OmniStar Financial Group Inc. Invests $694,000 in Chevron Co. (NYSE:CVX)

OmniStar Financial Group Inc. acquired a new position in Chevron Co. (NYSE:CVX - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 4,698 shares of the oil and gas company's stock, valued at approximately $694,000.

A number of other institutional investors and hedge funds have also bought and sold shares of CVX. Pacifica Partners Inc. grew its position in shares of Chevron by 1.8% in the 1st quarter. Pacifica Partners Inc. now owns 3,492 shares of the oil and gas company's stock worth $546,000 after buying an additional 63 shares during the period. Private Wealth Management Group LLC lifted its holdings in Chevron by 15.7% in the first quarter. Private Wealth Management Group LLC now owns 464 shares of the oil and gas company's stock valued at $73,000 after acquiring an additional 63 shares during the period. Montz Harcus Wealth Management LLC boosted its holdings in shares of Chevron by 2.2% in the second quarter. Montz Harcus Wealth Management LLC now owns 2,943 shares of the oil and gas company's stock worth $460,000 after buying an additional 63 shares during the last quarter. Hubbell Strickland Wealth Management LLC grew its position in shares of Chevron by 0.7% during the 2nd quarter. Hubbell Strickland Wealth Management LLC now owns 9,493 shares of the oil and gas company's stock valued at $1,485,000 after acquiring an additional 64 shares during the period. Finally, Ellenbecker Investment Group grew its holdings in Chevron by 1.5% during the first quarter. Ellenbecker Investment Group now owns 4,346 shares of the oil and gas company's stock valued at $686,000 after purchasing an additional 65 shares during the period. Institutional investors own 72.42% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Wolfe Research started coverage on Chevron in a research report on Thursday, July 18th. They set a "peer perform" rating for the company. UBS Group lifted their price objective on shares of Chevron from $189.00 to $192.00 and gave the company a "buy" rating in a report on Tuesday, October 8th. Scotiabank reduced their price objective on Chevron from $180.00 to $163.00 and set a "sector outperform" rating on the stock in a report on Thursday, October 10th. Royal Bank of Canada reiterated an "outperform" rating and issued a $170.00 target price on shares of Chevron in a report on Tuesday, October 8th. Finally, Sanford C. Bernstein lowered Chevron from an "outperform" rating to a "market perform" rating and cut their price target for the company from $183.00 to $167.00 in a research note on Wednesday, July 17th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $173.07.

Chevron Stock Down 0.3 %

Shares of CVX stock traded down $0.46 during trading hours on Friday, reaching $150.74. 5,207,440 shares of the company's stock were exchanged, compared to its average volume of 7,706,832. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $170.17. The stock's 50 day moving average is $146.07 and its 200-day moving average is $153.71. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13. The company has a market cap of $277.81 billion, a price-to-earnings ratio of 13.87, a P/E/G ratio of 2.74 and a beta of 1.09.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 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 business had revenue of $51.18 billion during the quarter, compared to analysts' expectations of $48.68 billion. During the same quarter last year, the business posted $3.08 earnings per share. The company's quarterly revenue was up 4.7% compared to the same quarter last year. Analysts predict that Chevron Co. will post 11.06 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were issued a $1.63 dividend. 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 4.33%. Chevron's dividend payout ratio is currently 59.98%.

About Chevron

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.