Aaron Wealth Advisors LLC Has $3.06 Million Stock Position in Chevron Corporation $CVX

Aaron Wealth Advisors LLC grew its position in Chevron Corporation (NYSE:CVX) by 18.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,103 shares of the oil and gas company’s stock after buying an additional 3,066 shares during the quarter. Aaron Wealth Advisors LLC’s holdings in Chevron were worth $3,064,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in CVX. United Bank boosted its holdings in shares of Chevron by 7.7% in the second quarter. United Bank now owns 11,079 shares of the oil and gas company’s stock worth $1,586,000 after buying an additional 796 shares during the period. Schnieders Capital Management LLC. lifted its position in shares of Chevron by 9.0% in the second quarter. Schnieders Capital Management LLC. now owns 50,839 shares of the oil and gas company’s stock worth $7,280,000 after purchasing an additional 4,214 shares in the last quarter. Gamco Investors INC. ET AL lifted its position in shares of Chevron by 1.9% in the second quarter. Gamco Investors INC. ET AL now owns 24,271 shares of the oil and gas company’s stock worth $3,475,000 after purchasing an additional 455 shares in the last quarter. Bank of Nova Scotia lifted its position in shares of Chevron by 33.2% in the second quarter. Bank of Nova Scotia now owns 271,443 shares of the oil and gas company’s stock worth $38,868,000 after purchasing an additional 67,641 shares in the last quarter. Finally, Natixis lifted its position in shares of Chevron by 1,141.8% in the second quarter. Natixis now owns 1,073,679 shares of the oil and gas company’s stock worth $153,740,000 after purchasing an additional 987,215 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Vice Chairman Mark A. Nelson sold 139,600 shares of Chevron stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $187.92, for a total value of $26,233,632.00. Following the transaction, the insider owned 11,337 shares of the company’s stock, valued at $2,130,449.04. This trade represents a 92.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider R. Hewitt Pate sold 58,000 shares of Chevron stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $188.65, for a total transaction of $10,941,700.00. Following the completion of the transaction, the insider directly owned 8,558 shares in the company, valued at approximately $1,614,466.70. This represents a 87.14% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 782,607 shares of company stock valued at $146,510,571. 0.21% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on CVX. Wall Street Zen raised shares of Chevron from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st. Barclays increased their price target on shares of Chevron from $172.00 to $180.00 and gave the stock an “equal weight” rating in a research report on Monday, March 16th. Sanford C. Bernstein increased their price target on shares of Chevron from $170.00 to $172.00 and gave the stock a “market perform” rating in a research report on Monday, January 5th. Morgan Stanley increased their price target on shares of Chevron from $174.00 to $212.00 and gave the stock an “overweight” rating in a research report on Friday, March 27th. Finally, Freedom Capital lowered shares of Chevron from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 6th. Fourteen investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, Chevron has a consensus rating of “Hold” and an average price target of $187.64.

Chevron Price Performance

Shares of CVX opened at $198.90 on Tuesday. The firm has a market cap of $396.89 billion, a PE ratio of 29.87, a PEG ratio of 1.66 and a beta of 0.60. The firm’s 50 day moving average price is $189.78 and its 200 day moving average price is $167.10. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.86 and a current ratio of 1.15. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $214.71.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, January 30th. The oil and gas company reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.44 by $0.08. The firm had revenue of $45.79 billion for the quarter, compared to analyst estimates of $48.18 billion. Chevron had a net margin of 6.51% and a return on equity of 7.89%. The company’s revenue for the quarter was down 10.2% on a year-over-year basis. During the same quarter last year, the firm earned $2.06 earnings per share. As a group, research analysts expect that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Tuesday, February 17th were given a dividend of $1.78 per share. The ex-dividend date of this dividend was Tuesday, February 17th. This is a boost from Chevron’s previous quarterly dividend of $1.71. This represents a $7.12 annualized dividend and a yield of 3.6%. Chevron’s payout ratio is 106.91%.

Chevron Profile

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.