Meiji Yasuda Life Insurance Co Has $1.85 Million Holdings in Chevron Co. (NYSE:CVX)

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

A number of other hedge funds have also made changes to their positions in CVX. American Capital Advisory LLC increased its holdings in shares of Chevron by 403.2% during the 1st quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock valued at $25,000 after acquiring an additional 125 shares during the last quarter. Frank Rimerman Advisors LLC acquired a new stake in Chevron in the 4th quarter valued at approximately $30,000. Anfield Capital Management LLC grew its holdings in Chevron by 118.0% in the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock valued at $34,000 after buying an additional 118 shares during the last quarter. Cooksen Wealth LLC acquired a new stake in Chevron in the 4th quarter valued at approximately $40,000. Finally, Clear Investment Research LLC grew its holdings in Chevron by 264.9% in the 4th quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock valued at $42,000 after buying an additional 204 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CVX. Scotiabank lowered their target price on Chevron from $195.00 to $180.00 and set a “sector outperform” rating on the stock in a report on Friday, July 12th. Mizuho lowered their target price on Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a report on Monday. Barclays lowered their target price on Chevron from $203.00 to $185.00 and set an “overweight” rating on the stock in a report on Tuesday, August 6th. Royal Bank of Canada reduced their price objective on Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a research report on Monday, August 5th. Finally, Truist Financial reduced their price objective on Chevron from $156.00 to $154.00 and set a “hold” rating for the company in a research report on Monday, August 5th. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $182.88.

Chevron Price Performance

Chevron stock opened at $143.46 on Wednesday. The business has a 50 day simple moving average of $148.69 and a 200 day simple moving average of $154.61. Chevron Co. has a one year low of $135.37 and a one year high of $171.70. The company has a market capitalization of $262.38 billion, a PE ratio of 13.20, a price-to-earnings-growth ratio of 2.41 and a beta of 1.09. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). Chevron had a net margin of 9.31% and a return on equity of 13.70%. The business had revenue of $51.18 billion for the quarter, compared to analyst estimates of $48.68 billion. During the same period in the prior year, the business earned $3.08 earnings per share. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, sell-side analysts forecast that Chevron Co. will post 11.57 EPS for the current fiscal year.

Chevron Announces Dividend

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

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.