2,380 Shares in Chevron Corporation $CVX Bought by Coordinated Financial Services Inc. CO

Key Points

• Coordinated Financial Services Inc. acquired 2,380 shares of Chevron Corporation, valued at approximately $398,000, indicating increased institutional interest in the company.
• Certain hedge funds raised their stakes in Chevron, notably Charles Schwab Investment Management and Invesco Ltd., contributing to institutional investors holding 72.42% of the total company stock.
• Chevron reported earnings of $1.77 per share for the recent quarter, exceeding analyst expectations, despite a 12.4% decline in revenue year-over-year.

Coordinated Financial Services Inc. CO acquired a new stake in Chevron Corporation (NYSE:CVX - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 2,380 shares of the oil and gas company's stock, valued at approximately $398,000.

Several other institutional investors and hedge funds have also made changes to their positions in CVX. Harvest Fund Management Co. Ltd lifted its stake in Chevron by 420.7% during the first quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company's stock valued at $25,000 after purchasing an additional 122 shares during the last quarter. 10Elms LLP acquired a new stake in Chevron during the fourth quarter valued at approximately $29,000. Elequin Capital LP acquired a new stake in Chevron during the first quarter valued at approximately $31,000. IFS Advisors LLC lifted its stake in Chevron by 119.6% during the first quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company's stock valued at $36,000 after purchasing an additional 116 shares during the last quarter. Finally, Cloud Capital Management LLC acquired a new stake in Chevron during the first quarter valued at approximately $39,000. 72.42% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on CVX shares. HSBC downgraded shares of Chevron from a "buy" rating to a "hold" rating and reduced their price target for the company from $176.00 to $158.00 in a research report on Tuesday, May 13th. Hsbc Global Res lowered shares of Chevron from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Jefferies Financial Group reaffirmed a "buy" rating on shares of Chevron in a report on Friday, July 18th. Melius initiated coverage on shares of Chevron in a report on Wednesday, August 20th. They set a "hold" rating and a $155.00 price objective for the company. Finally, Raymond James Financial reaffirmed an "outperform" rating on shares of Chevron in a report on Friday, August 1st. Eleven equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $163.95.

Insider Buying and Selling

In related news, VP Alana K. Knowles sold 3,978 shares of the business's stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $160.00, for a total transaction of $636,480.00. Following the completion of the transaction, the vice president owned 1,181 shares in the company, valued at approximately $188,960. The trade was a 77.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John B. Hess sold 375,000 shares of the business's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $158.30, for a total transaction of $59,362,500.00. Following the transaction, the director owned 1,403,045 shares of the company's stock, valued at approximately $222,102,023.50. This represents a 21.09% decrease in their position. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by company insiders.

Chevron Price Performance

CVX traded up $0.64 during midday trading on Tuesday, hitting $154.64. The company had a trading volume of 7,765,594 shares, compared to its average volume of 7,902,908. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00. The company has a market capitalization of $267.22 billion, a PE ratio of 19.90, a P/E/G ratio of 2.28 and a beta of 0.90. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96. The firm's 50-day simple moving average is $153.91 and its 200-day simple moving average is $148.78.

Chevron (NYSE:CVX - Get Free Report) last posted its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.19. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The firm had revenue of $44.82 billion during the quarter, compared to analysts' expectations of $44.59 billion. During the same quarter last year, the company posted $2.55 EPS. The company's quarterly revenue was down 12.4% compared to the same quarter last year. Equities research analysts predict that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th will be paid a $1.71 dividend. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $6.84 dividend on an annualized basis and a yield of 4.4%. Chevron's dividend payout ratio (DPR) is presently 88.03%.

About Chevron

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.