Laraway Financial Advisors Inc Purchases Shares of 2,710 Chevron Corporation $CVX

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

Several other institutional investors have also recently made changes to their positions in the stock. Norges Bank acquired a new stake in shares of Chevron in the 4th quarter valued at approximately $3,727,586,000. State Street Corp increased its holdings in Chevron by 9.1% during the third quarter. State Street Corp now owns 152,605,988 shares of the oil and gas company’s stock worth $23,698,184,000 after buying an additional 12,789,399 shares during the last quarter. Berkshire Hathaway Inc raised its position in Chevron by 6.6% during the fourth quarter. Berkshire Hathaway Inc now owns 130,156,362 shares of the oil and gas company’s stock worth $19,837,131,000 after acquiring an additional 8,091,570 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in Chevron by 822.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 6,211,258 shares of the oil and gas company’s stock worth $946,658,000 after acquiring an additional 5,537,580 shares in the last quarter. Finally, Aristotle Capital Management LLC lifted its stake in Chevron by 653.0% in the first quarter. Aristotle Capital Management LLC now owns 4,526,223 shares of the oil and gas company’s stock valued at $936,492,000 after acquiring an additional 3,925,137 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on CVX shares. Wall Street Zen raised shares of Chevron from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Weiss Ratings raised shares of Chevron from a “hold (c)” rating to a “buy (b)” rating in a report on Tuesday. The Goldman Sachs Group reiterated a “buy” rating and issued a $216.00 target price on shares of Chevron in a research note on Wednesday, May 6th. Dbs Bank upgraded shares of Chevron to a “moderate buy” rating in a research note on Thursday, August 6th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $216.00 price target on shares of Chevron in a report on Friday, July 10th. Twenty research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $207.48.

Chevron Trading Up 1.2%

Shares of Chevron stock opened at $199.99 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.25 and a quick ratio of 0.98. The business has a fifty day simple moving average of $183.30 and a two-hundred day simple moving average of $186.88. Chevron Corporation has a 1 year low of $146.49 and a 1 year high of $214.71. The company has a market capitalization of $395.13 billion, a price-to-earnings ratio of 19.17, a P/E/G ratio of 0.60 and a beta of 0.49.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, July 31st. The oil and gas company reported $6.06 EPS for the quarter, beating the consensus estimate of $5.55 by $0.51. The firm had revenue of $67.20 billion for the quarter, compared to the consensus estimate of $62.72 billion. Chevron had a net margin of 9.57% and a return on equity of 11.09%. The company’s quarterly revenue was up 57.4% on a year-over-year basis. During the same period in the previous year, the company earned $1.77 earnings per share. Research analysts forecast that Chevron Corporation will post 15.86 EPS for the current year.

Chevron Announces Dividend

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

Insider Transactions at Chevron

In other Chevron news, CEO Michael K. Wirth sold 5,547 shares of the firm’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $187.00, for a total transaction 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 $4,919,596. This trade represents a 17.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director John B. Hess sold 710,665 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $194.10, for a total value of $137,940,076.50. Following the completion of the transaction, the director directly owned 363,711 shares in the company, valued at $70,596,305.10. The trade was a 66.15% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 1,196,212 shares of company stock worth $231,819,366. 0.56% of the stock is owned by company insiders.

Chevron 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.