2,940 Shares in Chevron Corporation (NYSE:CVX) Purchased by Koss Olinger Consulting LLC

Key Points

• Koss Olinger Consulting LLC has acquired a new stake in Chevron, purchasing 2,940 shares valued at approximately $492,000 in the first quarter.
• Chevron has a current market capitalization of $270.66 billion and reported earnings of $1.77 per share for its last quarter, surpassing analysts' expectations of $1.58.
• The company announced a quarterly dividend of $1.71, yielding 4.4%, with a scheduled payment date of September 10th.

Koss Olinger Consulting LLC acquired a new stake in Chevron Corporation (NYSE:CVX - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 2,940 shares of the oil and gas company's stock, valued at approximately $492,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. CoreCap Advisors LLC boosted its stake in shares of Chevron by 0.3% in the 4th quarter. CoreCap Advisors LLC now owns 28,248 shares of the oil and gas company's stock valued at $4,091,000 after purchasing an additional 71 shares during the last quarter. Clayton Financial Group LLC raised its holdings in Chevron by 4.6% during the 1st quarter. Clayton Financial Group LLC now owns 1,702 shares of the oil and gas company's stock worth $285,000 after buying an additional 75 shares during the period. Gill Capital Partners LLC raised its holdings in Chevron by 4.9% during the 1st quarter. Gill Capital Partners LLC now owns 1,619 shares of the oil and gas company's stock worth $271,000 after buying an additional 75 shares during the period. Cordatus Wealth Management LLC raised its holdings in Chevron by 0.4% during the 1st quarter. Cordatus Wealth Management LLC now owns 19,723 shares of the oil and gas company's stock worth $3,299,000 after buying an additional 76 shares during the period. Finally, Requisite Capital Management LLC lifted its position in shares of Chevron by 1.2% in the first quarter. Requisite Capital Management LLC now owns 6,362 shares of the oil and gas company's stock worth $1,064,000 after purchasing an additional 77 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Barclays reissued an "equal weight" rating on shares of Chevron in a research report on Tuesday, July 15th. UBS Group boosted their target price on shares of Chevron from $177.00 to $186.00 and gave the stock a "buy" rating in a report on Monday, August 4th. Jefferies Financial Group restated a "buy" rating on shares of Chevron in a report on Friday, July 18th. TD Cowen boosted their target price on shares of Chevron from $150.00 to $155.00 and gave the stock a "hold" rating in a report on Monday, August 4th. Finally, HSBC downgraded shares of Chevron from a "buy" rating to a "hold" rating and lowered their target price for the stock from $176.00 to $158.00 in a report on Tuesday, May 13th. Three analysts have rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $164.11.

Chevron Trading Up 1.2%

Shares of Chevron stock opened at $154.98 on Friday. The firm has a 50-day moving average of $148.45 and a 200-day moving average of $148.58. The stock has a market cap of $270.66 billion, a PE ratio of 19.95, a PEG ratio of 2.32 and a beta of 0.87. Chevron Corporation has a 52-week low of $132.04 and a 52-week high of $168.96. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.82 and a current ratio of 1.08.

Chevron (NYSE:CVX - Get Free Report) last announced its earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.58 by $0.19. The company had revenue of $44.82 billion during the quarter, compared to analysts' expectations of $44.59 billion. Chevron had a net margin of 7.02% and a return on equity of 9.80%. Chevron's quarterly revenue was down 12.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.55 earnings per share. As a group, sell-side analysts forecast that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Dividend Announcement

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

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.

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