Avaii Wealth Management LLC Makes New $313,000 Investment in Chevron Corporation $CVX

Key Points

• Avaii Wealth Management LLC has made a new investment of approximately $313,000 in Chevron Corporation, acquiring 2,185 shares of the stock during the 2nd quarter.
• Chemron reported $1.77 earnings per share for the last quarter, exceeding estimates, while its revenue decreased 12.4% year-over-year to $44.82 billion.
• The company's quarterly dividend of $1.71 was recently declared, yielding 4.3% annually with a payout ratio of 88.03%.

Avaii Wealth Management LLC bought a new position in Chevron Corporation (NYSE:CVX - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 2,185 shares of the oil and gas company's stock, valued at approximately $313,000.

A number of other institutional investors and hedge funds have also bought and sold shares of CVX. Kingstone Capital Partners Texas LLC increased its position in shares of Chevron by 652,139.5% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 83,714,936 shares of the oil and gas company's stock valued at $13,214,757,000 after purchasing an additional 83,702,101 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Chevron by 4.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 33,430,030 shares of the oil and gas company's stock valued at $5,592,263,000 after purchasing an additional 1,574,464 shares in the last quarter. Invesco Ltd. increased its position in Chevron by 5.5% in the first quarter. Invesco Ltd. now owns 15,855,325 shares of the oil and gas company's stock worth $2,652,437,000 after purchasing an additional 827,851 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Chevron by 0.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 12,281,983 shares of the oil and gas company's stock worth $2,054,513,000 after buying an additional 40,758 shares in the last quarter. Finally, GQG Partners LLC bought a new stake in shares of Chevron in the 1st quarter worth about $1,466,751,000. 72.42% of the stock is currently owned by institutional investors.

Chevron Trading Up 1.1%

CVX opened at $159.15 on Thursday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00. The stock has a market capitalization of $275.00 billion, a PE ratio of 20.48, a P/E/G ratio of 1.97 and a beta of 0.90. The business's 50 day moving average price is $155.64 and its 200 day moving average price is $149.09. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96.

Chevron (NYSE:CVX - Get Free Report) last announced its earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.19. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The firm had revenue of $44.82 billion for the quarter, compared to the consensus estimate of $44.59 billion. During the same period in the prior year, the firm earned $2.55 EPS. The firm's revenue for the quarter was down 12.4% on a year-over-year basis. As a group, equities research analysts expect that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th were given a $1.71 dividend. The ex-dividend date was Tuesday, August 19th. This represents a $6.84 annualized dividend and a yield of 4.3%. Chevron's dividend payout ratio is 88.03%.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Wells Fargo & Company reiterated an "overweight" rating and set a $178.00 price target on shares of Chevron in a report on Friday, August 1st. Scotiabank reissued a "sector perform" rating and issued a $160.00 price objective (up previously from $143.00) on shares of Chevron in a research note on Friday, July 11th. Jefferies Financial Group reaffirmed a "buy" rating on shares of Chevron in a research report on Friday, July 18th. Raymond James Financial reiterated an "outperform" rating on shares of Chevron in a research note on Friday, August 1st. Finally, Melius Research began coverage on Chevron in a research note on Wednesday, August 20th. They issued a "hold" rating and a $155.00 target price for the company. Eleven equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $165.05.

Insider Activity

In other Chevron news, VP Alana K. Knowles sold 3,978 shares of the stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $160.00, for a total transaction of $636,480.00. Following the completion of the sale, the vice president directly owned 1,181 shares of the company's stock, valued at approximately $188,960. This trade represents a 77.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John B. Hess sold 375,000 shares of Chevron stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $158.30, for a total value of $59,362,500.00. Following the completion of the sale, the director directly owned 1,403,045 shares in the company, valued at $222,102,023.50. This represents a 21.09% decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by corporate insiders.

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.

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