Meadow Creek Wealth Advisors LLC Reduces Holdings in Chevron Co. (NYSE:CVX)



Meadow Creek Wealth Advisors LLC cut its position in shares of Chevron Co. (NYSE:CVX – Get Rating) by 1.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,418 shares of the oil and gas company’s stock after selling 71 shares during the quarter. Chevron makes up about 0.8% of Meadow Creek Wealth Advisors LLC’s investment portfolio, making the stock its 26th largest position. Meadow Creek Wealth Advisors LLC’s holdings in Chevron were worth $719,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. LVM Capital Management Ltd. MI grew its position in Chevron by 5.6% during the 1st quarter. LVM Capital Management Ltd. MI now owns 23,668 shares of the oil and gas company’s stock worth $3,854,000 after acquiring an additional 1,250 shares during the last quarter. Baldwin Brothers LLC MA grew its position in Chevron by 4.7% during the 1st quarter. Baldwin Brothers LLC MA now owns 19,284 shares of the oil and gas company’s stock worth $3,140,000 after acquiring an additional 866 shares during the last quarter. Guinness Atkinson Asset Management Inc grew its position in Chevron by 26.4% during the 1st quarter. Guinness Atkinson Asset Management Inc now owns 6,346 shares of the oil and gas company’s stock worth $1,033,000 after acquiring an additional 1,326 shares during the last quarter. Guinness Asset Management LTD grew its position in Chevron by 31.6% during the 1st quarter. Guinness Asset Management LTD now owns 171,085 shares of the oil and gas company’s stock worth $28,094,000 after acquiring an additional 41,106 shares during the last quarter. Finally, Coastal Investment Advisors Inc. its position in Chevron grew by 26.6% during the 1st quarter. Coastal Investment Advisors Inc. now owns 14,020 shares of the oil and gas company’s stock worth $2,283,000 after acquiring an additional 2,947 shares during the last quarter. Institutional investors and hedge funds own 65.89% of the company’s stock.

Shares of NYSE:CVX opened at $144.77 on Friday. The stock has a fifty day simple moving average of $166.29 and a two-hundred day simple moving average of $149.82. The stock has a market capitalization of $284.45 billion, a price-to-earnings ratio of 13.61, a PEG ratio of 0.62 and a beta of 1.09. Chevron Co. has a 12-month low of $92.86 and a 12-month high of $182.40. The company has a current ratio of 1.43, a quick ratio of 1.22 and a debt-to-equity ratio of 0.20.

Chevron (NYSE:CVX – Get Rating) last announced its quarterly earnings data on Friday, April 29th. The oil and gas company reported $3.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.44 by ($0.08). The company had revenue of $54.37 billion for the quarter, compared to analysts’ expectations of $54.96 billion. Chevron had a net margin of 11.10% and a return on equity of 14.66%. The firm’s quarterly revenue was up 69.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.90 EPS. As a group, equities research analysts predict that Chevron Co. will post 17.5 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 10th. Shareholders of record on Thursday, May 19th were paid a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a yield of 3.92%. The ex-dividend date was Wednesday, May 18th. Chevron’s payout ratio is 53.38%.

In other Chevron news, Director Wanda M. Austin sold 12,039 shares of Chevron stock in a transaction on Friday, May 27th. The stock was sold at an average price of $177.29, for a total value of $2,134,394.31. Following the completion of the sale, the director now owns 3,543 shares of the company’s stock, valued at approximately $628,138.47. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Enrique Hernandez, Jr. sold 11,799 shares of Chevron stock in a transaction on Wednesday, May 25th. The stock was sold at an average price of $175.00, for a total value of $2,064,825.00. Following the completion of the sale, the director now directly owns 24,281 shares of the company’s stock, valued at approximately $4,249,175. The disclosure for this sale can be found here. In the last three months, insiders sold 561,726 shares of company stock valued at $94,057,396. Corporate insiders own 0.32% of the company’s stock.

Several equities analysts recently issued reports on CVX shares. StockNews.com started coverage on Chevron in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Morgan Stanley cut their objective price on Chevron from $188.00 to $185.00 and set an “equal weight” rating on the stock in a research report on Monday, June 6th. UBS Group lifted their objective price on Chevron from $150.00 to $192.00 and gave the stock a “buy” rating in a research report on Tuesday, April 5th. Cowen lifted their objective price on Chevron from $165.00 to $179.00 in a research report on Tuesday, June 7th. Finally, Societe Generale lowered Chevron from a “buy” rating to a “hold” rating and set a $175.00 objective price on the stock. in a research report on Friday, May 20th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $169.57.

Chevron Company Profile (Get Rating)

Chevron Corporation, through its subsidiaries, engages in integrated energy and chemicals operations worldwide. 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 associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)



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