AR Asset Management Inc. Purchases 6,254 Shares of Chevron Corporation $CVX

AR Asset Management Inc. increased its position in Chevron Corporation (NYSE:CVX) by 5.5% in the 1st quarter, Holdings Channel reports. The firm owned 119,618 shares of the oil and gas company’s stock after buying an additional 6,254 shares during the period. Chevron makes up 4.8% of AR Asset Management Inc.’s holdings, making the stock its 2nd biggest holding. AR Asset Management Inc.’s holdings in Chevron were worth $24,749,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Norges Bank purchased a new stake in Chevron in the fourth quarter valued at approximately $3,727,586,000. State Street Corp grew its position in shares of Chevron by 9.1% during the third quarter. State Street Corp now owns 152,605,988 shares of the oil and gas company’s stock worth $23,698,184,000 after acquiring an additional 12,789,399 shares during the last quarter. Berkshire Hathaway Inc increased its holdings in shares of Chevron by 6.6% in the 4th quarter. Berkshire Hathaway Inc now owns 130,156,362 shares of the oil and gas company’s stock valued at $19,837,131,000 after acquiring an additional 8,091,570 shares during the period. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Chevron by 822.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 6,211,258 shares of the oil and gas company’s stock valued at $946,658,000 after acquiring an additional 5,537,580 shares during the period. Finally, Amundi raised its position in Chevron by 41.8% in the 3rd quarter. Amundi now owns 11,760,376 shares of the oil and gas company’s stock valued at $1,811,333,000 after purchasing an additional 3,464,058 shares during the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Price Performance

Shares of CVX opened at $193.04 on Thursday. The company has a current ratio of 1.09, a quick ratio of 0.84 and a debt-to-equity ratio of 0.21. Chevron Corporation has a twelve month low of $146.49 and a twelve month high of $214.71. The firm has a market capitalization of $384.45 billion, a PE ratio of 33.46, a P/E/G ratio of 0.67 and a beta of 0.50. The stock’s 50 day moving average is $181.88 and its two-hundred day moving average is $183.48.

Chevron (NYSE:CVX) last issued its earnings results on Friday, May 1st. The oil and gas company reported $1.41 EPS for the quarter, topping the consensus estimate of $1.00 by $0.41. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The company had revenue of $47.56 billion for the quarter, compared to analyst estimates of $51.86 billion. During the same period in the previous year, the firm earned $2.18 EPS. The business’s revenue was up 2.1% on a year-over-year basis. Research analysts anticipate that Chevron Corporation will post 14.78 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 19th were given a dividend of $1.78 per share. This represents a $7.12 annualized dividend and a yield of 3.7%. The ex-dividend date was Tuesday, May 19th. Chevron’s dividend payout ratio is presently 123.40%.

Analyst Ratings Changes

A number of brokerages recently weighed in on CVX. BNP Paribas Exane upgraded shares of Chevron from a “neutral” rating to an “outperform” rating and set a $174.00 price target for the company in a research note on Friday, April 17th. The Goldman Sachs Group restated a “buy” rating and issued a $216.00 price objective on shares of Chevron in a research note on Wednesday, May 6th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $220.00 target price on shares of Chevron in a report on Tuesday, May 5th. Wolfe Research upgraded shares of Chevron from a “peer perform” rating to an “outperform” rating and set a $210.00 target price for the company in a research note on Thursday, July 2nd. Finally, Scotiabank raised their price target on Chevron from $168.00 to $187.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 22nd. Nineteen investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $206.62.

Insiders Place Their Bets

In other Chevron news, Director John B. Hess sold 380,000 shares of the stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $193.20, for a total value of $73,416,000.00. Following the completion of the transaction, the director directly owned 278,045 shares of the company’s stock, valued at approximately $53,718,294. This trade represents a 57.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.56% of the company’s stock.

Key Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: TD Cowen lifted its price target on Chevron to $200 from $197, signaling continued analyst confidence despite keeping a hold rating. TD Cowen price target update
• Positive Sentiment: Chevron is being highlighted in dividend-focused articles as a steady income name, which may support demand from long-term investors. Dividend Aristocrats article
• Positive Sentiment: Rising oil prices amid geopolitical uncertainty are favorable for Chevron’s upstream business and could improve near-term earnings. Oil prices jump article
• Neutral Sentiment: Chevron shut production at a U.S. Gulf platform ahead of a tropical storm, a precautionary move that could limit output temporarily but is not necessarily a lasting operational issue. Production shutdown article
• Neutral Sentiment: Investors are awaiting Chevron’s second-quarter earnings, with expectations for a strong profit rebound; the report could become a major stock catalyst. Earnings preview article

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.