Chevron Corporation $CVX Shares Sold by Arvest Investments Inc.

Arvest Investments Inc. decreased its stake in shares of Chevron Corporation (NYSE:CVX) by 31.0% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 8,366 shares of the oil and gas company’s stock after selling 3,751 shares during the quarter. Arvest Investments Inc.’s holdings in Chevron were worth $1,198,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Harvest Fund Management Co. Ltd increased its position in Chevron by 420.7% during the first quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 122 shares during the last quarter. 10Elms LLP acquired a new position in Chevron during the fourth quarter worth approximately $29,000. Elequin Capital LP acquired a new position in Chevron during the first quarter worth approximately $31,000. IFS Advisors LLC increased its position in Chevron by 119.6% during the first quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company’s stock worth $36,000 after purchasing an additional 116 shares during the last quarter. Finally, Cloud Capital Management LLC acquired a new position in Chevron during the first quarter worth approximately $39,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on CVX. Wells Fargo & Company reiterated an “overweight” rating and set a $178.00 price objective on shares of Chevron in a research note on Friday, August 1st. Barclays reiterated an “equal weight” rating on shares of Chevron in a research note on Tuesday, July 15th. Raymond James Financial reiterated an “outperform” rating on shares of Chevron in a research note on Friday, August 1st. Jefferies Financial Group reiterated a “buy” rating on shares of Chevron in a research note on Friday, July 18th. Finally, Bank of America boosted their price objective on shares of Chevron from $170.00 to $185.00 and gave the stock a “buy” rating in a research note on Wednesday. Eleven investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, Chevron has an average rating of “Hold” and an average price target of $164.80.

Chevron Price Performance

Shares of CVX stock opened at $157.23 on Friday. The company has a market capitalization of $271.69 billion, a PE ratio of 20.24, a price-to-earnings-growth ratio of 2.00 and a beta of 0.90. The firm has a fifty day simple moving average of $154.67 and a 200-day simple moving average of $148.85. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96.

Chevron (NYSE:CVX) last announced its earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.19. The business had revenue of $44.82 billion during the quarter, compared to the consensus estimate of $44.59 billion. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The business’s quarterly revenue was down 12.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.55 earnings per share. Equities research analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were paid a $1.71 dividend. The ex-dividend date was Tuesday, August 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.4%. Chevron’s dividend payout ratio is 88.03%.

Insider Buying and Selling at Chevron

In related news, Director John B. Hess sold 375,000 shares of the company’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $158.30, for a total value of $59,362,500.00. Following the sale, the director directly owned 1,403,045 shares of the company’s stock, valued at $222,102,023.50. This represents a 21.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Alana K. Knowles sold 3,978 shares of the company’s stock in a transaction on Friday, August 29th. The shares were sold at an average price of $160.00, for a total transaction of $636,480.00. Following the completion of the sale, the vice president directly owned 1,181 shares in the company, valued at $188,960. This represents a 77.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by corporate insiders.

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.