shares of Chevron in a report on Thursday, October 17th. They set a “buy” rating and a $168.00 price objective for the company. Truist Financial upped their target price on shares of Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a research note on Monday, November 4th. Finally, Mizuho cut their price target on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research note on Monday, September 16th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $174.93.

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.