ARS Investment Partners LLC Has $11.21 Million Stock Position in Chevron Co. (NYSE:CVX)

ARS Investment Partners LLC increased its stake in shares of Chevron Co. (NYSE:CVX) by 0.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 71,232 shares of the oil and gas company’s stock after buying an additional 315 shares during the period. Chevron accounts for approximately 1.3% of ARS Investment Partners LLC’s holdings, making the stock its 25th biggest holding. ARS Investment Partners LLC’s holdings in Chevron were worth $11,208,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Keystone Financial Planning Inc. lifted its position in Chevron by 4.6% during the 2nd quarter. Keystone Financial Planning Inc. now owns 28,256 shares of the oil and gas company’s stock worth $4,446,000 after buying an additional 1,247 shares in the last quarter. New Hampshire Trust lifted its position in Chevron by 1.5% during the 2nd quarter. New Hampshire Trust now owns 14,441 shares of the oil and gas company’s stock worth $2,272,000 after buying an additional 214 shares in the last quarter. Beese Fulmer Investment Management Inc. lifted its position in Chevron by 0.5% during the 2nd quarter. Beese Fulmer Investment Management Inc. now owns 92,024 shares of the oil and gas company’s stock worth $14,480,000 after buying an additional 456 shares in the last quarter. Paragon Capital Management Ltd lifted its position in Chevron by 6.0% during the 2nd quarter. Paragon Capital Management Ltd now owns 3,917 shares of the oil and gas company’s stock worth $616,000 after buying an additional 223 shares in the last quarter. Finally, Ferguson Wellman Capital Management Inc. lifted its position in Chevron by 0.6% during the 2nd quarter. Ferguson Wellman Capital Management Inc. now owns 537,528 shares of the oil and gas company’s stock valued at $84,580,000 after purchasing an additional 3,387 shares during the period. Institutional investors and hedge funds own 68.87% of the company’s stock.

Insider Activity

In other Chevron news, CFO Pierre R. Breber sold 25,000 shares of the firm’s stock in a transaction on Friday, August 11th. The stock was sold at an average price of $164.00, for a total transaction of $4,100,000.00. Following the completion of the sale, the chief financial officer now owns 6,021 shares of the company’s stock, valued at approximately $987,444. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Chevron news, CFO Pierre R. Breber sold 25,000 shares of the firm’s stock in a transaction on Friday, August 11th. The stock was sold at an average price of $164.00, for a total transaction of $4,100,000.00. Following the completion of the sale, the chief financial officer now owns 6,021 shares of the company’s stock, valued at approximately $987,444. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Jeff B. Gustavson sold 3,750 shares of the firm’s stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $160.88, for a total value of $603,300.00. Following the sale, the vice president now directly owns 1,718 shares of the company’s stock, valued at approximately $276,391.84. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by insiders.

Chevron Trading Up 0.4 %

NYSE CVX opened at $167.22 on Tuesday. The company has a market cap of $312.24 billion, a PE ratio of 10.60, a PEG ratio of 0.88 and a beta of 1.18. The company has a current ratio of 1.43, a quick ratio of 1.13 and a debt-to-equity ratio of 0.13. Chevron Co. has a 12 month low of $140.46 and a 12 month high of $189.68. The stock has a 50 day moving average of $160.80 and a 200-day moving average of $160.15.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, July 28th. The oil and gas company reported $3.08 EPS for the quarter, beating the consensus estimate of $2.95 by $0.13. The company had revenue of $48.90 billion during the quarter, compared to the consensus estimate of $48 billion. Chevron had a return on equity of 19.48% and a net margin of 13.54%. The firm’s revenue for the quarter was down 28.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $5.82 EPS. On average, equities research analysts anticipate that Chevron Co. will post 13.23 EPS for the current fiscal year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 11th. Stockholders of record on Friday, August 18th were issued a $1.51 dividend. This represents a $6.04 annualized dividend and a dividend yield of 3.61%. The ex-dividend date of this dividend was Thursday, August 17th. Chevron’s payout ratio is presently 38.30%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. JPMorgan Chase & Co. upgraded shares of Chevron from an “underweight” rating to a “neutral” rating and upped their target price for the company from $161.00 to $170.00 in a research report on Wednesday, May 31st. StockNews.com started coverage on shares of Chevron in a research report on Thursday, August 17th. They issued a “hold” rating on the stock. Piper Sandler lowered their target price on Chevron from $196.00 to $188.00 in a research note on Tuesday, June 13th. Morgan Stanley increased their target price on Chevron from $197.00 to $198.00 and gave the stock an “equal weight” rating in a research note on Friday, August 18th. Finally, Royal Bank of Canada raised Chevron from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from $165.00 to $180.00 in a research note on Thursday, June 1st. Seven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, Chevron has a consensus rating of “Moderate Buy” and an average price target of $190.61.

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; liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and processing, transportation, storage, and marketing of natural gas, as well as a gas-to-liquids plant.