Kooman & Associates Increases Stake in Chevron Co. (NYSE:CVX)

Kooman & Associates grew its holdings in Chevron Co. (NYSE:CVX) by 28.1% in the second quarter, Holdings Channel reports. The institutional investor owned 2,431 shares of the oil and gas company’s stock after acquiring an additional 534 shares during the quarter. Kooman & Associates’ holdings in Chevron were worth $380,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. American Capital Advisory LLC boosted its position in shares of Chevron by 403.2% in the 1st quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 125 shares during the period. Frank Rimerman Advisors LLC acquired a new stake in shares of Chevron during the fourth quarter worth $30,000. Anfield Capital Management LLC boosted its holdings in shares of Chevron by 118.0% during the second quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock worth $34,000 after purchasing an additional 118 shares during the last quarter. Cooksen Wealth LLC acquired a new position in Chevron in the fourth quarter valued at $40,000. Finally, Clear Investment Research LLC boosted its holdings in 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 acquiring an additional 204 shares during the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Price Performance

Shares of CVX stock opened at $143.46 on Wednesday. The stock has a market cap of $262.38 billion, a price-to-earnings ratio of 13.20, a PEG ratio of 2.41 and a beta of 1.09. The business’s fifty day moving average is $148.69 and its 200 day moving average is $154.61. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $171.70. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13.

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

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were paid a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 4.54%. The ex-dividend date of this dividend was Monday, August 19th. Chevron’s dividend payout ratio (DPR) is currently 59.98%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Truist Financial dropped their target price on Chevron from $156.00 to $154.00 and set a “hold” rating on the stock in a research report on Monday, August 5th. Scotiabank dropped their price objective on Chevron from $195.00 to $180.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 12th. Barclays lowered their price objective on shares of Chevron from $203.00 to $185.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 6th. Sanford C. Bernstein cut shares of Chevron from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $183.00 to $167.00 in a report on Wednesday, July 17th. Finally, Royal Bank of Canada decreased their price target on shares of Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a report on Monday, August 5th. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $182.88.

Chevron Company 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.