7,930 Shares in Chevron Corporation $CVX Purchased by Magnolia Capital Advisors LLC

Magnolia Capital Advisors LLC acquired a new position in Chevron Corporation (NYSE:CVX) in the 2nd quarter, Holdings Channel reports. The firm acquired 7,930 shares of the oil and gas company’s stock, valued at approximately $1,314,000.

Several other large investors have also bought and sold shares of CVX. Vantage Point Financial LLC purchased a new position in shares of Chevron during the 2nd quarter worth approximately $205,000. Wallace Capital Management Inc. purchased a new position in shares of Chevron in the 2nd quarter valued at approximately $364,000. Gallagher Fiduciary Advisors LLC purchased a new position in shares of Chevron in the 2nd quarter valued at approximately $1,303,000. Pointe Capital Management LLC bought a new stake in shares of Chevron during the second quarter valued at approximately $560,000. Finally, Odyssean LLC boosted its position in shares of Chevron by 1,515.4% during the second quarter. Odyssean LLC now owns 15,879 shares of the oil and gas company’s stock valued at $2,632,000 after purchasing an additional 14,896 shares in the last quarter. 72.42% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider Andrew Benjamin Walz sold 16,800 shares of the business’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $201.06, for a total value of $3,377,808.00. Following the completion of the transaction, the insider owned 14 shares in the company, valued at $2,814.84. The trade was a 99.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael K. Wirth sold 317,100 shares of the company’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $200.46, for a total value of $63,565,866.00. Following the transaction, the chief executive officer directly owned 26,308 shares in the company, valued at approximately $5,273,701.68. The trade was a 92.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 1,152,582 shares of company stock valued at $225,853,661. 0.56% of the stock is currently owned by company insiders.

Chevron Trading Up 0.2%

Shares of NYSE CVX opened at $200.26 on Thursday. The firm’s 50 day moving average price is $186.34 and its 200-day moving average price is $188.63. The company has a market cap of $395.67 billion, a PE ratio of 19.20, a P/E/G ratio of 0.60 and a beta of 0.49. Chevron Corporation has a 52-week low of $146.49 and a 52-week high of $214.71. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.98 and a current ratio of 1.25.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, July 31st. The oil and gas company reported $6.06 EPS for the quarter, beating analysts’ consensus estimates of $5.55 by $0.51. The firm had revenue of $67.20 billion for the quarter, compared to analysts’ expectations of $62.72 billion. Chevron had a net margin of 9.57% and a return on equity of 11.09%. The business’s revenue for the quarter was up 57.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.77 earnings per share. On average, equities research analysts expect that Chevron Corporation will post 16.17 EPS for the current fiscal year.

Chevron Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CVX. Bank of America increased their price objective on Chevron from $210.00 to $227.00 and gave the stock a “buy” rating in a report on Tuesday, July 28th. Piper Sandler started coverage on shares of Chevron in a report on Thursday, July 23rd. They set an “overweight” rating and a $207.00 target price on the stock. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $216.00 target price on shares of Chevron in a research report on Wednesday, May 6th. TD Cowen increased their price target on shares of Chevron from $200.00 to $205.00 and gave the stock a “hold” rating in a research note on Wednesday, August 5th. Finally, Weiss Ratings upgraded shares of Chevron from a “hold (c)” rating to a “buy (b)” rating in a research note on Tuesday, August 11th. Twenty equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $207.48.

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.