Keynote Financial Services LLC Purchases New Shares in Chevron Co. (NYSE:CVX)

Keynote Financial Services LLC purchased a new stake in shares of Chevron Co. (NYSE:CVX) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 5,248 shares of the oil and gas company’s stock, valued at approximately $828,000.

Other large investors have also added to or reduced their stakes in the company. American Capital Advisory LLC grew its holdings in Chevron by 403.2% during the 1st quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 125 shares in the last quarter. Bare Financial Services Inc acquired a new position in Chevron during the 4th quarter worth $27,000. Frank Rimerman Advisors LLC acquired a new position in Chevron during the 4th quarter worth $30,000. Cooksen Wealth LLC acquired a new position in Chevron during the 4th quarter worth $40,000. Finally, Clear Investment Research LLC grew its holdings in Chevron by 264.9% during the 4th quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock worth $42,000 after acquiring an additional 204 shares in the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Trading Down 2.7 %

Shares of Chevron stock traded down $4.07 during trading on Friday, hitting $148.55. The stock had a trading volume of 13,278,618 shares, compared to its average volume of 6,585,736. The stock has a 50 day simple moving average of $156.37 and a 200 day simple moving average of $156.00. The company has a market capitalization of $273.77 billion, a PE ratio of 13.67, a P/E/G ratio of 2.45 and a beta of 1.10. The company has a quick ratio of 0.93, a current ratio of 1.23 and a debt-to-equity ratio of 0.13. Chevron Co. has a 1 year low of $139.62 and a 1 year high of $171.70.

Chevron (NYSE:CVX) last released its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing the consensus estimate of $2.88 by ($0.33). The firm had revenue of $51.18 billion during the quarter, compared to analysts’ expectations of $48.68 billion. Chevron had a return on equity of 14.40% and a net margin of 10.21%. The business’s revenue was up 4.7% on a year-over-year basis. During the same period last year, the business earned $3.08 earnings per share. On average, research analysts expect that Chevron Co. will post 12.45 EPS for the current fiscal year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 19th will be issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 4.39%. The ex-dividend date of this dividend is Monday, August 19th. Chevron’s dividend payout ratio is currently 59.98%.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. HSBC raised their price objective on shares of Chevron from $175.00 to $178.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. Wells Fargo & Company raised their price target on shares of Chevron from $198.00 to $206.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 30th. Barclays assumed coverage on shares of Chevron in a research report on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 price target on the stock. UBS Group raised their price target on shares of Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a research report on Tuesday, April 9th. Finally, Scotiabank reduced their price target on shares of Chevron from $195.00 to $180.00 and set a “sector outperform” rating on the stock in a research report on Friday, July 12th. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, Chevron has a consensus rating of “Moderate Buy” and a consensus target price of $185.59.

Insider Buying and Selling

In related news, VP Jeff B. Gustavson sold 3,750 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $160.23, for a total transaction of $600,862.50. Following the completion of the sale, the vice president now directly owns 477 shares in the company, valued at $76,429.71. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, VP Jeff B. Gustavson sold 3,750 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $160.23, for a total transaction of $600,862.50. Following the completion of the sale, the vice president now directly owns 477 shares in the company, valued at $76,429.71. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Enrique Hernandez, Jr. sold 5,098 shares of Chevron stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $163.50, for a total transaction of $833,523.00. Following the completion of the sale, the director now owns 2,549 shares of the company’s stock, valued at $416,761.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 11,397 shares of company stock worth $1,855,582. 0.20% of the stock is owned by company insiders.

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.