ARS Wealth Advisors Group LLC Boosts Holdings in Chevron Co. (NYSE:CVX)

ARS Wealth Advisors Group LLC raised its position in Chevron Co. (NYSE:CVX) by 0.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 118,881 shares of the oil and gas company’s stock after acquiring an additional 549 shares during the quarter. Chevron makes up about 2.8% of ARS Wealth Advisors Group LLC’s holdings, making the stock its 11th biggest holding. ARS Wealth Advisors Group LLC’s holdings in Chevron were worth $19,888,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. TFB Advisors LLC lifted its stake in Chevron by 2.4% during the fourth quarter. TFB Advisors LLC now owns 2,840 shares of the oil and gas company’s stock worth $411,000 after purchasing an additional 66 shares during the last quarter. W.H. Cornerstone Investments Inc. lifted its stake in Chevron by 1.4% during the fourth quarter. W.H. Cornerstone Investments Inc. now owns 4,672 shares of the oil and gas company’s stock worth $677,000 after purchasing an additional 66 shares during the last quarter. Parkside Financial Bank & Trust lifted its stake in Chevron by 0.4% during the fourth quarter. Parkside Financial Bank & Trust now owns 15,240 shares of the oil and gas company’s stock worth $2,207,000 after purchasing an additional 66 shares during the last quarter. Berkeley Capital Partners LLC lifted its stake in Chevron by 0.4% during the fourth quarter. Berkeley Capital Partners LLC now owns 17,757 shares of the oil and gas company’s stock worth $2,572,000 after purchasing an additional 67 shares during the last quarter. Finally, CBIZ Investment Advisory Services LLC lifted its stake in Chevron by 6.1% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 1,184 shares of the oil and gas company’s stock worth $171,000 after purchasing an additional 68 shares during 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 $140.21 on Friday. Chevron Co. has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The firm’s 50-day simple moving average is $138.98 and its 200 day simple moving average is $149.73. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The stock has a market cap of $244.86 billion, a P/E ratio of 14.42, a P/E/G ratio of 1.46 and a beta of 0.83.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.03. Chevron had a net margin of 8.71% and a return on equity of 11.44%. The business had revenue of $47.61 billion for the quarter, compared to analysts’ expectations of $49.05 billion. During the same period in the previous year, the business earned $2.93 earnings per share. The company’s revenue was down 2.3% on a year-over-year basis. Equities analysts expect that Chevron Co. will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Monday, May 19th will be paid a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.88%. The ex-dividend date is Monday, May 19th. Chevron’s dividend payout ratio is currently 78.17%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CVX. TD Cowen reduced their price objective on Chevron from $155.00 to $150.00 and set a “hold” rating on the stock in a research note on Monday, May 5th. Redburn Atlantic restated a “sell” rating and set a $124.00 price objective (down from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. Mizuho reduced their price objective on Chevron from $188.00 to $186.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 13th. Scotiabank cut Chevron from a “sector outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $160.00 to $143.00 in a research note on Friday, April 11th. Finally, DZ Bank cut Chevron from a “buy” rating to a “sell” rating and set a $130.00 target price on the stock. in a research note on Tuesday, May 6th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, Chevron currently has an average rating of “Hold” and an average price target of $160.24.

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.