Trivium Point Advisory LLC Buys New Stake in Chevron Corporation $CVX

Trivium Point Advisory LLC purchased a new stake in Chevron Corporation (NYSE:CVX - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 24,500 shares of the oil and gas company's stock, valued at approximately $4,061,000.

A number of other institutional investors have also modified their holdings of the stock. Midwest Capital Advisors LLC purchased a new stake in shares of Chevron in the first quarter worth about $25,000. Main Street Group LTD purchased a new position in Chevron during the first quarter valued at approximately $28,000. Phillip James Consulting Co. acquired a new position in Chevron in the fourth quarter valued at approximately $26,000. Core Wealth Advisors LLC acquired a new position in Chevron in the fourth quarter valued at approximately $26,000. Finally, Karpus Management Inc. purchased a new stake in Chevron in the 4th quarter worth approximately $27,000. Hedge funds and other institutional investors own 72.42% of the company's stock.

Analysts Set New Price Targets

CVX has been the topic of a number of analyst reports. Bank of America raised their price objective on shares of Chevron from $210.00 to $227.00 and gave the stock a "buy" rating in a research note on Tuesday, July 28th. The Goldman Sachs Group reissued a "buy" rating and set a $216.00 price target on shares of Chevron in a report on Wednesday, May 6th. Weiss Ratings upgraded shares of Chevron from a "hold (c)" rating to a "buy (b)" rating in a research report on Tuesday, August 11th. Wall Street Zen raised shares of Chevron from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Finally, Morgan Stanley lowered their target price on shares of Chevron from $214.00 to $210.00 and set an "overweight" rating on the stock in a research note on Monday, June 29th. Twenty analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $207.48.

Chevron Stock Down 0.0%

CVX stock opened at $199.99 on Monday. Chevron Corporation has a 52 week low of $146.49 and a 52 week high of $214.71. The company has a quick ratio of 0.98, a current ratio of 1.25 and a debt-to-equity ratio of 0.19. The firm has a 50-day simple moving average of $183.30 and a 200-day simple moving average of $187.01. The stock has a market capitalization of $395.13 billion, a P/E ratio of 19.17, a P/E/G ratio of 0.61 and a beta of 0.49.

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

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be paid 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 3.6%. Chevron's payout ratio is currently 68.26%.

Insider Buying and Selling

In other Chevron news, CEO Michael K. Wirth sold 5,547 shares of the firm's stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $187.00, for a total value of $1,037,289.00. Following the transaction, the chief executive officer owned 26,308 shares in the company, valued at approximately $4,919,596. This trade represents a 17.41% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director John B. Hess sold 100,000 shares of Chevron stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $194.26, for a total transaction of $19,426,000.00. Following the sale, the director directly owned 178,045 shares in the company, valued at approximately $34,587,021.70. This trade represents a 35.97% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 1,196,212 shares of company stock worth $231,819,366 over the last ninety days. Corporate insiders own 0.56% of the company's stock.

About Chevron

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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