Arkadios Wealth Advisors Raises Stock Position in Chevron Co. (NYSE:CVX)

Arkadios Wealth Advisors boosted its stake in shares of Chevron Co. (NYSE:CVX - Free Report) by 3.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 81,414 shares of the oil and gas company's stock after acquiring an additional 2,445 shares during the quarter. Chevron accounts for 0.6% of Arkadios Wealth Advisors' holdings, making the stock its 23rd largest position. Arkadios Wealth Advisors' holdings in Chevron were worth $11,792,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently made changes to their positions in CVX. Sei Investments Co. grew its holdings in Chevron by 8.5% in the second quarter. Sei Investments Co. now owns 659,273 shares of the oil and gas company's stock valued at $103,121,000 after purchasing an additional 51,564 shares during the period. Garden State Investment Advisory Services LLC grew its stake in Chevron by 10.0% in the 2nd quarter. Garden State Investment Advisory Services LLC now owns 2,319 shares of the oil and gas company's stock valued at $364,000 after acquiring an additional 210 shares during the period. Sound Shore Management Inc. CT increased its holdings in Chevron by 18.5% in the 2nd quarter. Sound Shore Management Inc. CT now owns 85,155 shares of the oil and gas company's stock worth $13,320,000 after acquiring an additional 13,315 shares in the last quarter. Summit Trail Advisors LLC raised its position in Chevron by 29.3% during the second quarter. Summit Trail Advisors LLC now owns 42,370 shares of the oil and gas company's stock worth $6,628,000 after acquiring an additional 9,600 shares during the period. Finally, Arista Wealth Management LLC purchased a new position in Chevron during the second quarter valued at $221,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Chevron

In other news, CEO Michael K. Wirth sold 164,600 shares of the firm's stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total value of $26,357,398.00. Following the sale, the chief executive officer now directly owns 4,280 shares in the company, valued at approximately $685,356.40. This trade represents a 97.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.20% of the stock is currently owned by company insiders.

Chevron Trading Up 1.4 %

Chevron stock traded up $2.16 during trading on Friday, hitting $161.54. The company had a trading volume of 9,233,657 shares, compared to its average volume of 7,835,055. The stock has a market cap of $290.30 billion, a price-to-earnings ratio of 17.75, a price-to-earnings-growth ratio of 2.62 and a beta of 1.12. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11. The company's 50 day simple moving average is $153.93 and its 200-day simple moving average is $151.05.

Chevron (NYSE:CVX - Get Free Report) last issued its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, beating analysts' consensus estimates of $2.47 by $0.04. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The business had revenue of $50.67 billion during the quarter, compared to analysts' expectations of $48.86 billion. During the same period in the previous year, the firm posted $3.05 earnings per share. The company's revenue was down 6.3% on a year-over-year basis. As a group, analysts expect that Chevron Co. will post 10.39 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th were paid a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 4.04%. The ex-dividend date of this dividend was Monday, November 18th. Chevron's payout ratio is 71.65%.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Piper Sandler cut their target price on shares of Chevron from $184.00 to $173.00 and set an "overweight" rating for the company in a research note on Thursday, December 19th. Barclays increased their price objective on shares of Chevron from $168.00 to $174.00 and gave the company an "overweight" rating in a report on Monday, November 4th. Bank of America assumed coverage on Chevron in a report on Thursday, October 17th. They set a "buy" rating and a $168.00 target price on the stock. Scotiabank reduced their price objective on Chevron from $180.00 to $163.00 and set a "sector outperform" rating on the stock in a research report on Thursday, October 10th. Finally, DZ Bank raised Chevron from a "hold" rating to a "buy" rating and set a $170.00 target price for the company in a research note on Tuesday, November 5th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat.com, Chevron has an average rating of "Moderate Buy" and a consensus target price of $175.27.

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.