OMC Financial Services LTD Invests $1.09 Million in Chevron Corporation $CVX

Key Points

• OMC Financial Services purchased 6,583 Chevron shares worth approximately $1.09 million in the second quarter. Institutional investors collectively own 72.42% of Chevron’s stock.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $207.48; 20 analysts rate the stock a Buy.
• Chevron exceeded quarterly earnings and revenue expectations, reporting $6.06 in EPS and $67.20 billion in revenue, while declaring a quarterly dividend of $1.78 per share. Insiders have sold approximately $231.8 million of stock over the past 90 days.

OMC Financial Services LTD purchased a new position in shares of Chevron Corporation (NYSE:CVX - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 6,583 shares of the oil and gas company's stock, valued at approximately $1,091,000.

Several other institutional investors have also added to or reduced their stakes in CVX. Cornerstone Advisory LLC increased its position in Chevron by 0.9% during the 1st quarter. Cornerstone Advisory LLC now owns 5,625 shares of the oil and gas company's stock worth $1,164,000 after buying an additional 52 shares during the period. Compton Financial Group LLC grew its stake in shares of Chevron by 1.9% in the first quarter. Compton Financial Group LLC now owns 2,944 shares of the oil and gas company's stock valued at $609,000 after acquiring an additional 56 shares in the last quarter. Quantum Portfolio Management LLC increased its position in Chevron by 2.7% during the first quarter. Quantum Portfolio Management LLC now owns 2,101 shares of the oil and gas company's stock worth $435,000 after acquiring an additional 56 shares during the period. Wealthspire Retirement LLC increased its position in Chevron by 0.9% during the first quarter. Wealthspire Retirement LLC now owns 6,530 shares of the oil and gas company's stock worth $1,351,000 after acquiring an additional 56 shares during the period. Finally, D.B. Root & Company LLC raised its stake in Chevron by 1.0% in the 4th quarter. D.B. Root & Company LLC now owns 5,552 shares of the oil and gas company's stock worth $846,000 after purchasing an additional 57 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CVX has been the subject of a number of recent research reports. Zacks Research downgraded shares of Chevron from a "strong-buy" rating to a "hold" rating in a report on Monday, June 8th. Dbs Bank raised shares of Chevron to a "moderate buy" rating in a report on Thursday, August 6th. Jefferies Financial Group reiterated a "buy" rating and issued a $216.00 price target on shares of Chevron in a research report on Friday, July 10th. Morgan Stanley dropped their price target on shares of Chevron from $214.00 to $210.00 and set an "overweight" rating for the company in a research report on Monday, June 29th. Finally, UBS Group reiterated a "buy" rating on shares of Chevron in a research note on Tuesday, June 23rd. Twenty investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Chevron currently has a consensus rating of "Moderate Buy" and an average target price of $207.48.

Insider Buying and Selling at Chevron

In other news, CEO Michael K. Wirth sold 5,547 shares of the firm's stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $187.00, for a total value of $1,037,289.00. Following the sale, the chief executive officer directly owned 26,308 shares in the company, valued at approximately $4,919,596. This trade represents a 17.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John B. Hess sold 100,000 shares of Chevron stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $194.26, for a total transaction of $19,426,000.00. Following the sale, the director directly owned 178,045 shares in the company, valued at $34,587,021.70. This trade represents a 35.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 1,196,212 shares of company stock valued at $231,819,366. 0.56% of the stock is owned by corporate insiders.

Chevron Stock Performance

Shares of Chevron stock opened at $199.99 on Monday. The company has a current ratio of 1.25, a quick ratio of 0.98 and a debt-to-equity ratio of 0.19. The company has a market cap of $395.13 billion, a PE ratio of 19.17, a price-to-earnings-growth ratio of 0.61 and a beta of 0.49. The company has a 50 day moving average of $183.30 and a 200-day moving average of $187.01. Chevron Corporation has a 1-year low of $146.49 and a 1-year high of $214.71.

Chevron (NYSE:CVX - Get Free Report) last announced its quarterly earnings data on Friday, July 31st. The oil and gas company reported $6.06 EPS for the quarter, beating the consensus estimate of $5.55 by $0.51. Chevron had a net margin of 9.57% and a return on equity of 11.09%. The business had revenue of $67.20 billion during the quarter, compared to the consensus estimate of $62.72 billion. During the same period in the previous year, the business earned $1.77 earnings per share. The company's revenue was up 57.4% on a year-over-year basis. As a group, equities research analysts forecast that Chevron Corporation will post 15.86 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be issued a dividend of $1.78 per share. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.6%. Chevron's payout ratio is 68.26%.

About Chevron

Chevron Corporation NYSE: CVX is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron's core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.

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