Chevron Co. (NYSE:CVX) Shares Sold by Arvest Investments Inc.

Arvest Investments Inc. lessened its holdings in Chevron Co. (NYSE:CVX) by 4.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 12,117 shares of the oil and gas company’s stock after selling 630 shares during the quarter. Arvest Investments Inc.’s holdings in Chevron were worth $2,027,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in CVX. Life Planning Partners Inc purchased a new position in shares of Chevron in the fourth quarter worth about $25,000. IMG Wealth Management Inc. purchased a new position in shares of Chevron in the fourth quarter worth about $25,000. Mizuho Securities Co. Ltd. purchased a new position in shares of Chevron in the fourth quarter worth about $29,000. 10Elms LLP purchased a new position in shares of Chevron in the fourth quarter worth about $29,000. Finally, Fairway Wealth LLC raised its stake in shares of Chevron by 75.9% in the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock worth $30,000 after purchasing an additional 88 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Trading Up 1.0%

Shares of NYSE:CVX opened at $144.83 on Thursday. Chevron Co. has a 1 year low of $132.04 and a 1 year high of $168.96. The firm has a market capitalization of $252.93 billion, a price-to-earnings ratio of 14.90, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The business’s 50 day moving average price is $138.24 and its 200-day moving average price is $149.42.

Chevron (NYSE:CVX) last announced its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.15 by $0.03. Chevron had a return on equity of 11.44% and a net margin of 8.71%. The firm had revenue of $47.61 billion for the quarter, compared to analyst estimates of $49.05 billion. During the same quarter last year, the firm posted $2.93 EPS. The business’s revenue was down 2.3% on a year-over-year basis. On average, equities research analysts forecast that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 4.72%. The ex-dividend date was Monday, May 19th. Chevron’s payout ratio is 78.17%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CVX. TD Cowen reduced their price objective on Chevron from $155.00 to $150.00 and set a “hold” rating for the company in a research note on Monday, May 5th. Mizuho reduced their price target on Chevron from $188.00 to $186.00 and set an “outperform” rating for the company in a research report on Tuesday, May 13th. Redburn Atlantic reiterated a “sell” rating and set a $124.00 price target (down from $156.00) on shares of Chevron in a research report on Wednesday, April 23rd. Scotiabank cut Chevron from a “sector outperform” rating to a “sector perform” rating and reduced their price target for the company from $160.00 to $143.00 in a research report on Friday, April 11th. Finally, Barclays cut Chevron from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $171.00 to $152.00 in a research report on Wednesday, April 23rd. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, Chevron presently has an average rating of “Hold” and an average target price of $160.24.

Chevron Company 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.