ARS Investment Partners LLC Buys 2,447 Shares of Chevron Co. (NYSE:CVX)

ARS Investment Partners LLC boosted its holdings in shares of Chevron Co. (NYSE:CVX - Free Report) by 3.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 74,318 shares of the oil and gas company's stock after buying an additional 2,447 shares during the quarter. ARS Investment Partners LLC's holdings in Chevron were worth $10,764,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Marietta Wealth Management LLC lifted its position in Chevron by 10.9% during the third quarter. Marietta Wealth Management LLC now owns 40,484 shares of the oil and gas company's stock worth $5,962,000 after acquiring an additional 3,965 shares during the last quarter. Leo Wealth LLC increased its stake in shares of Chevron by 19.6% during the third quarter. Leo Wealth LLC now owns 8,246 shares of the oil and gas company's stock worth $1,214,000 after purchasing an additional 1,354 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Chevron by 11.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 31,108,760 shares of the oil and gas company's stock worth $4,581,137,000 after purchasing an additional 3,203,899 shares during the last quarter. RPG Investment Advisory LLC boosted its stake in Chevron by 3.4% in the 3rd quarter. RPG Investment Advisory LLC now owns 121,167 shares of the oil and gas company's stock valued at $17,844,000 after purchasing an additional 3,933 shares during the period. Finally, State Street Corp grew its holdings in Chevron by 0.6% in the 3rd quarter. State Street Corp now owns 159,105,244 shares of the oil and gas company's stock valued at $23,431,429,000 after buying an additional 874,962 shares in the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CVX has been the topic of a number of analyst reports. Scotiabank reduced their price target 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. Barclays boosted their price target on Chevron from $168.00 to $174.00 and gave the company an "overweight" rating in a research note on Monday, November 4th. Piper Sandler decreased their target price on shares of Chevron from $184.00 to $173.00 and set an "overweight" rating on the stock in a report on Thursday, December 19th. UBS Group upped their price target on shares of Chevron from $194.00 to $195.00 and gave the stock a "buy" rating in a report on Tuesday, December 3rd. Finally, Wells Fargo & Company lifted their price objective on shares of Chevron from $171.00 to $188.00 and gave the company an "overweight" rating in a research note on Monday, December 9th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $175.27.

Insiders Place Their Bets

In related news, CEO Michael K. Wirth sold 164,600 shares of the firm's stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total value of $26,357,398.00. Following the transaction, the chief executive officer now directly owns 4,280 shares of the company's stock, 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. Insiders own 0.20% of the company's stock.

Chevron Stock Down 1.2 %

Shares of CVX stock traded down $1.85 during mid-day trading on Wednesday, reaching $156.39. 7,230,699 shares of the company's stock traded hands, compared to its average volume of 8,002,224. The company's 50-day moving average price is $154.09 and its 200-day moving average price is $151.07. The company has a market cap of $281.05 billion, a P/E ratio of 17.19, a P/E/G ratio of 1.45 and a beta of 1.12. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $167.11. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX - Get Free Report) last posted its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, topping the consensus estimate of $2.47 by $0.04. The firm had revenue of $50.67 billion during the quarter, compared to analysts' expectations of $48.86 billion. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The company's revenue was down 6.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.05 earnings per share. On average, equities analysts expect that Chevron Co. will post 10.18 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th were issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 4.17%. The ex-dividend date was Monday, November 18th. Chevron's dividend payout ratio is 71.65%.

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.