AA Financial Advisors LLC Invests $598,000 in Chevron Co. (NYSE:CVX)

AA Financial Advisors LLC acquired a new stake in shares of Chevron Co. (NYSE:CVX) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,791 shares of the oil and gas company’s stock, valued at approximately $598,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. American Capital Advisory LLC raised its position in Chevron by 403.2% in the first quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 125 shares during the period. Bare Financial Services Inc purchased a new stake in shares of Chevron in the fourth quarter worth $27,000. Frank Rimerman Advisors LLC purchased a new stake in shares of Chevron in the fourth quarter worth $30,000. Valued Wealth Advisors LLC purchased a new stake in shares of Chevron in the fourth quarter worth $33,000. Finally, Cooksen Wealth LLC purchased a new stake in shares of Chevron in the fourth quarter worth $40,000. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

NYSE:CVX traded up $1.50 during trading hours on Wednesday, hitting $154.48. 1,700,211 shares of the company were exchanged, compared to its average volume of 7,912,792. The stock has a market capitalization of $284.70 billion, a price-to-earnings ratio of 14.13, a PEG ratio of 2.34 and a beta of 1.10. 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 current ratio of 1.23 and a quick ratio of 0.93. The company’s 50 day moving average price is $158.04 and its 200-day moving average price is $155.03.

Chevron (NYSE:CVX) last released its earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, topping the consensus estimate of $2.84 by $0.09. Chevron had a net margin of 10.21% and a return on equity of 14.40%. The company had revenue of $48.72 billion for the quarter, compared to the consensus estimate of $48.42 billion. During the same quarter in the previous year, the firm earned $3.55 EPS. Chevron’s revenue was down 4.1% compared to the same quarter last year. As a group, research analysts forecast that Chevron Co. will post 13.18 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 17th were paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 4.22%. The ex-dividend date of this dividend was Thursday, May 16th. Chevron’s payout ratio is 59.98%.

Insider Buying and Selling at Chevron

In other Chevron news, Director Enrique Hernandez, Jr. sold 2,549 shares of Chevron stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $161.00, for a total transaction of $410,389.00. Following the completion of the sale, the director now directly owns 7,647 shares in the company, valued at approximately $1,231,167. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, VP Jeff B. Gustavson sold 3,750 shares of the business’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $160.23, for a total value of $600,862.50. Following the completion of the transaction, the vice president now directly owns 477 shares in the company, valued at approximately $76,429.71. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Enrique Hernandez, Jr. sold 2,549 shares of the business’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $161.00, for a total transaction of $410,389.00. Following the completion of the transaction, the director now owns 7,647 shares of the company’s stock, valued at $1,231,167. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,746 shares of company stock worth $2,727,971. Company insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on CVX shares. HSBC raised their target price on shares of Chevron from $175.00 to $178.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. Barclays assumed coverage on shares of Chevron in a research report on Wednesday, April 10th. They set an “overweight” rating and a $203.00 price objective for the company. Piper Sandler raised their target price on shares of Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a report on Thursday, April 18th. Scotiabank upgraded shares of Chevron from a “sector perform” rating to a “sector outperform” rating and lifted their price objective for the company from $170.00 to $195.00 in a report on Thursday, April 11th. Finally, Raymond James lifted their price objective on shares of Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a report on Monday, April 15th. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $186.95.

Chevron 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.