Simplicity Wealth LLC Buys 3,877 Shares of Chevron Corporation $CVX

Simplicity Wealth LLC lifted its stake in Chevron Corporation (NYSE:CVX) by 15.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 29,175 shares of the oil and gas company’s stock after purchasing an additional 3,877 shares during the period. Simplicity Wealth LLC’s holdings in Chevron were worth $6,036,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of CVX. United Bank grew its holdings in shares of Chevron by 7.7% during the 2nd quarter. United Bank now owns 11,079 shares of the oil and gas company’s stock worth $1,586,000 after acquiring an additional 796 shares during the period. Schnieders Capital Management LLC. raised its position in shares of Chevron by 9.0% in the 2nd quarter. Schnieders Capital Management LLC. now owns 50,839 shares of the oil and gas company’s stock worth $7,280,000 after acquiring an additional 4,214 shares in the last quarter. BNP Paribas lifted its stake in shares of Chevron by 76.4% in the 2nd quarter. BNP Paribas now owns 441 shares of the oil and gas company’s stock valued at $63,000 after purchasing an additional 191 shares during the period. Osterweis Capital Management Inc. boosted its position in shares of Chevron by 678.9% during the second quarter. Osterweis Capital Management Inc. now owns 1,363 shares of the oil and gas company’s stock valued at $195,000 after purchasing an additional 1,188 shares in the last quarter. Finally, Main Street Financial Solutions LLC grew its stake in Chevron by 3.6% in the second quarter. Main Street Financial Solutions LLC now owns 16,052 shares of the oil and gas company’s stock worth $2,299,000 after purchasing an additional 553 shares during the period. Institutional investors own 72.42% of the company’s stock.

Insider Buying and Selling

In other Chevron news, Director John B. Hess sold 380,000 shares of Chevron stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $193.20, for a total value of $73,416,000.00. Following the completion of the sale, the director owned 278,045 shares of the company’s stock, valued at approximately $53,718,294. This trade represents a 57.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.56% of the company’s stock.

Key Stories Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Rising Middle East tensions are pushing crude higher, which can improve Chevron’s upstream profits and make the stock look more attractive as a geopolitical hedge. With Iran Tensions Heating Up Again, Chevron Stock Looks Enticing
• Positive Sentiment: Bullish commentary from Bank of America and other analysts suggests Chevron is well positioned to benefit if Iran-related supply disruptions keep oil prices elevated. CVX Stock Has A New Bull Case
• Positive Sentiment: Chevron announced a five-year gas supply deal with Australia’s Alinta Energy, adding a stable long-term sales stream and reinforcing its gas business. Chevron Australia signs five-year gas supply agreement with Alinta Energy
• Positive Sentiment: Chevron also expanded its technology/licensing efforts and its Microsoft power partnership, which could support long-term growth beyond oil and gas pricing. Can Chevron’s Microsoft Partnership Power the Next Leg of Growth?
• Neutral Sentiment: UBS reiterated a Buy rating, which may help sentiment but does not by itself change Chevron’s fundamentals. UBS Keeps Their Buy Rating on Chevron (CVX)
• Negative Sentiment: New U.S. Russia sanctions proposals could tighten global energy trade flows and add policy uncertainty, even if they may also support oil prices. Bipartisan Senators Reach Agreement With Trump Administration to Advance New Russia Sanctions Bill

Chevron Stock Up 1.3%

NYSE:CVX traded up $2.24 on Friday, reaching $176.29. 5,984,338 shares of the stock traded hands, compared to its average volume of 9,284,713. The company has a market capitalization of $351.10 billion, a price-to-earnings ratio of 30.55, a PEG ratio of 0.59 and a beta of 0.50. The company has a current ratio of 1.09, a quick ratio of 0.84 and a debt-to-equity ratio of 0.21. Chevron Corporation has a 12 month low of $146.49 and a 12 month high of $214.71. The company’s fifty day simple moving average is $181.92 and its 200 day simple moving average is $181.29.

Chevron (NYSE:CVX) last issued its earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.41. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The firm had revenue of $47.56 billion for the quarter, compared to the consensus estimate of $51.86 billion. During the same quarter in the prior year, the firm posted $2.18 earnings per share. The business’s revenue was up 2.1% on a year-over-year basis. Equities analysts predict that Chevron Corporation will post 15.28 EPS for the current fiscal year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 19th were paid a dividend of $1.78 per share. This represents a $7.12 annualized dividend and a yield of 4.0%. The ex-dividend date was Tuesday, May 19th. Chevron’s dividend payout ratio (DPR) is currently 123.40%.

Analyst Ratings Changes

Several equities analysts have commented on the company. UBS Group reissued a “buy” rating on shares of Chevron in a research report on Tuesday, June 23rd. The Goldman Sachs Group restated a “buy” rating and issued a $216.00 price objective on shares of Chevron in a report on Wednesday, May 6th. Wolfe Research upgraded shares of Chevron from a “peer perform” rating to an “outperform” rating and set a $210.00 target price for the company in a report on Thursday, July 2nd. Mizuho boosted their price target on Chevron from $225.00 to $230.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 27th. Finally, BNP Paribas Exane upgraded Chevron from a “neutral” rating to an “outperform” rating and set a $174.00 price target on the stock in a research note on Friday, April 17th. Nineteen research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Chevron currently has an average rating of “Moderate Buy” and an average price target of $206.83.

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.