Meixler Investment Management Ltd. Buys 79 Shares of Chevron Co. (NYSE:CVX)

Meixler Investment Management Ltd. raised its stake in shares of Chevron Co. (NYSE:CVX) by 3.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,342 shares of the oil and gas company’s stock after purchasing an additional 79 shares during the quarter. Meixler Investment Management Ltd.’s holdings in Chevron were worth $369,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Pacifica Partners Inc. increased its holdings in shares of Chevron by 1.8% in the first quarter. Pacifica Partners Inc. now owns 3,492 shares of the oil and gas company’s stock valued at $546,000 after purchasing an additional 63 shares during the last quarter. Private Wealth Management Group LLC increased its holdings in shares of Chevron by 15.7% in the first quarter. Private Wealth Management Group LLC now owns 464 shares of the oil and gas company’s stock valued at $73,000 after purchasing an additional 63 shares during the last quarter. Ellenbecker Investment Group increased its holdings in shares of Chevron by 1.5% in the first quarter. Ellenbecker Investment Group now owns 4,346 shares of the oil and gas company’s stock valued at $686,000 after purchasing an additional 65 shares during the last quarter. Mayfair Advisory Group LLC increased its holdings in shares of Chevron by 0.7% in the first quarter. Mayfair Advisory Group LLC now owns 9,407 shares of the oil and gas company’s stock valued at $1,484,000 after purchasing an additional 65 shares during the last quarter. Finally, Penbrook Management LLC grew its position in Chevron by 3.9% in the first quarter. Penbrook Management LLC now owns 1,730 shares of the oil and gas company’s stock worth $273,000 after acquiring an additional 65 shares during the period. 72.42% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Chevron

In other news, VP Jeff B. Gustavson sold 3,750 shares of Chevron stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $160.23, for a total transaction of $600,862.50. Following the sale, the vice president now 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 can be accessed through the SEC website. In related news, VP Alana K. Knowles sold 2,800 shares of the firm’s stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $165.00, for a total transaction of $462,000.00. Following the transaction, the vice president now owns 276 shares of the company’s stock, valued at $45,540. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Jeff B. Gustavson sold 3,750 shares of Chevron stock in a transaction that occurred on Tuesday, May 21st. The shares were 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 approximately $76,429.71. The disclosure for this sale can be found here. Insiders have sold a total of 16,746 shares of company stock worth $2,727,971 over the last ninety days. Corporate insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CVX. The Goldman Sachs Group reiterated a “buy” rating on shares of Chevron in a research report on Monday, April 1st. TD Cowen increased their price objective on Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a research report on Monday, April 29th. UBS Group increased their price objective on Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a research report on Tuesday, April 9th. HSBC raised their price target on Chevron from $175.00 to $178.00 and gave the stock a “buy” rating in a research report on Tuesday, April 30th. Finally, Scotiabank lowered their price target on Chevron from $195.00 to $180.00 and set a “sector outperform” rating for the company in a research report on Friday. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $187.06.

Chevron Stock Up 0.2 %

Chevron stock traded up $0.33 during midday trading on Friday, reaching $155.59. The company’s stock had a trading volume of 6,446,316 shares, compared to its average volume of 6,742,573. Chevron Co. has a fifty-two week low of $139.62 and a fifty-two week high of $171.70. The company has a quick ratio of 0.93, a current ratio of 1.23 and a debt-to-equity ratio of 0.13. The company has a market cap of $286.75 billion, a P/E ratio of 14.32, a P/E/G ratio of 2.36 and a beta of 1.10. The business has a 50-day simple moving average of $157.75 and a 200-day simple moving average of $155.06.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, beating analysts’ consensus estimates of $2.84 by $0.09. Chevron had a return on equity of 14.40% and a net margin of 10.21%. The company had revenue of $48.72 billion for the quarter, compared to analysts’ expectations of $48.42 billion. During the same period last year, the firm earned $3.55 earnings per share. Chevron’s quarterly revenue was down 4.1% on a year-over-year basis. On average, research analysts expect that Chevron Co. will post 13.18 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 17th were paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 4.19%. The ex-dividend date of this dividend was Thursday, May 16th. Chevron’s dividend payout ratio is presently 59.98%.

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.