ARS Wealth Advisors Group LLC Sells 4,231 Shares of Chevron Co. (NYSE:CVX)

ARS Wealth Advisors Group LLC reduced its stake in Chevron Co. (NYSE:CVX) by 6.4% in the 4th quarter, HoldingsChannel reports. The firm owned 62,213 shares of the oil and gas company’s stock after selling 4,231 shares during the quarter. Chevron makes up 1.4% of ARS Wealth Advisors Group LLC’s portfolio, making the stock its 27th biggest position. ARS Wealth Advisors Group LLC’s holdings in Chevron were worth $9,280,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. International Assets Investment Management LLC increased 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 worth $4,776,720,000 after acquiring an additional 3,181,946 shares in the last quarter. Morgan Stanley increased 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 worth $5,761,223,000 after acquiring an additional 2,244,995 shares in the last quarter. J.P. Morgan Private Wealth Advisors LLC bought a new stake in shares of Chevron during the third quarter worth about $348,789,000. Envestnet Asset Management Inc. increased its position in shares of Chevron by 36.4% during the third quarter. Envestnet Asset Management Inc. now owns 4,614,498 shares of the oil and gas company’s stock worth $778,097,000 after acquiring an additional 1,230,619 shares in the last quarter. Finally, California Public Employees Retirement System increased its position in shares of Chevron by 28.3% during the third quarter. California Public Employees Retirement System now owns 4,179,942 shares of the oil and gas company’s stock worth $704,822,000 after acquiring an additional 923,119 shares in the last quarter. 72.42% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CVX has been the subject of several recent research reports. Scotiabank raised shares of Chevron from a “sector perform” rating to a “sector outperform” rating and boosted their target price for the stock from $170.00 to $195.00 in a research report on Thursday, April 11th. Piper Sandler boosted their target price on shares of Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a research report on Thursday, April 18th. Jefferies Financial Group raised shares of Chevron from a “hold” rating to a “buy” rating and set a $184.00 price objective for the company in a research report on Monday, January 8th. HSBC upped their price objective on shares of Chevron from $175.00 to $178.00 and gave the stock a “buy” rating in a research report on Tuesday, April 30th. Finally, Mizuho upped their price objective on shares of Chevron from $195.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, Chevron has a consensus rating of “Moderate Buy” and a consensus price target of $185.35.

Insiders Place Their Bets

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the 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 sale, the vice president now directly owns 276 shares in the company, valued at approximately $45,540. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.20% of the company’s stock.

Chevron Stock Performance

Shares of CVX stock traded down $0.48 during trading on Friday, reaching $160.25. 11,664,505 shares of the company’s stock traded hands, compared to its average volume of 7,516,580. The company has a market capitalization of $297.63 billion, a P/E ratio of 14.74, a PEG ratio of 2.37 and a beta of 1.11. The company has a current ratio of 1.27, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. The firm’s 50-day moving average is $157.26 and its 200 day moving average is $151.76. Chevron Co. has a 1 year low of $139.62 and a 1 year high of $171.70.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.93 EPS 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 14.38%. The company had revenue of $48.72 billion for the quarter, compared to analysts’ expectations of $48.42 billion. During the same period in the prior year, the company posted $3.55 EPS. Chevron’s revenue was down 4.1% compared to the same quarter last year. Equities research analysts expect that Chevron Co. will post 13.53 EPS for the current year.

Chevron Announces Dividend

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 paid a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 4.07%. The ex-dividend date of this dividend is Thursday, May 16th. Chevron’s dividend payout ratio is presently 59.98%.

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.