Chevron Corporation $CVX Shares Purchased by Arkadios Wealth Advisors

Arkadios Wealth Advisors increased its position in Chevron Corporation (NYSE:CVX) by 10.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 125,078 shares of the oil and gas company’s stock after buying an additional 11,547 shares during the period. Arkadios Wealth Advisors’ holdings in Chevron were worth $19,423,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. CX Institutional lifted its stake in Chevron by 5.7% during the second quarter. CX Institutional now owns 52,528 shares of the oil and gas company’s stock worth $7,521,000 after purchasing an additional 2,852 shares during the last quarter. Abound Wealth Management raised its position in shares of Chevron by 15.4% during the 2nd quarter. Abound Wealth Management now owns 704 shares of the oil and gas company’s stock worth $101,000 after buying an additional 94 shares in the last quarter. Lewis Asset Management LLC raised its position in Chevron by 231.2% in the second quarter. Lewis Asset Management LLC now owns 10,146 shares of the oil and gas company’s stock worth $1,453,000 after acquiring an additional 7,083 shares in the last quarter. Financial Advisory Partners LLC lifted its position in shares of Chevron by 6.4% during the 2nd quarter. Financial Advisory Partners LLC now owns 20,289 shares of the oil and gas company’s stock valued at $2,905,000 after acquiring an additional 1,225 shares during the last quarter. Finally, Sweeney & Michel LLC increased its position in shares of Chevron by 8.1% in the second quarter. Sweeney & Michel LLC now owns 5,424 shares of the oil and gas company’s stock worth $842,000 after acquiring an additional 408 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Price Performance

Shares of NYSE CVX opened at $166.27 on Tuesday. The company has a fifty day moving average price of $153.67 and a 200 day moving average price of $154.39. Chevron Corporation has a 1-year low of $132.04 and a 1-year high of $169.37. The firm has a market cap of $334.79 billion, a PE ratio of 23.39, a PEG ratio of 10.29 and a beta of 0.70. The company has a current ratio of 1.15, a quick ratio of 0.86 and a debt-to-equity ratio of 0.19.

Chevron (NYSE:CVX) last released its earnings results on Friday, October 31st. The oil and gas company reported $1.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.71 by $0.14. The business had revenue of $48.17 billion for the quarter, compared to the consensus estimate of $46.99 billion. Chevron had a return on equity of 8.74% and a net margin of 6.57%.Chevron’s quarterly revenue was down 1.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.48 earnings per share. Research analysts predict that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 10th. Stockholders of record on Tuesday, November 18th were given a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend was Tuesday, November 18th. Chevron’s payout ratio is presently 96.20%.

Wall Street Analyst Weigh In

CVX has been the subject of several research reports. Zacks Research upgraded shares of Chevron from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 23rd. Wall Street Zen downgraded shares of Chevron from a “hold” rating to a “sell” rating in a report on Saturday, January 10th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Chevron in a research report on Thursday, January 8th. Citigroup decreased their price objective on Chevron from $185.00 to $179.00 and set a “buy” rating on the stock in a report on Monday, January 5th. Finally, Piper Sandler dropped their target price on Chevron from $178.00 to $174.00 and set an “overweight” rating for the company in a report on Thursday, January 8th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nine have assigned a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $168.27.

Insider Buying and Selling at Chevron

In other Chevron news, CFO Eimear P. Bonner sold 28,334 shares of the business’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $165.05, for a total transaction of $4,676,526.70. Following the sale, the chief financial officer owned 4,366 shares of the company’s stock, valued at approximately $720,608.30. The trade was a 86.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Michael K. Wirth sold 320,700 shares of the firm’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $162.99, for a total transaction of $52,270,893.00. Following the completion of the transaction, the chief executive officer owned 14,450 shares of the company’s stock, valued at approximately $2,355,205.50. This trade represents a 95.69% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 635,190 shares of company stock valued at $100,254,408 over the last ninety days. Company insiders own 0.20% of the company’s stock.

About Chevron

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.