Laraway Financial Advisors Inc Takes $449,000 Position in Chevron Corporation $CVX

Laraway Financial Advisors Inc purchased a new stake in Chevron Corporation (NYSE:CVX) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,710 shares of the oil and gas company’s stock, valued at approximately $449,000.

A number of other hedge funds have also bought and sold shares of the business. Midwest Capital Advisors LLC bought a new stake in Chevron in the 1st quarter valued at about $25,000. Core Wealth Advisors LLC acquired a new position in shares of Chevron during the 4th quarter worth approximately $26,000. Phillip James Consulting Co. bought a new position in shares of Chevron during the fourth quarter worth approximately $26,000. Basso Capital Management L.P. bought a new position in shares of Chevron during the fourth quarter worth approximately $27,000. Finally, Karpus Management Inc. bought a new position in shares of Chevron during the fourth quarter worth approximately $27,000. 72.42% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. UBS Group reiterated a “buy” rating on shares of Chevron in a research note on Tuesday, June 23rd. Dbs Bank upgraded Chevron to a “moderate buy” rating in a research note on Thursday, August 6th. Zacks Research cut Chevron from a “strong-buy” rating to a “hold” rating in a report on Monday, June 8th. Piper Sandler initiated coverage on Chevron in a report on Thursday, July 23rd. They issued an “overweight” rating and a $207.00 price objective for the company. Finally, Mizuho set a $224.00 target price on Chevron in a research report on Monday, August 3rd. Twenty equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $207.48.

Chevron Price Performance

Shares of NYSE:CVX opened at $199.99 on Friday. The firm has a 50 day moving average of $183.30 and a 200-day moving average of $186.88. Chevron Corporation has a 12 month low of $146.49 and a 12 month high of $214.71. The company has a current ratio of 1.25, a quick ratio of 0.98 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $395.13 billion, a PE ratio of 19.17, a PEG ratio of 0.60 and a beta of 0.49.

Chevron (NYSE:CVX) last posted its quarterly earnings results 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. The business had revenue of $67.20 billion for the quarter, compared to analyst estimates of $62.72 billion. Chevron had a net margin of 9.57% and a return on equity of 11.09%. The firm’s revenue for the quarter was up 57.4% on a year-over-year basis. During the same quarter last year, the business posted $1.77 EPS. On average, equities research analysts predict that Chevron Corporation will post 15.86 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th will be given a dividend of $1.78 per share. This represents a $7.12 annualized dividend and a yield of 3.6%. The ex-dividend date is Wednesday, August 19th. Chevron’s payout ratio is currently 68.26%.

Insider Buying and Selling at Chevron

In other Chevron news, Director John B. Hess sold 100,000 shares of the company’s 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 completion of the sale, the director directly owned 178,045 shares in the company, valued at $34,587,021.70. This represents a 35.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael K. Wirth sold 5,547 shares of the firm’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $187.00, for a total value of $1,037,289.00. Following the completion of the sale, the chief executive officer directly owned 26,308 shares in the company, valued at approximately $4,919,596. This represents a 17.41% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 1,196,212 shares of company stock valued at $231,819,366 over the last 90 days. Corporate insiders own 0.56% of the company’s stock.

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.