Arlington Financial Advisors LLC Sells 351 Shares of Chevron Corporation $CVX

Arlington Financial Advisors LLC cut its stake in Chevron Corporation (NYSE:CVX) by 1.1% during the second quarter, HoldingsChannel reports. The firm owned 31,025 shares of the oil and gas company’s stock after selling 351 shares during the period. Arlington Financial Advisors LLC’s holdings in Chevron were worth $4,442,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. JGP Wealth Management LLC grew its holdings in shares of Chevron by 10.6% in the second quarter. JGP Wealth Management LLC now owns 9,096 shares of the oil and gas company’s stock worth $1,302,000 after purchasing an additional 873 shares during the last quarter. Mowery & Schoenfeld Wealth Management LLC grew its holdings in shares of Chevron by 10.3% in the second quarter. Mowery & Schoenfeld Wealth Management LLC now owns 750 shares of the oil and gas company’s stock worth $107,000 after purchasing an additional 70 shares during the last quarter. J.Safra Asset Management Corp grew its holdings in shares of Chevron by 8.1% in the second quarter. J.Safra Asset Management Corp now owns 3,174 shares of the oil and gas company’s stock worth $456,000 after purchasing an additional 239 shares during the last quarter. Morningstar Investment Management LLC grew its holdings in shares of Chevron by 29.4% in the second quarter. Morningstar Investment Management LLC now owns 17,617 shares of the oil and gas company’s stock worth $2,523,000 after purchasing an additional 3,998 shares during the last quarter. Finally, Baker Boyer National Bank grew its holdings in shares of Chevron by 34.8% in the second quarter. Baker Boyer National Bank now owns 3,251 shares of the oil and gas company’s stock worth $466,000 after purchasing an additional 840 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on CVX shares. Evercore ISI reissued an “outperform” rating and set a $180.00 target price on shares of Chevron in a research report on Thursday, July 31st. Piper Sandler boosted their price target on shares of Chevron from $164.00 to $168.00 and gave the company an “overweight” rating in a report on Monday, August 18th. TD Cowen boosted their price target on shares of Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a report on Monday, August 4th. Melius began coverage on shares of Chevron in a report on Wednesday, August 20th. They issued a “hold” rating and a $155.00 price target for the company. Finally, Bank of America boosted their price target on shares of Chevron from $170.00 to $185.00 and gave the company a “buy” rating in a report on Wednesday, September 10th. Eleven analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $165.40.

Chevron Stock Performance

CVX stock opened at $152.47 on Wednesday. The firm has a market cap of $263.47 billion, a price-to-earnings ratio of 19.62, a PEG ratio of 1.97 and a beta of 0.84. The firm has a 50-day simple moving average of $156.12 and a two-hundred day simple moving average of $148.34. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, beating the consensus estimate of $1.58 by $0.19. The business had revenue of $44.82 billion during the quarter, compared to analyst estimates of $44.59 billion. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The company’s quarterly revenue was down 12.4% on a year-over-year basis. During the same period in the prior year, the firm posted $2.55 earnings per share. On average, equities analysts forecast that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th were given a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.5%. The ex-dividend date of this dividend was Tuesday, August 19th. Chevron’s dividend payout ratio (DPR) is presently 88.03%.

Insider Activity at Chevron

In related news, Director John B. Hess sold 375,000 shares of the stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $158.30, for a total value of $59,362,500.00. Following the completion of the transaction, the director directly owned 1,403,045 shares of the company’s stock, valued at $222,102,023.50. This trade represents a 21.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Alana K. Knowles sold 3,978 shares of the stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $160.00, for a total transaction of $636,480.00. Following the completion of the transaction, the vice president directly owned 1,181 shares of the company’s stock, valued at $188,960. The trade was a 77.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.20% of the company’s stock.

Chevron Profile

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.