ARS Investment Partners LLC Purchases 1,527 Shares of Chevron Co. (NYSE:CVX)

ARS Investment Partners LLC lifted its position in shares of Chevron Co. (NYSE:CVX) by 2.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 72,457 shares of the oil and gas company’s stock after purchasing an additional 1,527 shares during the period. ARS Investment Partners LLC’s holdings in Chevron were worth $11,334,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Kapstone Financial Advisors LLC raised its position in shares of Chevron by 5.3% in the 4th quarter. Kapstone Financial Advisors LLC now owns 4,216 shares of the oil and gas company’s stock valued at $626,000 after buying an additional 211 shares in the last quarter. Eagle Capital Management LLC raised its position in Chevron by 0.5% during the first quarter. Eagle Capital Management LLC now owns 34,455 shares of the oil and gas company’s stock valued at $5,435,000 after purchasing an additional 163 shares in the last quarter. Lane & Associates LLC acquired a new stake in shares of Chevron in the 1st quarter valued at $345,000. Guyasuta Investment Advisors Inc. increased its stake in shares of Chevron by 1.7% in the 4th quarter. Guyasuta Investment Advisors Inc. now owns 216,593 shares of the oil and gas company’s stock valued at $32,307,000 after purchasing an additional 3,603 shares during the last quarter. Finally, Seven Mile Advisory raised its holdings in shares of Chevron by 9.8% during the 4th quarter. Seven Mile Advisory now owns 2,766 shares of the oil and gas company’s stock worth $413,000 after buying an additional 247 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on CVX shares. Piper Sandler increased their price objective on shares of Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a research note on Thursday, April 18th. Sanford C. Bernstein lowered shares of Chevron from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $183.00 to $167.00 in a report on Wednesday, July 17th. Barclays cut their price target on shares of Chevron from $203.00 to $185.00 and set an “overweight” rating on the stock in a report on Tuesday, August 6th. Royal Bank of Canada decreased their price objective on Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a report on Monday, August 5th. Finally, Wells Fargo & Company lifted their target price on Chevron from $198.00 to $206.00 and gave the stock an “overweight” rating in a report on Tuesday, April 30th. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $183.82.

Chevron Trading Up 0.2 %

Shares of CVX traded up $0.33 during trading hours on Friday, reaching $147.13. 3,773,973 shares of the company traded hands, compared to its average volume of 7,863,050. Chevron Co. has a 12 month low of $139.62 and a 12 month high of $171.70. The company has a market capitalization of $271.16 billion, a price-to-earnings ratio of 13.53, a price-to-earnings-growth ratio of 2.42 and a beta of 1.10. The company’s fifty day moving average price is $154.00 and its two-hundred day moving average price is $155.93. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last released its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). The firm had revenue of $51.18 billion during the quarter, compared to analysts’ expectations of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.08 EPS. Equities research analysts predict that Chevron Co. will post 11.96 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th will be paid a $1.63 dividend. The ex-dividend date of this dividend is Monday, August 19th. This represents a $6.52 annualized dividend and a dividend yield of 4.43%. Chevron’s dividend payout ratio is presently 59.98%.

Insider Activity at Chevron

In related news, VP Jeff B. Gustavson sold 3,750 shares of the stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $160.23, for a total transaction of $600,862.50. Following the sale, the vice president now directly owns 477 shares of the company’s stock, valued at $76,429.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.20% of the stock is currently owned by insiders.

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.