Arkfeld Wealth Strategies L.L.C. Boosts Position in Chevron Co. (NYSE:CVX)

Arkfeld Wealth Strategies L.L.C. boosted its position in shares of Chevron Co. (NYSE:CVX) by 6.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,385 shares of the oil and gas company’s stock after buying an additional 144 shares during the period. Arkfeld Wealth Strategies L.L.C.’s holdings in Chevron were worth $388,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Bare Financial Services Inc acquired a new position in shares of Chevron in the fourth quarter valued at approximately $27,000. Frank Rimerman Advisors LLC purchased a new stake in shares of Chevron in the fourth quarter valued at approximately $30,000. Valued Wealth Advisors LLC purchased a new stake in shares of Chevron in the fourth quarter valued at approximately $33,000. Cooksen Wealth LLC purchased a new stake in Chevron during the fourth quarter worth $40,000. Finally, Clear Investment Research LLC boosted its position in Chevron by 264.9% during the fourth quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock worth $42,000 after purchasing an additional 204 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Activity at Chevron

In related news, VP Jeff B. Gustavson sold 3,750 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $160.23, for a total value of $600,862.50. Following the sale, the vice president now directly owns 477 shares in the company, valued at approximately $76,429.71. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, VP Jeff B. Gustavson sold 3,750 shares of the firm’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $160.23, for a total transaction of $600,862.50. Following the completion of the sale, the vice president now directly owns 477 shares of the company’s stock, valued at approximately $76,429.71. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, 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 sale, the vice president now directly owns 276 shares of the company’s stock, valued at $44,184.84. The disclosure for this sale can be found here. Insiders have sold a total of 19,546 shares of company stock worth $3,176,223 in the last three months. 0.20% of the stock is owned by company insiders.

Chevron Stock Performance

CVX traded down $2.51 during trading hours on Wednesday, hitting $155.95. The company’s stock had a trading volume of 8,430,054 shares, compared to its average volume of 8,076,017. Chevron Co. has a fifty-two week low of $139.62 and a fifty-two week high of $171.70. The company has a current ratio of 1.23, a quick ratio of 0.93 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $287.41 billion, a PE ratio of 14.35, a PEG ratio of 2.41 and a beta of 1.12. The company has a 50-day simple moving average of $159.33 and a 200 day simple moving average of $154.51.

Chevron (NYSE:CVX) last posted its earnings results on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, beating the consensus estimate of $2.84 by $0.09. Chevron had a return on equity of 14.40% and a net margin of 10.21%. The firm had revenue of $48.72 billion for the quarter, compared to analysts’ expectations of $48.42 billion. During the same period last year, the firm earned $3.55 EPS. The firm’s revenue was down 4.1% compared to the same quarter last year. As a group, sell-side analysts expect that Chevron Co. will post 13.15 EPS for the current year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 17th were given a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 4.18%. The ex-dividend date of this dividend was Thursday, May 16th. Chevron’s dividend payout ratio is currently 59.98%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CVX. Truist Financial upped their price objective on Chevron from $156.00 to $166.00 and gave the company a “hold” rating in a research report on Friday, May 10th. UBS Group upped their price objective on Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a research report on Tuesday, April 9th. Raymond James upped their price objective on Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a research report on Monday, April 15th. Mizuho increased their target price on Chevron from $200.00 to $205.00 and gave the company a “buy” rating in a research note on Monday, May 13th. Finally, Wells Fargo & Company increased their price target on Chevron from $198.00 to $206.00 and gave the company an “overweight” rating in a report on Tuesday, April 30th. Five investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $186.95.

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.