Arrow Financial Corp Has $1.39 Million Holdings in Chevron Corporation (NYSE:CVX)

Arrow Financial Corp decreased its holdings in shares of Chevron Corporation (NYSE:CVX - Free Report) by 44.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,277 shares of the oil and gas company's stock after selling 6,649 shares during the quarter. Arrow Financial Corp's holdings in Chevron were worth $1,385,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in CVX. Crestwood Advisors Group LLC grew its holdings in Chevron by 0.8% during the first quarter. Crestwood Advisors Group LLC now owns 75,790 shares of the oil and gas company's stock worth $12,679,000 after acquiring an additional 582 shares during the period. Hazlett Burt & Watson Inc. boosted its stake in Chevron by 1.3% in the 1st quarter. Hazlett Burt & Watson Inc. now owns 7,505 shares of the oil and gas company's stock worth $1,254,000 after buying an additional 99 shares during the last quarter. Lewis Asset Management LLC boosted its stake in Chevron by 18.7% in the 1st quarter. Lewis Asset Management LLC now owns 3,063 shares of the oil and gas company's stock worth $512,000 after buying an additional 483 shares during the last quarter. GW&K Investment Management LLC lifted its stake in shares of Chevron by 33.8% in the 1st quarter. GW&K Investment Management LLC now owns 1,260 shares of the oil and gas company's stock valued at $211,000 after purchasing an additional 318 shares in the last quarter. Finally, Wealth Dimensions Group Ltd. lifted its stake in shares of Chevron by 15.2% in the 1st quarter. Wealth Dimensions Group Ltd. now owns 7,143 shares of the oil and gas company's stock valued at $1,195,000 after purchasing an additional 942 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company's stock.

Chevron Trading Up 0.3%

CVX stock traded up $0.52 during midday trading on Tuesday, hitting $150.20. 26,192,499 shares of the company's stock were exchanged, compared to its average volume of 8,657,278. The stock's fifty day moving average price is $144.04 and its 200-day moving average price is $148.68. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.82 and a current ratio of 1.08. The company has a market cap of $262.31 billion, a PE ratio of 17.17, a price-to-earnings-growth ratio of 2.48 and a beta of 0.83. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.03. The firm had revenue of $47.61 billion for the quarter, compared to the consensus estimate of $49.05 billion. Chevron had a return on equity of 10.73% and a net margin of 7.76%. The company's revenue for the quarter was down 2.3% on a year-over-year basis. During the same quarter last year, the business posted $2.93 EPS. Research analysts predict that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were issued a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.55%. The ex-dividend date was Monday, May 19th. Chevron's dividend payout ratio is presently 78.17%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on CVX shares. DZ Bank downgraded Chevron from a "buy" rating to a "sell" rating and set a $130.00 target price on the stock. in a report on Tuesday, May 6th. Scotiabank restated a "sector perform" rating and set a $160.00 price objective (up from $143.00) on shares of Chevron in a report on Friday, July 11th. Mizuho dropped their price objective on Chevron from $188.00 to $186.00 and set an "outperform" rating on the stock in a report on Tuesday, May 13th. HSBC downgraded Chevron from a "buy" rating to a "hold" rating and lowered their price target for the company from $176.00 to $158.00 in a report on Tuesday, May 13th. Finally, Wells Fargo & Company restated an "overweight" rating and set a $165.00 price objective (up previously from $164.00) on shares of Chevron in a research report on Thursday, June 26th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Chevron currently has a consensus rating of "Hold" and an average target price of $161.31.

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.