Keynote Financial Services LLC Purchases New Stake in Chevron Co. (NYSE:CVX)

Keynote Financial Services LLC bought a new position in shares of Chevron Co. (NYSE:CVX) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 5,248 shares of the oil and gas company’s stock, valued at approximately $828,000.

Other institutional investors have also recently bought and sold shares of the company. American Capital Advisory LLC raised its stake in Chevron by 403.2% during the first quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 125 shares in the last quarter. Bare Financial Services Inc acquired a new position in Chevron during the fourth quarter worth about $27,000. Frank Rimerman Advisors LLC acquired a new position in shares of Chevron in the fourth quarter valued at approximately $30,000. Cooksen Wealth LLC acquired a new position in shares of Chevron in the fourth quarter valued at approximately $40,000. Finally, Clear Investment Research LLC increased its stake in shares of Chevron by 264.9% in the fourth 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 period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CVX. Sanford C. Bernstein downgraded Chevron from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $183.00 to $167.00 in a research note on Wednesday, July 17th. Truist Financial lowered their price objective on Chevron from $166.00 to $156.00 and set a “hold” rating for the company in a research note on Monday, July 22nd. Wolfe Research began coverage on Chevron in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. Piper Sandler upped their price objective on Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a research note on Thursday, April 18th. Finally, UBS Group upped their price objective on Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a research note on Tuesday, April 9th. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $185.59.

Insider Transactions at Chevron

In other news, VP Jeff B. Gustavson sold 3,750 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $160.23, for a total transaction of $600,862.50. Following the transaction, the vice president now directly owns 477 shares of the company’s stock, valued at $76,429.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Enrique Hernandez, Jr. sold 5,098 shares of the stock in a transaction on Monday, May 6th. The stock was sold at an average price of $163.50, for a total value of $833,523.00. Following the completion of the sale, the director now directly owns 2,549 shares of the company’s stock, valued at approximately $416,761.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Jeff B. Gustavson sold 3,750 shares of the stock in a transaction 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 of the company’s stock, valued at $76,429.71. The disclosure for this sale can be found here. Insiders have sold 11,397 shares of company stock valued at $1,855,582 over the last ninety days. 0.20% of the stock is owned by company insiders.

Chevron Trading Down 2.7 %

Shares of Chevron stock traded down $4.07 on Friday, reaching $148.55. 13,278,618 shares of the company’s stock were exchanged, compared to its average volume of 6,585,736. The company has a market capitalization of $273.77 billion, a P/E ratio of 13.67, a price-to-earnings-growth ratio of 2.45 and a beta of 1.10. Chevron Co. has a 52 week low of $139.62 and a 52 week high of $171.70. The firm’s 50-day moving average is $156.37 and its two-hundred day moving average is $156.00. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.93 and a current ratio of 1.23.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.88 by ($0.33). Chevron had a return on equity of 14.40% and a net margin of 10.21%. The business had revenue of $51.18 billion for the quarter, compared to the consensus estimate of $48.68 billion. During the same quarter in the previous year, the company posted $3.08 earnings per share. Chevron’s quarterly revenue was up 4.7% on a year-over-year basis. Sell-side analysts predict that Chevron Co. will post 12.45 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th will be given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.39%. The ex-dividend date of this dividend is Monday, August 19th. Chevron’s payout ratio is 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.