Avity Investment Management Inc. Has $27.43 Million Holdings in Chevron Corporation $CVX

Key Points

• Avity Investment Management Inc. increased its holdings in Chevron Corporation by 8.7%, holding a total of over $27 million in shares as of the latest SEC filing.
• Chevron recently announced a quarterly dividend of $1.71 per share, equating to an annual yield of 4.4%, with a dividend payout ratio of 88.03%.
• Chevron's stock opened at $157.23, experiencing a 0.6% decline, with a market cap of approximately $271.69 billion.

Avity Investment Management Inc. boosted its stake in shares of Chevron Corporation (NYSE:CVX - Free Report) by 8.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 191,544 shares of the oil and gas company's stock after purchasing an additional 15,363 shares during the quarter. Chevron accounts for approximately 2.0% of Avity Investment Management Inc.'s holdings, making the stock its 25th biggest position. Avity Investment Management Inc.'s holdings in Chevron were worth $27,427,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of CVX. GQG Partners LLC acquired a new position in Chevron during the 1st quarter valued at $1,466,751,000. Nuveen LLC acquired a new position in shares of Chevron in the 1st quarter valued at $1,362,232,000. GAMMA Investing LLC raised its stake in shares of Chevron by 21,191.5% in the 1st quarter. GAMMA Investing LLC now owns 5,408,248 shares of the oil and gas company's stock valued at $904,746,000 after buying an additional 5,382,847 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Chevron by 4.9% in the 1st 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 buying an additional 1,574,464 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its stake in shares of Chevron by 141.2% in the 1st quarter. Canada Pension Plan Investment Board now owns 1,891,824 shares of the oil and gas company's stock valued at $316,483,000 after buying an additional 1,107,628 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Chevron

In other Chevron news, VP Alana K. Knowles sold 3,978 shares of the stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $160.00, for a total transaction of $636,480.00. Following the sale, the vice president owned 1,181 shares of the company's stock, valued at $188,960. This represents a 77.11% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John B. Hess sold 375,000 shares of the stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $158.30, for a total transaction of $59,362,500.00. Following the sale, the director directly owned 1,403,045 shares in the company, valued at approximately $222,102,023.50. This represents a 21.09% decrease in their position. The disclosure for this sale can be found here. 0.20% of the stock is owned by corporate insiders.

Chevron Stock Down 0.6%

CVX opened at $157.23 on Monday. The firm's 50-day simple moving average is $154.67 and its 200-day simple moving average is $148.79. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96. The firm has a market cap of $271.69 billion, a price-to-earnings ratio of 20.24, a PEG ratio of 1.98 and a beta of 0.90.

Chevron (NYSE:CVX - Get Free Report) last posted 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 business had revenue of $44.82 billion for the quarter, compared to analyst estimates of $44.59 billion. During the same quarter in the prior year, the firm earned $2.55 EPS. The firm's quarterly revenue was down 12.4% compared to the same quarter last year. Equities research analysts anticipate that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were issued a dividend of $1.71 per share. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $6.84 dividend on an annualized basis and a yield of 4.4%. Chevron's dividend payout ratio is currently 88.03%.

Analyst Upgrades and Downgrades

CVX has been the subject of a number of recent research reports. Bank of America increased their price objective on shares of Chevron from $170.00 to $185.00 and gave the company a "buy" rating in a research note on Wednesday, September 10th. Raymond James Financial restated an "outperform" rating on shares of Chevron in a research note on Friday, August 1st. UBS Group increased their price objective on shares of Chevron from $186.00 to $197.00 and gave the company a "buy" rating in a research note on Wednesday, August 20th. Scotiabank restated 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. Finally, Jefferies Financial Group restated a "buy" rating on shares of Chevron in a research note on Friday, July 18th. Eleven equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $164.80.

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.

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