Avaii Wealth Management LLC Has $200,000 Stock Position in Chevron Co. (NYSE:CVX)

Avaii Wealth Management LLC trimmed its stake in shares of Chevron Co. (NYSE:CVX) by 11.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,344 shares of the oil and gas company’s stock after selling 167 shares during the quarter. Avaii Wealth Management LLC’s holdings in Chevron were worth $200,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Chevron by 0.3% during the third quarter. Vanguard Group Inc. now owns 161,924,375 shares of the oil and gas company’s stock valued at $27,303,688,000 after purchasing an additional 458,080 shares in the last quarter. Morgan Stanley boosted its holdings in shares of Chevron by 7.0% in the 3rd quarter. Morgan Stanley now owns 34,166,899 shares of the oil and gas company’s stock worth $5,761,223,000 after acquiring an additional 2,244,995 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Chevron by 1.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 24,236,141 shares of the oil and gas company’s stock worth $4,059,834,000 after acquiring an additional 368,898 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of Chevron by 2.6% in the 3rd quarter. Northern Trust Corp now owns 22,705,118 shares of the oil and gas company’s stock worth $3,828,537,000 after acquiring an additional 569,850 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in shares of Chevron by 0.4% in the 3rd quarter. Ameriprise Financial Inc. now owns 14,814,522 shares of the oil and gas company’s stock worth $2,499,684,000 after acquiring an additional 62,254 shares in the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Stock Performance

Shares of Chevron stock opened at $166.34 on Tuesday. The firm has a fifty day moving average of $156.81 and a two-hundred day moving average of $151.70. The stock has a market capitalization of $308.94 billion, a price-to-earnings ratio of 15.30, a PEG ratio of 2.44 and a beta of 1.12. Chevron Co. has a 52 week low of $139.62 and a 52 week high of $171.70. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.27.

Chevron (NYSE:CVX) last issued its earnings results on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, beating the consensus estimate of $2.84 by $0.09. The company had revenue of $48.72 billion during the quarter, compared to analysts’ expectations of $48.42 billion. Chevron had a net margin of 10.21% and a return on equity of 14.38%. The business’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.55 EPS. As a group, equities research analysts predict that Chevron Co. will post 13.58 EPS for the current year.

Chevron Announces Dividend

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 3.92%. The ex-dividend date of this dividend is Thursday, May 16th. Chevron’s dividend payout ratio is currently 59.98%.

Insider Activity at Chevron

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

Analysts Set New Price Targets

Several research analysts have recently commented on CVX shares. Truist Financial reduced their target price on Chevron from $168.00 to $156.00 and set a “hold” rating on the stock in a report on Friday, April 5th. UBS Group boosted their target price on Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a report on Tuesday, April 9th. Mizuho boosted their target price on Chevron from $195.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. TD Cowen upped their price objective on Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a report on Monday. Finally, Jefferies Financial Group raised Chevron from a “hold” rating to a “buy” rating and set a $184.00 price objective on the stock in a report on Monday, January 8th. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, Chevron presently has a consensus rating of “Moderate Buy” and an average price target of $185.25.

Chevron Company Profile

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.