Merrion Investment Management Co LLC Has $1.01 Million Stock Holdings in Chevron Co. (NYSE:CVX)

Merrion Investment Management Co LLC grew its position in Chevron Co. (NYSE:CVX) by 3.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,771 shares of the oil and gas company’s stock after purchasing an additional 200 shares during the period. Chevron comprises approximately 0.8% of Merrion Investment Management Co LLC’s holdings, making the stock its 29th biggest holding. Merrion Investment Management Co LLC’s holdings in Chevron were worth $1,010,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in CVX. Moneta Group Investment Advisors LLC boosted its stake in shares of Chevron by 104,997.3% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 24,490,824 shares of the oil and gas company’s stock valued at $4,395,858,000 after purchasing an additional 24,467,521 shares in the last quarter. Norges Bank bought a new position in shares of Chevron in the fourth quarter valued at about $3,058,235,000. Imprint Wealth LLC raised its holdings in shares of Chevron by 15,457.0% in the second quarter. Imprint Wealth LLC now owns 5,378,354 shares of the oil and gas company’s stock valued at $537,835,000 after buying an additional 5,343,782 shares during the last quarter. Morgan Stanley raised its holdings in shares of Chevron by 12.7% in the fourth quarter. Morgan Stanley now owns 32,906,060 shares of the oil and gas company’s stock valued at $5,906,309,000 after buying an additional 3,711,923 shares during the last quarter. Finally, Lazard Asset Management LLC raised its holdings in shares of Chevron by 570.0% in the fourth quarter. Lazard Asset Management LLC now owns 2,813,051 shares of the oil and gas company’s stock valued at $504,913,000 after buying an additional 2,393,200 shares during the last quarter. Institutional investors and hedge funds own 68.87% of the company’s stock.

Chevron Trading Down 0.1 %

Shares of CVX stock traded down $0.22 on Friday, reaching $154.64. The company had a trading volume of 5,973,739 shares, compared to its average volume of 8,894,688. The company has a current ratio of 1.27, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. The stock has a market cap of $287.21 billion, a PE ratio of 13.60, a PEG ratio of 2.37 and a beta of 1.12. The company has a 50-day moving average of $150.77 and a 200-day moving average of $153.06. Chevron Co. has a 12 month low of $139.62 and a 12 month high of $172.88.

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

Chevron Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Friday, February 16th were given a $1.63 dividend. The ex-dividend date of this dividend was Thursday, February 15th. This is a positive change from Chevron’s previous quarterly dividend of $1.51. This represents a $6.52 annualized dividend and a dividend yield of 4.22%. Chevron’s payout ratio is currently 57.39%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on CVX shares. TD Cowen cut Chevron from an “outperform” rating to a “market perform” rating and cut their price target for the company from $170.00 to $150.00 in a report on Tuesday, January 23rd. Piper Sandler cut their price target on Chevron from $188.00 to $180.00 and set an “overweight” rating for the company in a report on Thursday, March 14th. DZ Bank cut Chevron from a “buy” rating to a “hold” rating and set a $160.00 price objective for the company. in a report on Tuesday, February 6th. Scotiabank cut Chevron from a “sector outperform” rating to a “sector perform” rating and set a $170.00 price objective for the company. in a report on Tuesday, January 16th. Finally, Mizuho boosted their price objective on Chevron from $195.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday. Seven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price 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; liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and processing, transportation, storage, and marketing of natural gas, as well as a gas-to-liquids plant.