Armis Advisers LLC Invests $397,000 in Chevron Co. (NYSE:CVX)

Armis Advisers LLC acquired a new position in Chevron Co. (NYSE:CVX - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 2,742 shares of the oil and gas company's stock, valued at approximately $397,000.

A number of other large investors have also added to or reduced their stakes in CVX. Life Planning Partners Inc bought a new stake in Chevron in the 4th quarter worth approximately $25,000. IMG Wealth Management Inc. purchased a new position in Chevron during the 4th quarter valued at $25,000. Mizuho Securities Co. Ltd. purchased a new position in Chevron during the 4th quarter valued at $29,000. 10Elms LLP purchased a new stake in shares of Chevron in the 4th quarter worth $29,000. Finally, Fairway Wealth LLC lifted its holdings in shares of Chevron by 75.9% in the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company's stock worth $30,000 after buying an additional 88 shares during the period. Institutional investors own 72.42% of the company's stock.

Wall Street Analysts Forecast Growth

CVX has been the subject of several recent research reports. Mizuho reduced their price target on Chevron from $188.00 to $186.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. Barclays lowered Chevron from an "overweight" rating to an "equal weight" rating and reduced their target price for the company from $171.00 to $152.00 in a research report on Wednesday, April 23rd. Wells Fargo & Company cut their price objective on Chevron from $173.00 to $164.00 and set an "overweight" rating on the stock in a report on Monday, May 5th. BNP Paribas downgraded Chevron to a "cautious" rating in a research note on Tuesday, April 15th. Finally, Piper Sandler lowered their target price on Chevron from $173.00 to $162.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 13th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $160.24.

Chevron Price Performance

Shares of NYSE:CVX traded up $1.11 during midday trading on Thursday, hitting $137.13. The company had a trading volume of 4,077,309 shares, compared to its average volume of 8,067,227. Chevron Co. has a twelve month low of $132.04 and a twelve month high of $168.96. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The stock has a market cap of $239.47 billion, a price-to-earnings ratio of 14.11, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83. The business's 50-day simple moving average is $143.01 and its 200-day simple moving average is $150.83.

Chevron (NYSE:CVX - Get Free Report) last posted its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, beating the consensus estimate of $2.15 by $0.03. Chevron had a return on equity of 11.44% and a net margin of 8.71%. The firm had revenue of $47.61 billion during the quarter, compared to analysts' expectations of $49.05 billion. During the same quarter last year, the firm earned $2.93 earnings per share. The business's revenue for the quarter was down 2.3% on a year-over-year basis. On average, research analysts predict that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th will be paid a dividend of $1.71 per share. The ex-dividend date of this dividend is Monday, May 19th. This represents a $6.84 annualized dividend and a yield of 4.99%. Chevron's dividend payout ratio (DPR) is 78.17%.

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.