Ariston Services Group Takes Position in Chevron Co. (NYSE:CVX)

Ariston Services Group bought a new stake in Chevron Co. (NYSE:CVX) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 1,858 shares of the oil and gas company’s stock, valued at approximately $277,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of CVX. Warren Street Wealth Advisors LLC grew its position in shares of Chevron by 34.1% in the 4th quarter. Warren Street Wealth Advisors LLC now owns 36,779 shares of the oil and gas company’s stock valued at $5,486,000 after buying an additional 9,349 shares during the last quarter. B. Riley Wealth Advisors Inc. increased its position in shares of Chevron by 4.0% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 126,678 shares of the oil and gas company’s stock worth $18,895,000 after purchasing an additional 4,853 shares in the last quarter. SCP Investment LP lifted its holdings in shares of Chevron by 105.3% in the 4th quarter. SCP Investment LP now owns 7,800 shares of the oil and gas company’s stock valued at $1,232,000 after purchasing an additional 4,000 shares during the last quarter. Ables Iannone Moore & Associates Inc. acquired a new stake in shares of Chevron in the 4th quarter valued at about $1,121,000. Finally, Leo Wealth LLC purchased a new position in Chevron during the 4th quarter worth approximately $1,085,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CVX. The Goldman Sachs Group reiterated a “buy” rating on shares of Chevron in a research note on Monday, April 1st. Scotiabank raised Chevron from a “sector perform” rating to a “sector outperform” rating and raised their price target for the stock from $170.00 to $195.00 in a report on Thursday, April 11th. Mizuho upped their price objective on Chevron from $200.00 to $205.00 and gave the company a “buy” rating in a research note on Monday, May 13th. Truist Financial increased their price objective on Chevron from $156.00 to $166.00 and gave the stock a “hold” rating in a research report on Friday, May 10th. Finally, Raymond James increased their price target on Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a report on Monday, April 15th. Five research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $186.95.

Chevron Price Performance

Shares of NYSE CVX traded up $0.15 on Friday, hitting $156.08. The company’s stock had a trading volume of 5,887,651 shares, compared to its average volume of 6,055,743. The stock has a 50 day moving average of $160.52 and a 200-day moving average of $153.57. The company has a market capitalization of $287.65 billion, a price-to-earnings ratio of 14.36, a price-to-earnings-growth ratio of 2.30 and a beta of 1.12. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.23 and a quick ratio of 0.93. Chevron Co. has a 12-month low of $139.62 and a 12-month high of $171.70.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.84 by $0.09. The business had revenue of $48.72 billion for the quarter, compared to the consensus estimate of $48.42 billion. Chevron had a return on equity of 14.40% and a net margin of 10.21%. The business’s revenue was down 4.1% on a year-over-year basis. During the same period in the prior year, the business earned $3.55 earnings per share. As a group, research analysts predict that Chevron Co. will post 13.45 EPS for the current year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 17th will be paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 4.18%. The ex-dividend date of this dividend is Thursday, May 16th. Chevron’s payout ratio is 59.98%.

Insider Buying and Selling

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total value of $448,252.00. Following the completion of the transaction, the vice president now directly owns 276 shares in the company, valued at approximately $44,184.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, VP Jeff B. Gustavson sold 3,750 shares of the stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $160.23, for a total transaction of $600,862.50. Following the transaction, the vice president now directly owns 477 shares in the company, valued at approximately $76,429.71. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total transaction of $448,252.00. Following the completion of the transaction, the vice president now owns 276 shares in the company, valued at approximately $44,184.84. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,546 shares of company stock worth $3,176,223. 0.20% of the stock is 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.