Avaii Wealth Management LLC Boosts Holdings in Chevron Corporation $CVX

Avaii Wealth Management LLC grew its position in Chevron Corporation (NYSE:CVX) by 1,957.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 44,959 shares of the oil and gas company’s stock after acquiring an additional 42,774 shares during the quarter. Chevron comprises about 2.7% of Avaii Wealth Management LLC’s portfolio, making the stock its 14th largest position. 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 have also recently made changes to their positions in the company. Berkshire Hathaway Inc raised its position in Chevron by 2.9% in the 2nd quarter. Berkshire Hathaway Inc now owns 122,064,792 shares of the oil and gas company’s stock worth $17,478,458,000 after purchasing an additional 3,454,258 shares during the period. Kingstone Capital Partners Texas LLC grew its stake in Chevron by 652,139.5% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 83,714,936 shares of the oil and gas company’s stock worth $13,214,757,000 after acquiring an additional 83,702,101 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Chevron by 4.0% during the second quarter. Charles Schwab Investment Management Inc. now owns 34,772,753 shares of the oil and gas company’s stock worth $4,979,255,000 after acquiring an additional 1,342,723 shares during the period. Fisher Asset Management LLC increased its position in shares of Chevron by 1.9% during the second quarter. Fisher Asset Management LLC now owns 20,826,805 shares of the oil and gas company’s stock worth $2,982,190,000 after acquiring an additional 378,936 shares during the period. Finally, Norges Bank bought a new stake in shares of Chevron during the second quarter valued at approximately $2,721,477,000. Institutional investors own 72.42% of the company’s stock.

Insider Activity at Chevron

In other news, Director John B. Hess sold 275,000 shares of the firm’s stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $150.75, for a total transaction of $41,456,250.00. Following the sale, the director owned 1,128,045 shares of the company’s stock, valued at approximately $170,052,783.75. This trade represents a 19.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.21% of the company’s stock.

Analyst Upgrades and Downgrades

CVX has been the subject of several recent research reports. Bank of America decreased their price objective on Chevron from $183.00 to $180.00 and set a “buy” rating for the company in a report on Thursday, December 11th. UBS Group restated a “buy” rating on shares of Chevron in a research note on Monday, December 1st. Hsbc Global Res upgraded Chevron from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 1st. Morgan Stanley boosted their price objective on Chevron from $177.00 to $180.00 and gave the company an “overweight” rating in a research report on Thursday, November 13th. Finally, HSBC set a $169.00 price objective on Chevron and gave the stock a “buy” rating in a research note on Monday, December 1st. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $166.00.

Chevron Price Performance

Shares of CVX opened at $152.44 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.15 and a quick ratio of 0.86. The stock has a market cap of $306.94 billion, a PE ratio of 21.44, a P/E/G ratio of 9.15 and a beta of 0.70. Chevron Corporation has a 1-year low of $132.04 and a 1-year high of $168.96. The firm has a 50-day simple moving average of $151.87 and a two-hundred day simple moving average of $152.96.

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

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Tuesday, November 18th were given 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 is currently 96.20%.

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.