AR Asset Management Inc. Buys 100 Shares of Chevron Co. (NYSE:CVX)

AR Asset Management Inc. raised its stake in Chevron Co. (NYSE:CVXGet Rating) by 0.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 115,236 shares of the oil and gas company’s stock after buying an additional 100 shares during the quarter. Chevron accounts for about 5.0% of AR Asset Management Inc.’s holdings, making the stock its 2nd biggest position. AR Asset Management Inc.’s holdings in Chevron were worth $16,556,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in the stock. Cantor Fitzgerald Investment Advisor L.P increased its stake in shares of Chevron by 85.1% during the 1st quarter. Cantor Fitzgerald Investment Advisor L.P now owns 159,115 shares of the oil and gas company’s stock worth $25,908,000 after purchasing an additional 73,141 shares during the last quarter. Axiom Financial Strategies LLC increased its stake in shares of Chevron by 25.2% during the 1st quarter. Axiom Financial Strategies LLC now owns 7,335 shares of the oil and gas company’s stock worth $1,155,000 after purchasing an additional 1,476 shares during the last quarter. GQG Partners LLC increased its stake in shares of Chevron by 4.7% during the 1st quarter. GQG Partners LLC now owns 40,538 shares of the oil and gas company’s stock worth $6,598,000 after purchasing an additional 1,813 shares during the last quarter. Lumature Wealth Partners LLC increased its stake in shares of Chevron by 43.5% during the 1st quarter. Lumature Wealth Partners LLC now owns 5,837 shares of the oil and gas company’s stock worth $950,000 after purchasing an additional 1,770 shares during the last quarter. Finally, First Trust Advisors LP increased its stake in shares of Chevron by 13.8% during the 1st quarter. First Trust Advisors LP now owns 2,068,600 shares of the oil and gas company’s stock worth $336,830,000 after purchasing an additional 250,840 shares during the last quarter. Institutional investors and hedge funds own 69.37% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on CVX. Cowen increased their price target on shares of Chevron from $160.00 to $185.00 and gave the stock an “outperform” rating in a research note on Monday, October 31st. Wells Fargo & Company upped their price objective on shares of Chevron from $199.00 to $202.00 and gave the stock an “overweight” rating in a report on Tuesday, January 10th. Citigroup upped their price objective on shares of Chevron from $155.00 to $180.00 in a report on Tuesday, November 22nd. Jefferies Financial Group began coverage on shares of Chevron in a report on Wednesday, October 19th. They set a “hold” rating for the company. Finally, Mizuho downgraded shares of Chevron from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $185.00 to $200.00 in a report on Tuesday, January 10th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $186.67.

Chevron Price Performance

Shares of Chevron stock opened at $177.56 on Monday. The firm has a fifty day moving average price of $178.08 and a two-hundred day moving average price of $164.25. The company has a market cap of $343.34 billion, a PE ratio of 10.10, a price-to-earnings-growth ratio of 0.79 and a beta of 1.18. Chevron Co. has a fifty-two week low of $122.84 and a fifty-two week high of $189.68. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.40 and a quick ratio of 1.15.

Chevron (NYSE:CVXGet Rating) last released its quarterly earnings data on Friday, October 28th. The oil and gas company reported $5.56 EPS for the quarter, topping analysts’ consensus estimates of $5.02 by $0.54. The company had revenue of $66.64 billion during the quarter, compared to the consensus estimate of $61.44 billion. Chevron had a net margin of 14.36% and a return on equity of 22.36%. The firm’s revenue for the quarter was up 49.1% compared to the same quarter last year. During the same period last year, the firm earned $2.96 EPS. Analysts expect that Chevron Co. will post 19.03 EPS for the current year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 12th. Stockholders of record on Friday, November 18th were issued a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date of this dividend was Thursday, November 17th. Chevron’s payout ratio is 32.31%.

Insider Transactions at Chevron

In other news, VP R. Hewitt Pate sold 32,391 shares of the firm’s stock in a transaction dated Thursday, November 3rd. The shares were sold at an average price of $180.00, for a total transaction of $5,830,380.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, VP R. Hewitt Pate sold 32,391 shares of the stock in a transaction dated Thursday, November 3rd. The shares were sold at an average price of $180.00, for a total transaction of $5,830,380.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Pierre R. Breber sold 25,000 shares of the stock in a transaction dated Monday, November 28th. The stock was sold at an average price of $179.64, for a total transaction of $4,491,000.00. Following the sale, the chief financial officer now owns 8 shares of the company’s stock, valued at approximately $1,437.12. The disclosure for this sale can be found here. In the last three months, insiders sold 293,563 shares of company stock valued at $53,186,421. Company insiders own 0.32% of the company’s stock.

Chevron Profile

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Chevron Corporation, through its subsidiaries, engages in integrated energy and chemicals operations worldwide. 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 associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.

Further Reading

Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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