Coordinated Financial Services Inc. Invests $344,000 in Chevron Co. (NYSE:CVX)

Coordinated Financial Services Inc. purchased a new position in Chevron Co. (NYSE:CVX) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 2,375 shares of the oil and gas company’s stock, valued at approximately $344,000.

Other large investors have also recently made changes to their positions in the company. Legacy Investment Solutions LLC bought a new position in shares of Chevron in the 3rd quarter worth $29,000. Darwin Wealth Management LLC bought a new position in shares of Chevron in the 3rd quarter worth $30,000. RPg Family Wealth Advisory LLC bought a new position in shares of Chevron in the 3rd quarter worth $31,000. New Wave Wealth Advisors LLC bought a new position in shares of Chevron in the 4th quarter worth $39,000. Finally, Newton One Investments LLC bought a new position in shares of Chevron in the 4th quarter worth $46,000. 72.42% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Royal Bank of Canada reissued an “outperform” rating and issued a $175.00 price target on shares of Chevron in a research report on Monday, February 3rd. Truist Financial dropped their target price on Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a research note on Tuesday, February 4th. Piper Sandler dropped their target price on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Barclays dropped their target price on Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 5th. Finally, UBS Group dropped their target price on Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $174.13.

Insider Buying and Selling

In related news, VP Jeff B. Gustavson sold 9,325 shares of the company’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $152.50, for a total value of $1,422,062.50. Following the completion of the transaction, the vice president now owns 1,057 shares of the company’s stock, valued at approximately $161,192.50. This represents a 89.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.20% of the stock is currently owned by insiders.

Chevron Stock Performance

Shares of CVX stock opened at $156.48 on Friday. The stock has a market cap of $275.51 billion, a PE ratio of 16.10, a price-to-earnings-growth ratio of 1.46 and a beta of 1.08. The business has a 50-day simple moving average of $154.08 and a 200-day simple moving average of $151.73. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $167.11.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a net margin of 8.71% and a return on equity of 11.44%. During the same period last year, the firm posted $3.45 earnings per share. On average, equities analysts expect that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be issued a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.37%. The ex-dividend date is Friday, February 14th. This is a boost from Chevron’s previous quarterly dividend of $1.63. Chevron’s payout ratio is 70.37%.

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.