Arvest Investments Inc. Sells 1,783 Shares of Chevron Co. (NYSE:CVX)

Arvest Investments Inc. trimmed its position in shares of Chevron Co. (NYSE:CVX) by 11.6% in the 3rd quarter, Holdings Channel.com reports. The firm owned 13,571 shares of the oil and gas company’s stock after selling 1,783 shares during the quarter. Arvest Investments Inc.’s holdings in Chevron were worth $1,999,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the company. Rational Advisors LLC purchased a new stake in Chevron in the 3rd quarter worth about $29,000. Anfield Capital Management LLC increased its stake in shares of Chevron by 118.0% in the second quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock worth $34,000 after purchasing an additional 118 shares in the last quarter. Cyrus J. Lawrence LLC increased its stake in shares of Chevron by 66.7% in the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 100 shares in the last quarter. Krane Funds Advisors LLC bought a new stake in shares of Chevron in the third quarter valued at approximately $47,000. Finally, Livelsberger Financial Advisory purchased a new stake in shares of Chevron during the 3rd quarter valued at approximately $47,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Trading Up 0.1 %

Shares of CVX traded up $0.16 during mid-day trading on Friday, reaching $156.93. The company’s stock had a trading volume of 6,041,457 shares, compared to its average volume of 6,615,985. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.11. The company’s fifty day moving average price is $147.80 and its two-hundred day moving average price is $152.82. The stock has a market cap of $287.01 billion, a PE ratio of 17.25, a P/E/G ratio of 3.51 and a beta of 1.09.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, topping the consensus estimate of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.07%. The business had revenue of $50.67 billion during the quarter, compared to the consensus estimate of $48.86 billion. During the same period in the previous year, the firm posted $3.05 earnings per share. The firm’s revenue for the quarter was down 6.3% on a year-over-year basis. On average, analysts predict that Chevron Co. will post 10.59 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 18th will be given a dividend of $1.63 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $6.52 annualized dividend and a yield of 4.15%. Chevron’s payout ratio is 71.65%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on CVX shares. Truist Financial lifted their price objective on shares of Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a research note on Monday, November 4th. Wells Fargo & Company decreased their price objective on Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a research note on Friday, September 27th. Mizuho dropped their price objective on Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a report on Monday, September 16th. UBS Group lifted their target price on Chevron from $192.00 to $194.00 and gave the company a “buy” rating in a report on Monday, November 4th. Finally, Sanford C. Bernstein downgraded shares of Chevron from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $183.00 to $167.00 in a report on Wednesday, July 17th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, Chevron presently has an average rating of “Moderate Buy” and a consensus target price of $174.93.

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.