Cooper Financial Group Boosts Stock Holdings in Chevron Co. (NYSE:CVX)

Posted by Defense World Staff on Mar 23rd, 2023

Cooper Financial Group grew its stake in shares of Chevron Co. (NYSE:CVX – Get Rating) by 9.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 10,491 shares of the oil and gas company’s stock after buying an additional 875 shares during the period. Cooper Financial Group’s holdings in Chevron were worth $1,883,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Good Life Advisors LLC raised its holdings in Chevron by 2.6% in the third quarter. Good Life Advisors LLC now owns 28,054 shares of the oil and gas company’s stock valued at $4,031,000 after buying an additional 719 shares during the period. M&R Capital Management Inc. raised its stake in shares of Chevron by 9.8% in the 4th quarter. M&R Capital Management Inc. now owns 7,580 shares of the oil and gas company’s stock valued at $1,361,000 after acquiring an additional 674 shares during the period. Sage Mountain Advisors LLC lifted its holdings in shares of Chevron by 77.1% during the 2nd quarter. Sage Mountain Advisors LLC now owns 6,046 shares of the oil and gas company’s stock valued at $875,000 after acquiring an additional 2,632 shares in the last quarter. CapWealth Advisors LLC boosted its position in Chevron by 0.6% during the 3rd quarter. CapWealth Advisors LLC now owns 173,721 shares of the oil and gas company’s stock worth $24,959,000 after purchasing an additional 1,097 shares during the period. Finally, Joel Isaacson & Co. LLC increased its holdings in Chevron by 0.8% in the 3rd quarter. Joel Isaacson & Co. LLC now owns 18,710 shares of the oil and gas company’s stock valued at $2,688,000 after purchasing an additional 155 shares in the last quarter. 69.37% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, VP Rhonda J. Morris sold 19,666 shares of the business’s stock in a transaction on Tuesday, February 7th. The shares were sold at an average price of $170.00, for a total transaction of $3,343,220.00. Following the completion of the transaction, the vice president now owns 3,967 shares of the company’s stock, valued at $674,390. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.32% of the stock is owned by corporate insiders.

Chevron Trading Down 2.0 %

NYSE CVX opened at $156.07 on Thursday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.23 and a current ratio of 1.47. Chevron Co. has a one year low of $132.54 and a one year high of $189.68. The company has a 50-day simple moving average of $167.93 and a 200-day simple moving average of $169.43. The firm has a market capitalization of $297.57 billion, a PE ratio of 8.54, a price-to-earnings-growth ratio of 0.74 and a beta of 1.16.

Chevron (NYSE:CVX – Get Rating) last issued its earnings results on Friday, January 27th. The oil and gas company reported $4.09 EPS for the quarter, missing analysts’ consensus estimates of $4.16 by ($0.07). The company had revenue of $56.47 billion during the quarter, compared to analyst estimates of $53.97 billion. Chevron had a net margin of 14.40% and a return on equity of 23.52%. The business’s revenue was up 17.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.56 earnings per share. On average, equities analysts forecast that Chevron Co. will post 14.73 earnings per share for the current year.

Chevron declared that its board has initiated a share repurchase plan on Wednesday, January 25th that permits the company to buyback $75.00 billion in shares. This buyback authorization permits the oil and gas company to purchase up to 21.7% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 10th. Investors of record on Thursday, February 16th were paid a dividend of $1.51 per share. This is an increase from Chevron’s previous quarterly dividend of $1.42. This represents a $6.04 dividend on an annualized basis and a yield of 3.87%. The ex-dividend date of this dividend was Wednesday, February 15th. Chevron’s dividend payout ratio is presently 33.04%.

Analyst Upgrades and Downgrades

CVX has been the topic of a number of recent research reports. Bank of America downgraded Chevron from a “buy” rating to a “neutral” rating and upped their target price for the stock from $190.00 to $191.00 in a research report on Friday, January 6th. Cowen decreased their price target on Chevron from $185.00 to $170.00 and set an “outperform” rating for the company in a report on Friday, February 24th. HSBC lifted their price objective on shares of Chevron to $187.00 in a research note on Friday, December 2nd. Morgan Stanley decreased their target price on shares of Chevron from $197.00 to $195.00 and set an “equal weight” rating for the company in a research note on Monday, January 30th. Finally, StockNews.com started coverage on shares of Chevron in a research note on Thursday, March 16th. They set a “hold” rating on the stock. One analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $189.50.

Chevron Company Profile

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Chevron Corp. engages in the provision of administrative, financial management, and technology support for energy and chemical operations. It operates through the Upstream and Downstream segments. The Upstream segment consists of the exploration, development, and production of crude oil and natural gas, the liquefaction, transportation, and regasification associated with liquefied natural gas, the transporting of crude oil by major international oil export pipelines, the processing, transporting, storage, and marketing of natural gas, and a gas-to-liquids plant.