Coordinated Financial Services Inc. Invests $347,000 in Chevron Corporation $CVX

Key Points

• Coordinated Financial Services Inc. has invested $347,000 in Chevron Corporation, acquiring 2,422 shares of the company in the second quarter.
• Chevron reported a quarterly earnings per share (EPS) of $1.77, exceeding the consensus estimate by $0.19, despite a 12.4% year-over-year revenue decline.
• Chevron recently announced a quarterly dividend of $1.71 per share, reflecting an annualized dividend yield of 4.5% and a payout ratio of 88.03%.

Coordinated Financial Services Inc. acquired a new position in shares of Chevron Corporation (NYSE:CVX - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 2,422 shares of the oil and gas company's stock, valued at approximately $347,000.

Other institutional investors have also modified their holdings of the company. Harvest Fund Management Co. Ltd lifted its position in shares of Chevron by 420.7% during the 1st quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company's stock worth $25,000 after buying an additional 122 shares during the last quarter. Elequin Capital LP purchased a new stake in Chevron in the 1st quarter valued at $31,000. Cloud Capital Management LLC purchased a new stake in Chevron in the 1st quarter valued at $39,000. Investment Management Corp VA ADV raised its position in Chevron by 171.3% in the 1st quarter. Investment Management Corp VA ADV now owns 236 shares of the oil and gas company's stock valued at $39,000 after purchasing an additional 149 shares during the last quarter. Finally, GFG Capital LLC purchased a new stake in Chevron in the 2nd quarter valued at $42,000. Hedge funds and other institutional investors own 72.42% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. TD Cowen upped their price target on shares of Chevron from $150.00 to $155.00 and gave the company a "hold" rating in a research report on Monday, August 4th. Scotiabank boosted their price objective on shares of Chevron from $160.00 to $165.00 and gave the company a "sector perform" rating in a research note on Thursday. Jefferies Financial Group reissued a "buy" rating on shares of Chevron in a research note on Friday, July 18th. Melius Research initiated coverage on shares of Chevron in a research note on Wednesday, August 20th. They issued a "hold" rating and a $155.00 price objective on the stock. Finally, Piper Sandler boosted their price objective on shares of Chevron from $164.00 to $168.00 and gave the company an "overweight" rating in a research note on Monday, August 18th. Eleven equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Chevron has an average rating of "Hold" and an average price target of $165.40.

Chevron Price Performance

Chevron stock opened at $151.63 on Friday. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $168.96. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16. The firm's 50-day simple moving average is $156.15 and its 200 day simple moving average is $148.79. The firm has a market capitalization of $262.02 billion, a PE ratio of 19.51, a P/E/G ratio of 1.98 and a beta of 0.84.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, topping 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 business had revenue of $44.82 billion for the quarter, compared to analyst estimates of $44.59 billion. During the same period in the previous year, the firm earned $2.55 EPS. The business's revenue for the quarter was down 12.4% compared to the same quarter last year. On average, equities research analysts predict that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th were given a $1.71 dividend. The ex-dividend date was Tuesday, August 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.5%. Chevron's payout ratio is currently 88.03%.

Insider Activity

In related news, VP Alana K. Knowles sold 3,978 shares of the business's stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $160.00, for a total value of $636,480.00. Following the sale, the vice president directly owned 1,181 shares in the company, valued at $188,960. The trade was a 77.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John B. Hess sold 375,000 shares of the business's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $158.30, for a total transaction of $59,362,500.00. Following the completion of the sale, the director owned 1,403,045 shares in the company, valued at $222,102,023.50. This represents a 21.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.21% of the stock is owned by insiders.

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.

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