Capital Financial Group Inc. Co. ADV Makes New $2.32 Million Investment in Chevron Corporation $CVX

Key Points

• Capital Financial Group initiated a $2.32 million Chevron position by purchasing 13,989 shares in the second quarter, making Chevron its 12th-largest holding and about 1.2% of its portfolio. Institutional investors collectively own 72.42% of Chevron’s stock.
• Chevron exceeded quarterly expectations, reporting $6.06 in earnings per share on $67.20 billion in revenue, with revenue up 57.4% year over year. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $207.13.
• Chevron declared a quarterly dividend of $1.78, equivalent to $7.12 annually and a 3.5% yield. However, insiders sold more than 1.19 million shares worth approximately $231.8 million during the quarter.

Capital Financial Group Inc. Co. ADV bought a new position in shares of Chevron Corporation (NYSE:CVX - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 13,989 shares of the oil and gas company's stock, valued at approximately $2,319,000. Chevron accounts for approximately 1.2% of Capital Financial Group Inc. Co. ADV's portfolio, making the stock its 12th biggest holding.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Focused Wealth Management Inc bought a new position in Chevron in the second quarter worth approximately $485,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Chevron during the 2nd quarter valued at $810,727,000. OneDigital Investment Advisors LLC bought a new stake in Chevron during the 2nd quarter valued at $13,169,000. Plato Investment Management Ltd purchased a new stake in shares of Chevron in the 2nd quarter worth $2,502,000. Finally, Bell Investment Advisors Inc purchased a new stake in shares of Chevron in the 2nd quarter worth $1,321,000. Institutional investors own 72.42% of the company's stock.

Chevron Price Performance

Shares of CVX stock opened at $202.75 on Tuesday. The stock's 50-day moving average is $183.57 and its 200 day moving average is $187.25. Chevron Corporation has a 1-year low of $146.49 and a 1-year high of $214.71. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.25 and a quick ratio of 0.98. The company has a market cap of $400.59 billion, a P/E ratio of 19.44, a PEG ratio of 0.61 and a beta of 0.49.

Chevron (NYSE:CVX - Get Free Report) last announced its earnings results on Friday, July 31st. The oil and gas company reported $6.06 EPS for the quarter, topping analysts' consensus estimates of $5.55 by $0.51. The business had revenue of $67.20 billion during the quarter, compared to the consensus estimate of $62.72 billion. Chevron had a net margin of 9.57% and a return on equity of 11.09%. The firm's revenue was up 57.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.77 earnings per share. Research analysts predict that Chevron Corporation will post 15.86 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be given a $1.78 dividend. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.5%. Chevron's payout ratio is presently 68.26%.

Wall Street Analysts Forecast Growth

CVX has been the subject of several recent research reports. Barclays decreased their price objective on Chevron from $216.00 to $208.00 and set an "equal weight" rating for the company in a report on Monday. Dbs Bank upgraded shares of Chevron to a "moderate buy" rating in a report on Thursday, August 6th. The Goldman Sachs Group reiterated a "buy" rating and set a $216.00 target price on shares of Chevron in a report on Wednesday, May 6th. Mizuho set a $224.00 target price on shares of Chevron in a research report on Monday, August 3rd. Finally, Weiss Ratings upgraded shares of Chevron from a "hold (c)" rating to a "buy (b)" rating in a report on Tuesday, August 11th. Twenty investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $207.13.

Insider Activity at Chevron

In other Chevron news, Director John B. Hess sold 710,665 shares of the firm's stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $194.10, for a total value of $137,940,076.50. Following the completion of the sale, the director directly owned 363,711 shares in the company, valued at $70,596,305.10. This trade represents a 66.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael K. Wirth sold 5,547 shares of Chevron stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $187.00, for a total transaction of $1,037,289.00. Following the completion of the transaction, the chief executive officer directly owned 26,308 shares in the company, valued at $4,919,596. This represents a 17.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 1,196,212 shares of company stock valued at $231,819,366. 0.56% of the stock is currently owned by company insiders.

More Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Major Angola discovery expands Chevron’s resource base. Chevron’s 105-4X exploration well in offshore Angola’s Block 0 encountered a hydrocarbon column exceeding 600 meters (about 2,000 feet), including more than 90 meters of net pay in the primary Pinda reservoir. The size of the find strengthens the company’s long-term production outlook and supports its strategic exploration program in Sub-Saharan Africa. Reuters article
• Positive Sentiment: Potential tie-in could reduce development costs. The discovery is located near existing Block 0 infrastructure, creating the possibility of a relatively efficient tie-back and potentially accelerating development while limiting capital requirements. However, commerciality, appraisal work and a development timeline have not yet been established. Chevron Stock Rises After Major Angola Discovery
• Positive Sentiment: Higher oil prices provide additional sector support. Reports that Brent crude was approaching $89 a barrel amid continued disruption and uncertainty around the Strait of Hormuz are supportive of Chevron’s upstream revenue and cash-flow prospects, although the geopolitical situation also raises market and operating risks. Brent Crude Nears $89
• Neutral Sentiment: Income appeal remains part of the investment case. Chevron continues to be highlighted by analysts as a dividend-paying energy major with potential upside, but the dividend coverage and valuation were not materially changed by these reports. Dividend Stocks Article

Chevron Company Profile

Chevron Corporation NYSE: CVX is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron's core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.

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