Avaii Wealth Management LLC Grows Stake in Chevron Corporation $CVX

Avaii Wealth Management LLC boosted its position in shares of Chevron Corporation (NYSE:CVX) by 1,957.6% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 44,959 shares of the oil and gas company’s stock after acquiring an additional 42,774 shares during the quarter. Chevron accounts for 2.7% of Avaii Wealth Management LLC’s portfolio, making the stock its 14th biggest holding. Avaii Wealth Management LLC’s holdings in Chevron were worth $6,982,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. White Knight Strategic Wealth Advisors LLC boosted its holdings in shares of Chevron by 3.0% in the second quarter. White Knight Strategic Wealth Advisors LLC now owns 2,230 shares of the oil and gas company’s stock worth $319,000 after buying an additional 65 shares during the last quarter. Rakuten Securities Inc. boosted its stake in shares of Chevron by 7.4% during the 2nd quarter. Rakuten Securities Inc. now owns 961 shares of the oil and gas company’s stock worth $138,000 after acquiring an additional 66 shares during the last quarter. Analyst IMS Investment Management Services Ltd. grew its position in shares of Chevron by 1.0% during the 2nd quarter. Analyst IMS Investment Management Services Ltd. now owns 6,751 shares of the oil and gas company’s stock valued at $966,000 after acquiring an additional 67 shares during the period. M.E. Allison & CO. Inc. increased its stake in shares of Chevron by 0.6% in the 3rd quarter. M.E. Allison & CO. Inc. now owns 11,204 shares of the oil and gas company’s stock worth $1,740,000 after purchasing an additional 67 shares in the last quarter. Finally, Greenfield Savings Bank raised its holdings in Chevron by 0.6% in the 2nd quarter. Greenfield Savings Bank now owns 11,611 shares of the oil and gas company’s stock worth $1,663,000 after purchasing an additional 68 shares during the period. 72.42% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director John B. Hess sold 275,000 shares of the business’s stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $150.75, for a total value of $41,456,250.00. Following the sale, the director owned 1,128,045 shares in the company, valued at approximately $170,052,783.75. The trade was a 19.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.21% of the company’s stock.

Chevron Stock Performance

CVX opened at $152.44 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.86 and a current ratio of 1.15. The stock has a market capitalization of $306.94 billion, a price-to-earnings ratio of 21.44, a PEG ratio of 9.15 and a beta of 0.70. The company has a fifty day moving average of $151.87 and a 200 day moving average of $152.96. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, October 31st. The oil and gas company reported $1.85 EPS for the quarter, topping the consensus estimate of $1.71 by $0.14. The business had revenue of $48.17 billion for the quarter, compared to analysts’ expectations of $46.99 billion. Chevron had a net margin of 6.57% and a return on equity of 8.74%. The business’s quarterly revenue was down 1.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.48 EPS. As a group, sell-side analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 10th. Investors of record on Tuesday, November 18th were issued a $1.71 dividend. The ex-dividend date of this dividend was Tuesday, November 18th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.5%. Chevron’s dividend payout ratio (DPR) is 96.20%.

Analyst Upgrades and Downgrades

CVX has been the subject of several recent research reports. Piper Sandler cut their price target on Chevron from $171.00 to $169.00 and set an “overweight” rating for the company in a report on Monday, November 10th. UBS Group reiterated a “buy” rating on shares of Chevron in a research note on Monday, December 1st. Wall Street Zen upgraded shares of Chevron from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Morgan Stanley upped their price target on shares of Chevron from $177.00 to $180.00 and gave the stock an “overweight” rating in a research report on Thursday, November 13th. Finally, Barclays decreased their price target on Chevron from $160.00 to $158.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $166.00.

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.