Chevron Corporation $CVX Shares Sold by Arvest Bank Trust Division

Arvest Bank Trust Division lessened its position in shares of Chevron Corporation (NYSE:CVX) by 22.8% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 15,079 shares of the oil and gas company’s stock after selling 4,461 shares during the quarter. Arvest Bank Trust Division’s holdings in Chevron were worth $2,159,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Harvest Fund Management Co. Ltd grew its holdings 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 acquiring an additional 122 shares during the period. Elequin Capital LP acquired a new position in Chevron during the first quarter worth $31,000. Quaker Wealth Management LLC raised its position in shares of Chevron by 197.7% during the 2nd quarter. Quaker Wealth Management LLC now owns 217 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 439 shares during the last quarter. IMG Wealth Management Inc. lifted its position in shares of Chevron by 52.3% in the second quarter. IMG Wealth Management Inc. now owns 265 shares of the oil and gas company’s stock valued at $38,000 after acquiring an additional 91 shares in the last quarter. Finally, Investment Management Corp VA ADV lifted its holdings in Chevron by 171.3% in the 1st quarter. Investment Management Corp VA ADV now owns 236 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 149 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on CVX shares. TD Cowen boosted their target price on Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a report on Monday, August 4th. Wells Fargo & Company started coverage on shares of Chevron in a research note on Friday, October 17th. They set an “overweight” rating and a $190.00 price target on the stock. Jefferies Financial Group reiterated a “buy” rating on shares of Chevron in a report on Friday, July 18th. Barclays lowered their target price on shares of Chevron from $160.00 to $158.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 7th. Finally, UBS Group increased their target price on shares of Chevron from $186.00 to $197.00 and gave the company a “buy” rating in a research report on Wednesday, August 20th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, Chevron has an average rating of “Hold” and an average target price of $166.25.

Insider Transactions at Chevron

In other news, 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 transaction, the vice president directly owned 1,181 shares of the company’s stock, valued at $188,960. This represents a 77.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John B. Hess sold 375,000 shares of the company’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $158.30, for a total transaction of $59,362,500.00. Following the transaction, the director owned 1,403,045 shares in the company, valued at $222,102,023.50. The trade was a 21.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.21% of the stock is owned by company insiders.

Chevron Stock Performance

NYSE CVX opened at $155.42 on Friday. The firm has a market cap of $312.95 billion, a P/E ratio of 20.00, a P/E/G ratio of 4.40 and a beta of 0.83. Chevron Corporation has a 52-week low of $132.04 and a 52-week high of $168.96. The business’s 50-day moving average price is $155.19 and its 200 day moving average price is $150.10. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, October 31st. The oil and gas company reported $1.85 earnings per share for the quarter, topping analysts’ consensus estimates of $1.71 by $0.14. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The company had revenue of $48.17 billion during the quarter, compared to analysts’ expectations of $46.99 billion. During the same period last year, the firm earned $2.48 EPS. The firm’s revenue for the quarter was down 1.9% on a year-over-year basis. On average, equities research analysts expect that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Tuesday, November 18th will be paid a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.4%. The ex-dividend date is Tuesday, November 18th. Chevron’s dividend payout ratio (DPR) is 96.20%.

About Chevron

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.