Kooman & Associates Invests $254,000 in Chevron Co. (NYSE:CVX)

Posted by Defense World Staff on Apr 6th, 2023

Kooman & Associates bought a new position in Chevron Co. (NYSE:CVX – Get Rating) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,414 shares of the oil and gas company’s stock, valued at approximately $254,000.

Other hedge funds have also modified their holdings of the company. Good Life Advisors LLC raised its holdings in shares of Chevron by 2.6% in the 3rd quarter. Good Life Advisors LLC now owns 28,054 shares of the oil and gas company’s stock worth $4,031,000 after buying an additional 719 shares in the last quarter. M&R Capital Management Inc. increased its holdings in Chevron by 9.8% during 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 purchasing an additional 674 shares in the last quarter. Sage Mountain Advisors LLC increased its holdings in 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 purchasing an additional 2,632 shares in the last quarter. CapWealth Advisors LLC increased its holdings 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 valued at $24,959,000 after purchasing an additional 1,097 shares in the last quarter. Finally, Joel Isaacson & Co. LLC increased its holdings in Chevron by 0.8% during 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 owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, VP Rhonda J. Morris sold 19,666 shares of the firm’s stock in a transaction on Tuesday, February 7th. The stock was sold at an average price of $170.00, for a total transaction of $3,343,220.00. Following the sale, the vice president now owns 3,967 shares of the company’s stock, valued at approximately $674,390. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.32% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on CVX shares. Morgan Stanley dropped their price target on Chevron from $195.00 to $192.00 and set an “equal weight” rating for the company in a report on Monday, March 27th. Truist Financial raised their price target on Chevron from $169.00 to $179.00 and gave the company a “hold” rating in a report on Tuesday, January 31st. BNP Paribas raised Chevron from an “underperform” rating to a “neutral” rating and set a $200.00 price target for the company in a report on Tuesday. StockNews.com began coverage on Chevron in a report on Thursday, March 16th. They set a “hold” rating for the company. Finally, Bank of America lowered Chevron from a “buy” rating to a “neutral” rating and increased their price objective for the company from $190.00 to $191.00 in a research report on Friday, January 6th. Eleven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $189.76.

Chevron Stock Up 0.5 %

NYSE:CVX opened at $169.88 on Thursday. Chevron Co. has a 12-month low of $132.54 and a 12-month high of $189.68. The company has a quick ratio of 1.23, a current ratio of 1.47 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $323.91 billion, a P/E ratio of 9.29, a P/E/G ratio of 0.82 and a beta of 1.16. The stock’s fifty day simple moving average is $164.58 and its 200-day simple moving average is $169.67.

Chevron (NYSE:CVX – Get Rating) last posted its quarterly earnings results on Friday, January 27th. The oil and gas company reported $4.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.16 by ($0.07). Chevron had a return on equity of 23.52% and a net margin of 14.40%. The company had revenue of $56.47 billion during the quarter, compared to the consensus estimate of $53.97 billion. During the same quarter in the prior year, the business earned $2.56 earnings per share. The firm’s revenue for the quarter was up 17.1% on a year-over-year basis. Equities research analysts expect that Chevron Co. will post 14.56 earnings per share for the current year.

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

Chevron Increases Dividend

The firm 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 represents a $6.04 annualized dividend and a yield of 3.56%. The ex-dividend date of this dividend was Wednesday, February 15th. This is an increase from Chevron’s previous quarterly dividend of $1.42. Chevron’s dividend payout ratio (DPR) is presently 33.04%.

Chevron Company Profile

(Get Rating)

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.