AR Asset Management Inc. Raises Stake in Chevron Co. (NYSE:CVX)

AR Asset Management Inc. boosted its position in shares of Chevron Co. (NYSE:CVXFree Report) by 0.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 113,304 shares of the oil and gas company’s stock after acquiring an additional 168 shares during the period. Chevron accounts for about 4.4% of AR Asset Management Inc.’s investment portfolio, making the stock its 3rd largest position. AR Asset Management Inc.’s holdings in Chevron were worth $16,900,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CVX. International Assets Investment Management LLC raised its position in shares of Chevron by 15,548.2% during the fourth quarter. International Assets Investment Management LLC now owns 3,202,411 shares of the oil and gas company’s stock valued at $4,776,720,000 after buying an additional 3,181,946 shares during the last quarter. Morgan Stanley raised its position in shares of Chevron by 7.0% during the third quarter. Morgan Stanley now owns 34,166,899 shares of the oil and gas company’s stock valued at $5,761,223,000 after buying an additional 2,244,995 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC bought a new stake in shares of Chevron during the third quarter valued at approximately $348,789,000. Charles Schwab Investment Management Inc. raised its position in shares of Chevron by 8.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 26,235,473 shares of the oil and gas company’s stock valued at $3,886,821,000 after buying an additional 1,999,332 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its holdings in shares of Chevron by 36.4% in the third quarter. Envestnet Asset Management Inc. now owns 4,614,498 shares of the oil and gas company’s stock valued at $778,097,000 after purchasing an additional 1,230,619 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CVX. TD Cowen raised their target price on shares of Chevron from $155.00 to $160.00 and gave the company a “hold” rating in a report on Monday, April 29th. Barclays began coverage on shares of Chevron in a report on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 target price for the company. UBS Group raised their target price on shares of Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a report on Tuesday, April 9th. Truist Financial raised their target price on shares of Chevron from $156.00 to $166.00 and gave the company a “hold” rating in a report on Friday. Finally, Mizuho lifted their price objective on shares of Chevron from $195.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $185.85.

Check Out Our Latest Analysis on Chevron

Insider Transactions at Chevron

In other news, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $165.00, for a total transaction of $462,000.00. Following the sale, the vice president now owns 276 shares in the company, valued at $45,540. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Enrique Hernandez, Jr. sold 5,098 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $163.50, for a total value of $833,523.00. Following the sale, the director now owns 2,549 shares in the company, valued at $416,761.50. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Alana K. Knowles sold 2,800 shares of the company’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $165.00, for a total value of $462,000.00. Following the completion of the sale, the vice president now owns 276 shares in the company, valued at approximately $45,540. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 13,247 shares of company stock worth $2,154,164. Insiders own 0.20% of the company’s stock.

Chevron Stock Up 0.2 %

Chevron stock traded up $0.35 during trading hours on Friday, reaching $165.80. The stock had a trading volume of 5,489,358 shares, compared to its average volume of 8,394,107. The company has a market cap of $306.23 billion, a price-to-earnings ratio of 15.18, a PEG ratio of 2.37 and a beta of 1.11. 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 business’s 50 day moving average price is $158.10 and its 200-day moving average price is $151.63. Chevron Co. has a 52 week low of $139.62 and a 52 week high of $171.70.

Chevron (NYSE:CVXGet Free Report) last announced its earnings results on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, topping analysts’ consensus estimates of $2.84 by $0.09. The business had revenue of $48.72 billion during the quarter, compared to the consensus estimate of $48.42 billion. Chevron had a net margin of 10.21% and a return on equity of 14.40%. The firm’s revenue was down 4.1% on a year-over-year basis. During the same period in the previous year, the company posted $3.55 earnings per share. Sell-side analysts anticipate that Chevron Co. will post 13.53 EPS for the current year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 17th will be issued a $1.63 dividend. The ex-dividend date is Thursday, May 16th. This represents a $6.52 dividend on an annualized basis and a yield of 3.93%. Chevron’s dividend payout ratio is presently 59.98%.

About Chevron

(Free Report)

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.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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