Arbor Trust Wealth Advisors LLC Raises Stake in Chevron Co. (NYSE:CVX)

Arbor Trust Wealth Advisors LLC grew its stake in shares of Chevron Co. (NYSE:CVX) by 4.6% in the fourth quarter, Holdings Channel reports. The firm owned 15,102 shares of the oil and gas company’s stock after acquiring an additional 665 shares during the period. Chevron accounts for approximately 1.3% of Arbor Trust Wealth Advisors LLC’s holdings, making the stock its 25th largest position. Arbor Trust Wealth Advisors LLC’s holdings in Chevron were worth $2,253,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in CVX. NCM Capital Management LLC increased its position in shares of Chevron by 1.2% in the 1st quarter. NCM Capital Management LLC now owns 5,570 shares of the oil and gas company’s stock valued at $909,000 after purchasing an additional 65 shares during the last quarter. Sweet Financial Partners LLC increased its position in shares of Chevron by 0.7% in the 3rd quarter. Sweet Financial Partners LLC now owns 8,761 shares of the oil and gas company’s stock valued at $1,477,000 after purchasing an additional 65 shares during the last quarter. Strategic Investment Advisors MI increased its position in shares of Chevron by 3.8% in the 3rd quarter. Strategic Investment Advisors MI now owns 1,758 shares of the oil and gas company’s stock valued at $296,000 after purchasing an additional 65 shares during the last quarter. Alera Investment Advisors LLC increased its position in shares of Chevron by 1.0% in the 3rd quarter. Alera Investment Advisors LLC now owns 6,486 shares of the oil and gas company’s stock valued at $1,094,000 after purchasing an additional 67 shares during the last quarter. Finally, Global Trust Asset Management LLC increased its position in shares of Chevron by 1.0% in the 3rd quarter. Global Trust Asset Management LLC now owns 6,852 shares of the oil and gas company’s stock valued at $1,155,000 after purchasing an additional 67 shares during the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CVX. TD Cowen downgraded shares of Chevron from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $170.00 to $150.00 in a research report on Tuesday, January 23rd. Jefferies Financial Group raised shares of Chevron from a “hold” rating to a “buy” rating and set a $184.00 target price on the stock in a research report on Monday, January 8th. UBS Group increased their target price on shares of Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a research report on Tuesday, April 9th. DZ Bank downgraded shares of Chevron from a “buy” rating to a “hold” rating and set a $160.00 price objective on the stock. in a research report on Tuesday, February 6th. Finally, Barclays started coverage on shares of Chevron in a research report on Wednesday, April 10th. They set an “overweight” rating and a $203.00 price objective on the stock. Six equities 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.com, the company presently has an average rating of “Moderate Buy” and an average target price of $183.55.

Insider Activity

In related news, VP Alana K. Knowles sold 2,800 shares of the firm’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 of the company’s stock, valued at $44,184.84. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.18% of the stock is owned by company insiders.

Chevron Stock Down 0.8 %

NYSE:CVX traded down $1.31 during mid-day trading on Wednesday, reaching $156.28. The stock had a trading volume of 5,541,895 shares, compared to its average volume of 7,275,755. Chevron Co. has a fifty-two week low of $139.62 and a fifty-two week high of $172.54. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.27 and a quick ratio of 1.01. The business’s 50 day moving average is $155.11 and its 200 day moving average is $151.83. The stock has a market cap of $290.25 billion, a P/E ratio of 13.76, a PEG ratio of 2.37 and a beta of 1.12.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share for the quarter, beating the consensus estimate of $3.19 by $0.26. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The company had revenue of $47.18 billion during the quarter, compared to analysts’ expectations of $50.93 billion. During the same period in the prior year, the business earned $4.09 earnings per share. Chevron’s revenue for the quarter was down 16.5% compared to the same quarter last year. As a group, sell-side analysts predict that Chevron Co. will post 13.28 earnings per share for the current year.

Chevron Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Friday, February 16th were given a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 4.17%. This is a boost from Chevron’s previous quarterly dividend of $1.51. The ex-dividend date of this dividend was Thursday, February 15th. Chevron’s dividend payout ratio is currently 57.39%.

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.