Koshinski Asset Management Inc. Sells 931 Shares of Chevron Co. (NYSE:CVX)

Koshinski Asset Management Inc. lessened its position in Chevron Co. (NYSE:CVX) by 3.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 26,726 shares of the oil and gas company’s stock after selling 931 shares during the quarter. Koshinski Asset Management Inc.’s holdings in Chevron were worth $3,936,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Taylor Financial Group Inc. purchased a new stake in shares of Chevron during the fourth quarter worth about $201,000. Clarity Capital Partners LLC bought a new position in Chevron in the fourth quarter worth about $203,000. Novak & Powell Financial Services Inc. bought a new position in shares of Chevron during the fourth quarter valued at approximately $387,000. American Trust increased its stake in shares of Chevron by 35.8% during the fourth quarter. American Trust now owns 4,202 shares of the oil and gas company’s stock valued at $627,000 after purchasing an additional 1,107 shares in the last quarter. Finally, Garde Capital Inc. increased its stake in shares of Chevron by 59.3% during the fourth quarter. Garde Capital Inc. now owns 1,693 shares of the oil and gas company’s stock valued at $253,000 after purchasing an additional 630 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Chevron Price Performance

Shares of NYSE CVX traded up $0.80 during trading on Friday, hitting $151.42. 5,051,314 shares of the company were exchanged, compared to its average volume of 7,765,251. The company has a market cap of $276.94 billion, a price-to-earnings ratio of 14.99, a PEG ratio of 2.70 and a beta of 1.09. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $170.17. The firm’s fifty day moving average price is $145.46 and its 200 day moving average price is $153.95. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85.

Chevron (NYSE:CVX) last released its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). Chevron had a net margin of 9.31% and a return on equity of 13.70%. The firm had revenue of $51.18 billion during the quarter, compared to analysts’ expectations of $48.68 billion. During the same quarter last year, the company posted $3.08 earnings per share. Chevron’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, sell-side analysts expect that Chevron Co. will post 11.09 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were paid a dividend of $1.63 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.31%. Chevron’s dividend payout ratio is currently 64.55%.

Wall Street Analyst Weigh In

CVX has been the subject of a number of analyst reports. Barclays decreased their target price on shares of Chevron from $185.00 to $168.00 and set an “overweight” rating for the company in a research note on Thursday, October 3rd. Truist Financial reduced their price target on shares of Chevron from $154.00 to $150.00 and set a “hold” rating for the company in a research report on Monday, September 30th. Mizuho dropped their target price on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a report on Monday, September 16th. Scotiabank dropped their price target on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research note on Thursday. Finally, Sanford C. Bernstein cut shares of Chevron from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $183.00 to $167.00 in a research note on Wednesday, July 17th. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $176.81.

Chevron Company 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.