Koss Olinger Consulting LLC Trims Holdings in Chevron Co. (NYSE:CVX)

Koss Olinger Consulting LLC reduced its position in shares of Chevron Co. (NYSE:CVXGet Rating) by 22.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,244 shares of the oil and gas company’s stock after selling 640 shares during the period. Koss Olinger Consulting LLC’s holdings in Chevron were worth $365,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in CVX. Secure Asset Management LLC increased its position in Chevron by 15.7% in the first quarter. Secure Asset Management LLC now owns 4,382 shares of the oil and gas company’s stock worth $713,000 after buying an additional 593 shares during the period. Guinness Atkinson Asset Management Inc boosted its stake in Chevron by 26.4% during the first quarter. Guinness Atkinson Asset Management Inc now owns 6,346 shares of the oil and gas company’s stock valued at $1,033,000 after buying an additional 1,326 shares in the last quarter. ACT Wealth Management LLC boosted its stake in Chevron by 3.0% during the first quarter. ACT Wealth Management LLC now owns 4,781 shares of the oil and gas company’s stock valued at $778,000 after buying an additional 140 shares in the last quarter. Verdence Capital Advisors LLC boosted its stake in Chevron by 4.9% during the first quarter. Verdence Capital Advisors LLC now owns 78,544 shares of the oil and gas company’s stock valued at $12,789,000 after buying an additional 3,681 shares in the last quarter. Finally, Smithbridge Asset Management Inc. DE boosted its stake in Chevron by 2.4% during the first quarter. Smithbridge Asset Management Inc. DE now owns 12,278 shares of the oil and gas company’s stock valued at $1,999,000 after buying an additional 290 shares in the last quarter. 65.89% of the stock is owned by institutional investors and hedge funds.

Chevron Stock Up 1.7 %

Shares of CVX stock opened at $153.64 on Friday. The stock’s 50 day simple moving average is $154.37 and its 200 day simple moving average is $155.35. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.22 and a current ratio of 1.43. Chevron Co. has a twelve month low of $92.86 and a twelve month high of $182.40. The company has a market capitalization of $301.87 billion, a price-to-earnings ratio of 10.25, a PEG ratio of 0.61 and a beta of 1.15.

Chevron (NYSE:CVXGet Rating) last issued its quarterly earnings data on Friday, July 29th. The oil and gas company reported $5.82 earnings per share for the quarter, beating analysts’ consensus estimates of $4.66 by $1.16. The business had revenue of $68.76 billion for the quarter, compared to the consensus estimate of $57.69 billion. Chevron had a return on equity of 20.19% and a net margin of 13.45%. The firm’s revenue was up 82.9% compared to the same quarter last year. During the same period last year, the business earned $1.71 EPS. As a group, research analysts predict that Chevron Co. will post 17.51 EPS for the current year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 12th. Shareholders of record on Friday, August 19th will be issued a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a yield of 3.70%. The ex-dividend date is Thursday, August 18th. Chevron’s dividend payout ratio (DPR) is currently 37.89%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on CVX shares. Cowen decreased their price target on Chevron from $179.00 to $160.00 and set an “outperform” rating for the company in a research report on Friday, July 1st. Cowen decreased their price objective on Chevron from $179.00 to $160.00 and set an “outperform” rating for the company in a research report on Friday, July 1st. Truist Financial decreased their price objective on Chevron from $170.00 to $166.00 and set a “hold” rating for the company in a research report on Tuesday, July 19th. Royal Bank of Canada lowered Chevron from an “outperform” rating to a “sector perform” rating and raised their price objective for the stock from $160.00 to $165.00 in a research report on Thursday, April 21st. Finally, Bank of America raised their price objective on Chevron from $178.00 to $180.00 and gave the stock a “buy” rating in a research report on Monday, August 1st. One analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, Chevron currently has a consensus rating of “Moderate Buy” and an average target price of $173.00.

Insider Buying and Selling at Chevron

In other Chevron news, Director Wanda M. Austin sold 11,432 shares of the firm’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $161.45, for a total value of $1,845,696.40. Following the sale, the director now owns 3,560 shares of the company’s stock, valued at approximately $574,762. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Wanda M. Austin sold 11,432 shares of Chevron stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $161.45, for a total transaction of $1,845,696.40. Following the sale, the director now owns 3,560 shares of the company’s stock, valued at approximately $574,762. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Wanda M. Austin sold 12,039 shares of Chevron stock in a transaction that occurred 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 sale, the director now directly owns 3,543 shares in the company, valued at approximately $628,138.47. The disclosure for this sale can be found here. Insiders have sold 399,043 shares of company stock valued at $67,010,843 in the last 90 days. 0.32% of the stock is currently owned by insiders.

Chevron Profile

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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.

See Also

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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