Simplicity Wealth LLC Makes New Investment in Chevron Corporation $CVX

Simplicity Wealth LLC bought a new stake in shares of Chevron Corporation (NYSE:CVX) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 82,222 shares of the oil and gas company’s stock, valued at approximately $13,629,000.

A number of other large investors also recently made changes to their positions in the business. Midwest Capital Advisors LLC acquired a new stake in shares of Chevron during the first quarter worth approximately $25,000. Core Wealth Advisors LLC purchased a new position in Chevron during the fourth quarter valued at approximately $26,000. Phillip James Consulting Co. acquired a new position in Chevron in the 4th quarter valued at approximately $26,000. Basso Capital Management L.P. acquired a new position in Chevron in the 4th quarter valued at approximately $27,000. Finally, Karpus Management Inc. purchased a new stake in Chevron in the 4th quarter worth approximately $27,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on CVX shares. Mizuho set a $224.00 target price on shares of Chevron in a research note on Monday, August 3rd. Scotiabank upped their price target on shares of Chevron from $168.00 to $187.00 and gave the stock a “sector perform” rating in a research note on Wednesday, April 22nd. Weiss Ratings upgraded Chevron from a “hold (c)” rating to a “buy (b)” rating in a report on Tuesday, August 11th. Royal Bank Of Canada reissued an “outperform” rating and set a $220.00 price objective on shares of Chevron in a research report on Tuesday, May 5th. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $216.00 target price on shares of Chevron in a research note on Wednesday, May 6th. Twenty investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $207.48.

Insiders Place Their Bets

In related news, CEO Michael K. Wirth sold 5,547 shares of the company’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $187.00, for a total value of $1,037,289.00. Following the completion of the transaction, the chief executive officer directly owned 26,308 shares in the company, valued at approximately $4,919,596. This represents a 17.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John B. Hess sold 710,665 shares of the firm’s stock in a transaction on Monday, August 3rd. The stock was 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 of the company’s stock, valued at approximately $70,596,305.10. This trade represents a 66.15% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 1,196,212 shares of company stock valued at $231,819,366 over the last 90 days. 0.56% of the stock is currently owned by corporate insiders.

Chevron Price Performance

NYSE CVX opened at $199.99 on Monday. The company has a current ratio of 1.25, a quick ratio of 0.98 and a debt-to-equity ratio of 0.19. The company has a fifty day simple moving average of $183.30 and a 200 day simple moving average of $187.01. The company has a market cap of $395.13 billion, a P/E ratio of 19.17, a P/E/G ratio of 0.61 and a beta of 0.49. Chevron Corporation has a 1 year low of $146.49 and a 1 year high of $214.71.

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

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be given a dividend of $1.78 per share. The ex-dividend date is Wednesday, August 19th. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.6%. Chevron’s payout ratio is currently 68.26%.

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.