Arvest Investments Inc. Sells 2,744 Shares of Chevron Co. (NYSE:CVX)

Arvest Investments Inc. cut its position in shares of Chevron Co. (NYSE:CVX) by 14.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,017 shares of the oil and gas company’s stock after selling 2,744 shares during the quarter. Arvest Investments Inc.’s holdings in Chevron were worth $2,527,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of CVX. Alps Advisors Inc. acquired a new stake in shares of Chevron during the third quarter worth $347,000. The Manufacturers Life Insurance Company grew its holdings in Chevron by 12.7% in the third quarter. The Manufacturers Life Insurance Company now owns 1,580,870 shares of the oil and gas company’s stock worth $266,566,000 after purchasing an additional 177,944 shares during the period. Ramirez Asset Management Inc. acquired a new stake in Chevron in the third quarter worth $78,000. Holderness Investments Co. grew its holdings in Chevron by 4.4% in the third quarter. Holderness Investments Co. now owns 12,231 shares of the oil and gas company’s stock worth $2,062,000 after purchasing an additional 517 shares during the period. Finally, Integrated Wealth Concepts LLC grew its holdings in Chevron by 1.9% in the third quarter. Integrated Wealth Concepts LLC now owns 106,355 shares of the oil and gas company’s stock worth $17,934,000 after purchasing an additional 2,019 shares during the period. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. The Goldman Sachs Group restated a “buy” rating on shares of Chevron in a report on Monday, April 1st. TD Cowen raised their price target on shares of Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a report on Monday, April 29th. Mizuho raised their price target on shares of Chevron from $200.00 to $205.00 and gave the stock a “buy” rating in a report on Monday, May 13th. Barclays started coverage on shares of Chevron in a report on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 price target for the company. Finally, HSBC raised their price objective on shares of Chevron from $175.00 to $178.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $186.95.

Chevron Stock Down 0.0 %

CVX opened at $156.71 on Friday. 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 company’s 50-day moving average is $158.85 and its 200 day moving average is $154.89. Chevron Co. has a fifty-two week low of $139.62 and a fifty-two week high of $171.70. The firm has a market capitalization of $288.81 billion, a P/E ratio of 14.42, a PEG ratio of 2.38 and a beta of 1.10.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, beating analysts’ consensus estimates of $2.84 by $0.09. Chevron had a net margin of 10.21% and a return on equity of 14.40%. The company had revenue of $48.72 billion for the quarter, compared to analyst estimates of $48.42 billion. During the same period last year, the firm earned $3.55 earnings per share. The firm’s revenue was down 4.1% on a year-over-year basis. Research analysts expect that Chevron Co. will post 13.15 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 17th were given a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 4.16%. The ex-dividend date of this dividend was Thursday, May 16th. Chevron’s dividend payout ratio is 59.98%.

Insiders Place Their Bets

In other Chevron news, Director Enrique Hernandez, Jr. sold 2,549 shares of Chevron stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $161.00, for a total value of $410,389.00. Following the sale, the director now owns 7,647 shares of the company’s stock, valued at $1,231,167. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Chevron news, Director Enrique Hernandez, Jr. sold 2,549 shares of Chevron stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $161.00, for a total value of $410,389.00. Following the sale, the director now owns 7,647 shares of the company’s stock, valued at $1,231,167. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Jeff B. Gustavson sold 3,750 shares of Chevron stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $160.23, for a total transaction of $600,862.50. Following the completion of the sale, the vice president now directly owns 477 shares in the company, valued at approximately $76,429.71. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 16,746 shares of company stock valued at $2,727,971. Company insiders own 0.20% of the company’s stock.

Chevron Profile

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.