Chevron Co. (NYSE:CVX) Shares Bought by Arbor Trust Wealth Advisors LLC

Arbor Trust Wealth Advisors LLC raised its stake in Chevron Co. (NYSE:CVX) by 4.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,102 shares of the oil and gas company’s stock after acquiring an additional 665 shares during the period. Chevron accounts for about 1.3% of Arbor Trust Wealth Advisors LLC’s investment portfolio, making the stock its 25th biggest holding. Arbor Trust Wealth Advisors LLC’s holdings in Chevron were worth $2,253,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CVX. Moneta Group Investment Advisors LLC raised its holdings in Chevron by 104,997.3% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 24,490,824 shares of the oil and gas company’s stock worth $4,395,858,000 after purchasing an additional 24,467,521 shares in the last quarter. Norges Bank bought a new stake in Chevron during the fourth quarter worth approximately $3,058,235,000. Imprint Wealth LLC raised its holdings in Chevron by 15,457.0% during the second quarter. Imprint Wealth LLC now owns 5,378,354 shares of the oil and gas company’s stock worth $537,835,000 after purchasing an additional 5,343,782 shares in the last quarter. Morgan Stanley grew its position in Chevron by 12.7% in the fourth quarter. Morgan Stanley now owns 32,906,060 shares of the oil and gas company’s stock worth $5,906,309,000 after buying an additional 3,711,923 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its stake in Chevron by 15,548.2% in 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 acquiring an additional 3,181,946 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on CVX. Mizuho lifted their price target 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. Scotiabank raised shares of Chevron from a “sector perform” rating to a “sector outperform” rating and boosted their price objective for the company from $170.00 to $195.00 in a research report on Thursday, April 11th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Chevron in a research report on Monday, April 1st. TD Cowen cut shares of Chevron from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $170.00 to $150.00 in a research report on Tuesday, January 23rd. Finally, DZ Bank cut shares of Chevron from a “buy” rating to a “hold” rating and set a $160.00 price objective on the stock. in a research report on Tuesday, February 6th. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $183.55.

Chevron Trading Down 0.8 %

Shares of CVX stock traded down $1.31 during trading hours on Wednesday, hitting $156.28. 5,541,895 shares of the company’s stock traded hands, compared to its average volume of 7,275,755. The stock’s 50 day simple moving average is $155.11 and its 200 day simple moving average is $151.83. The stock has a market cap of $290.25 billion, a PE ratio of 13.76, a price-to-earnings-growth ratio of 2.37 and a beta of 1.12. Chevron Co. has a 12 month low of $139.62 and a 12 month high of $172.54. The company has a quick ratio of 1.01, a current ratio of 1.27 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last announced its earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share for the quarter, topping analysts’ consensus estimates of $3.19 by $0.26. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The business had revenue of $47.18 billion during the quarter, compared to the consensus estimate of $50.93 billion. During the same quarter last year, the firm earned $4.09 earnings per share. Chevron’s quarterly revenue was down 16.5% on a year-over-year basis. On average, sell-side analysts anticipate that Chevron Co. will post 13.28 EPS for the current year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Friday, February 16th were paid a $1.63 dividend. This is an increase from Chevron’s previous quarterly dividend of $1.51. This represents a $6.52 annualized dividend and a yield of 4.17%. The ex-dividend date was Thursday, February 15th. Chevron’s payout ratio is 57.39%.

Insider Activity

In other news, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total transaction of $448,252.00. Following the completion of the transaction, the vice president now directly owns 276 shares in the company, valued at $44,184.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.18% 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.