Arkadios Wealth Advisors Has $17.41 Million Stake in Chevron Corporation (NYSE:CVX)

Key Points

• Arkadios Wealth Advisors increased its stake in Chevron Corporation by 27.8%, acquiring an additional 22,631 shares, and now holds 104,045 shares, valued at approximately $17.4 million.
• Chevron's stock recently traded down 2.1% to $153.68 and boasts a market capitalization of $268.39 billion, with a PE ratio of 17.56.
• The company announced a quarterly dividend of $1.71 per share, yielding 4.45% annually, with a payout ratio of 78.17%.

Arkadios Wealth Advisors raised its position in shares of Chevron Corporation (NYSE:CVX - Free Report) by 27.8% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 104,045 shares of the oil and gas company's stock after purchasing an additional 22,631 shares during the period. Chevron accounts for approximately 0.7% of Arkadios Wealth Advisors' holdings, making the stock its 23rd biggest position. Arkadios Wealth Advisors' holdings in Chevron were worth $17,406,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the stock. GAMMA Investing LLC grew its stake in Chevron by 21,191.5% in the 1st quarter. GAMMA Investing LLC now owns 5,408,248 shares of the oil and gas company's stock valued at $904,746,000 after buying an additional 5,382,847 shares during the last quarter. Capital World Investors increased its position in shares of Chevron by 11.4% during the 4th quarter. Capital World Investors now owns 14,079,656 shares of the oil and gas company's stock worth $2,039,288,000 after purchasing an additional 1,440,808 shares in the last quarter. Northern Trust Corp increased its position in shares of Chevron by 7.3% during the 4th quarter. Northern Trust Corp now owns 20,471,800 shares of the oil and gas company's stock worth $2,965,135,000 after purchasing an additional 1,394,091 shares in the last quarter. Invesco Ltd. increased its position in shares of Chevron by 6.9% during the 4th quarter. Invesco Ltd. now owns 15,027,474 shares of the oil and gas company's stock worth $2,176,579,000 after purchasing an additional 964,426 shares in the last quarter. Finally, Janus Henderson Group PLC increased its position in Chevron by 27.3% in the 4th quarter. Janus Henderson Group PLC now owns 3,897,183 shares of the oil and gas company's stock valued at $564,503,000 after acquiring an additional 835,990 shares in the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CVX has been the subject of several analyst reports. Scotiabank reiterated a "sector perform" rating and set a $160.00 price target (up previously from $143.00) on shares of Chevron in a research report on Friday, July 11th. UBS Group cut their price target on shares of Chevron from $194.00 to $185.00 and set a "buy" rating on the stock in a research note on Monday, April 7th. Mizuho cut their price objective on shares of Chevron from $188.00 to $186.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 13th. Jefferies Financial Group restated a "buy" rating on shares of Chevron in a report on Friday, July 18th. Finally, Piper Sandler restated an "overweight" rating on shares of Chevron in a report on Tuesday, July 15th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat, Chevron currently has a consensus rating of "Hold" and an average price target of $163.18.

Chevron Price Performance

Shares of CVX stock traded down $0.31 on Friday, reaching $151.33. The company had a trading volume of 10,704,924 shares, compared to its average volume of 9,498,295. The stock has a market capitalization of $264.28 billion, a PE ratio of 17.29, a price-to-earnings-growth ratio of 2.42 and a beta of 0.83. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.17. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96. The business's 50-day moving average is $146.57 and its 200 day moving average is $148.90.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.19. Chevron had a return on equity of 10.73% and a net margin of 7.76%. The company had revenue of $44.82 billion during the quarter, compared to the consensus estimate of $44.59 billion. During the same quarter in the prior year, the firm posted $2.55 earnings per share. The firm's revenue was down 12.4% compared to the same quarter last year. Equities research analysts forecast that Chevron Corporation will post 10.79 EPS for the current fiscal year.

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.