Avaii Wealth Management LLC Lowers Stake in Chevron Co. (NYSE:CVX)

Avaii Wealth Management LLC decreased its stake in Chevron Co. (NYSE:CVX) by 11.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,344 shares of the oil and gas company’s stock after selling 167 shares during the period. Avaii Wealth Management LLC’s holdings in Chevron were worth $200,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Picton Mahoney Asset Management acquired a new stake in shares of Chevron in the third quarter valued at about $26,000. Valley Forge Investment Consultants Inc. ADV grew its stake in shares of Chevron by 80.0% in the third quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock valued at $30,000 after buying an additional 80 shares in the last quarter. Valued Wealth Advisors LLC acquired a new stake in shares of Chevron in the fourth quarter valued at about $33,000. Legacy Financial Group LLC acquired a new stake in Chevron during the 3rd quarter valued at approximately $43,000. Finally, Roble Belko & Company Inc grew its stake in Chevron by 77.3% during the 4th quarter. Roble Belko & Company Inc now owns 344 shares of the oil and gas company’s stock valued at $51,000 after purchasing an additional 150 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Activity at Chevron

In related news, VP Alana K. Knowles sold 2,800 shares of the firm’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $165.00, for a total value of $462,000.00. Following the sale, the vice president now directly owns 276 shares in the company, valued at approximately $45,540. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.20% of the stock is owned by insiders.

Chevron Trading Up 0.3 %

Shares of NYSE CVX opened at $166.34 on Tuesday. The company has a market cap of $308.94 billion, a price-to-earnings ratio of 15.30, a price-to-earnings-growth ratio of 2.44 and a beta of 1.12. Chevron Co. has a 12-month low of $139.62 and a 12-month high of $171.70. The company has a current ratio of 1.27, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. The stock’s 50 day simple moving average is $156.81 and its 200 day simple moving average is $151.70.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.84 by $0.09. The business had revenue of $48.72 billion for the quarter, compared to the consensus estimate of $48.42 billion. Chevron had a return on equity of 14.38% and a net margin of 10.21%. The business’s revenue was down 4.1% on a year-over-year basis. During the same quarter last year, the business posted $3.55 EPS. Equities research analysts expect that Chevron Co. will post 13.58 EPS for the current year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 17th will be given a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 3.92%. The ex-dividend date of this dividend is Thursday, May 16th. Chevron’s dividend payout ratio is currently 59.98%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CVX. The Goldman Sachs Group restated a “buy” rating on shares of Chevron in a research note on Monday, April 1st. Scotiabank upgraded Chevron from a “sector perform” rating to a “sector outperform” rating and raised their price objective for the company from $170.00 to $195.00 in a research note on Thursday, April 11th. TD Cowen raised their price objective on Chevron from $155.00 to $160.00 and gave the company a “hold” rating in a research note on Monday. Piper Sandler raised their price objective on Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a research note on Thursday, April 18th. Finally, Truist Financial lowered their price objective on Chevron from $168.00 to $156.00 and set a “hold” rating for the company in a research note on Friday, April 5th. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $185.25.

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.