OMC Financial Services LTD Buys New Position in Chevron Co. (NYSE:CVX)

OMC Financial Services LTD purchased a new position in shares of Chevron Co. (NYSE:CVX) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 7,307 shares of the oil and gas company’s stock, valued at approximately $1,153,000. Chevron accounts for approximately 0.6% of OMC Financial Services LTD’s holdings, making the stock its 29th largest holding.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. American Capital Advisory LLC lifted its holdings in shares of 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 purchasing an additional 125 shares during the period. Bare Financial Services Inc purchased a new stake in shares of Chevron in the fourth quarter valued at about $27,000. Frank Rimerman Advisors LLC acquired a new position in shares of Chevron during the fourth quarter worth about $30,000. Cooksen Wealth LLC purchased a new position in Chevron during the fourth quarter worth about $40,000. Finally, Clear Investment Research LLC boosted 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 purchasing an additional 204 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

Shares of CVX traded down $4.07 during mid-day trading on Friday, hitting $148.55. The stock had a trading volume of 13,278,618 shares, compared to its average volume of 6,585,736. 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 $273.77 billion, a PE ratio of 13.67, a PEG ratio of 2.45 and a beta of 1.10. The company’s fifty day simple moving average is $156.37 and its two-hundred day simple moving average is $155.92.

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

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 19th will be issued a $1.63 dividend. The ex-dividend date of this dividend is Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.39%. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

Wall Street Analyst Weigh In

CVX has been the subject of a number of research reports. Truist Financial reduced their price target on shares of Chevron from $166.00 to $156.00 and set a “hold” rating for the company in a research report on Monday, July 22nd. Barclays assumed coverage on Chevron in a research report on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 price target for the company. Scotiabank lowered their price objective on shares of Chevron from $195.00 to $180.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 12th. HSBC raised their target price on shares of Chevron from $175.00 to $178.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. Finally, UBS Group increased their price target on shares of Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a research report on Tuesday, April 9th. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $185.59.

Insider Activity at Chevron

In other news, Director Enrique Hernandez, Jr. sold 2,549 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $165.24, for a total transaction of $421,196.76. Following the completion of the transaction, the director now directly owns 27,725 shares in the company, valued at $4,581,279. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Chevron 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 transaction of $833,523.00. Following the completion of the transaction, the director now directly owns 2,549 shares of the company’s stock, valued at approximately $416,761.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Enrique Hernandez, Jr. sold 2,549 shares of the company’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $165.24, for a total value of $421,196.76. Following the completion of the sale, the director now owns 27,725 shares of the company’s stock, valued at approximately $4,581,279. The disclosure for this sale can be found here. Insiders have sold a total of 11,397 shares of company stock worth $1,855,582 in the last ninety days. 0.20% of the stock is owned by insiders.

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.