Meadow Creek Wealth Advisors LLC Invests $716,000 in Chevron Co. (NYSE:CVX)

Meadow Creek Wealth Advisors LLC bought a new position in Chevron Co. (NYSE:CVX) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 4,799 shares of the oil and gas company’s stock, valued at approximately $716,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in CVX. Picton Mahoney Asset Management acquired a new stake in shares of Chevron during the third quarter valued at approximately $26,000. Valley Forge Investment Consultants Inc. ADV raised its holdings in shares of Chevron by 80.0% during the third quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock valued at $30,000 after acquiring an additional 80 shares during the period. Valued Wealth Advisors LLC acquired a new stake in shares of Chevron during the fourth quarter valued at approximately $33,000. DHJJ Financial Advisors Ltd. acquired a new stake in shares of Chevron during the third quarter valued at approximately $35,000. Finally, Worth Asset Management LLC acquired a new stake in shares of Chevron during the first quarter valued at approximately $36,000. 72.42% of the stock is currently owned by institutional investors.

Chevron Stock Up 0.9 %

CVX stock traded up $1.39 during trading hours on Friday, hitting $157.74. The company’s stock had a trading volume of 8,331,627 shares, compared to its average volume of 8,810,399. The company has a quick ratio of 1.01, a current ratio of 1.27 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $292.97 billion, a PE ratio of 13.89, a price-to-earnings-growth ratio of 2.40 and a beta of 1.12. Chevron Co. has a 12 month low of $139.62 and a 12 month high of $172.88. The stock has a 50 day moving average price of $151.60 and a two-hundred day moving average price of $152.67.

Chevron (NYSE:CVX) last posted its earnings results on Friday, February 2nd. The oil and gas company reported $3.45 EPS for the quarter, topping the consensus estimate of $3.19 by $0.26. The company had revenue of $47.18 billion during the quarter, compared to the consensus estimate of $50.93 billion. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The company’s revenue for the quarter was down 16.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.09 earnings per share. On average, equities research analysts expect that Chevron Co. will post 13.04 earnings per share for the current year.

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Friday, February 16th were issued a dividend of $1.63 per share. This is an increase from Chevron’s previous quarterly dividend of $1.51. This represents a $6.52 annualized dividend and a dividend yield of 4.13%. The ex-dividend date was Thursday, February 15th. Chevron’s dividend payout ratio is currently 57.39%.

Wall Street Analyst Weigh In

CVX has been the topic of a number of recent analyst reports. Royal Bank of Canada boosted their price target on shares of Chevron from $185.00 to $190.00 and gave the company an “outperform” rating in a report on Monday, February 5th. DZ Bank lowered shares of Chevron from a “buy” rating to a “hold” rating and set a $160.00 price target on the stock. in a report on Tuesday, February 6th. UBS Group cut their price target on shares of Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a report on Thursday, December 14th. Piper Sandler lowered their price objective on shares of Chevron from $188.00 to $180.00 and set an “overweight” rating on the stock in a research report on Thursday, March 14th. Finally, TD Cowen downgraded shares of Chevron from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $170.00 to $150.00 in a research report on Tuesday, January 23rd. Seven equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $180.39.

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.