Arkadios Wealth Advisors Increases Stock Position in Chevron Co. (NYSE:CVX)

Arkadios Wealth Advisors increased its position in shares of Chevron Co. (NYSE:CVX) by 12.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 78,969 shares of the oil and gas company’s stock after purchasing an additional 8,974 shares during the quarter. Chevron makes up about 0.7% of Arkadios Wealth Advisors’ holdings, making the stock its 22nd biggest position. Arkadios Wealth Advisors’ holdings in Chevron were worth $11,630,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in CVX. Anfield Capital Management LLC raised its stake in shares of Chevron by 118.0% during the 2nd 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 during the period. Cyrus J. Lawrence LLC raised its position in 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 acquiring an additional 100 shares during the period. Livelsberger Financial Advisory purchased a new position in Chevron in the third quarter valued at about $47,000. Krane Funds Advisors LLC bought a new position in shares of Chevron during the 3rd quarter valued at approximately $47,000. Finally, Dixon Mitchell Investment Counsel Inc. purchased a new stake in shares of Chevron during the 1st quarter worth approximately $55,000. 72.42% of the stock is owned by institutional investors.

Analyst Ratings Changes

CVX has been the subject of several research reports. Royal Bank of Canada reissued an “outperform” rating and set a $170.00 price objective on shares of Chevron in a report on Tuesday, October 8th. Wells Fargo & Company decreased their price objective on Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a report on Friday, September 27th. Sanford C. Bernstein downgraded shares of Chevron from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $183.00 to $167.00 in a report on Wednesday, July 17th. UBS Group lifted their target price on shares of Chevron from $189.00 to $192.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Finally, Barclays dropped their price target on shares of Chevron from $185.00 to $168.00 and set an “overweight” rating on the stock in a research note on Thursday, October 3rd. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $173.07.

Chevron Price Performance

NYSE:CVX opened at $150.81 on Friday. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $167.11. The stock has a fifty day moving average of $146.59 and a 200 day moving average of $153.30. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16. The firm has a market capitalization of $277.94 billion, a price-to-earnings ratio of 13.87, a P/E/G ratio of 3.30 and a beta of 1.09.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). The business had revenue of $51.18 billion for the quarter, compared to the consensus estimate of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. The business’s revenue was up 4.7% compared to the same quarter last year. During the same quarter last year, the business posted $3.08 EPS. On average, research analysts expect that Chevron Co. will post 10.86 EPS for the current fiscal year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.32%. The ex-dividend date was Monday, August 19th. Chevron’s payout ratio is 59.98%.

Chevron Company 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.