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

Arrow Financial Corp lowered its stake in shares of Chevron Corporation (NYSE:CVX - Free Report) by 44.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Life Planning Partners Inc acquired a new stake in shares of Chevron during the fourth quarter worth approximately $25,000. Mizuho Securities Co. Ltd. bought a new position in Chevron during the fourth quarter worth $29,000. 10Elms LLP bought a new position in Chevron during the fourth quarter worth $29,000. Navigoe LLC bought a new position in Chevron during the fourth quarter worth $33,000. Finally, IFS Advisors LLC lifted its stake in Chevron by 119.6% during the first quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company's stock worth $36,000 after purchasing an additional 116 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on CVX. BNP Paribas cut Chevron to a "cautious" rating in a research note on Tuesday, April 15th. Barclays reiterated an "equal weight" rating on shares of Chevron in a research note on Tuesday, July 15th. Mizuho cut their target price on Chevron from $188.00 to $186.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 13th. DZ Bank cut shares of Chevron from a "buy" rating to a "sell" rating and set a $130.00 price objective on the stock. in a research note on Tuesday, May 6th. Finally, Piper Sandler restated an "overweight" rating on shares of Chevron in a research note on Tuesday, July 15th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $162.13.

Chevron Trading Up 1.3%

CVX traded up $2.00 during trading on Thursday, reaching $155.12. The company had a trading volume of 6,637,269 shares, compared to its average volume of 9,455,249. The firm's 50-day simple moving average is $144.59 and its 200 day simple moving average is $148.73. The company has a market cap of $270.90 billion, a price-to-earnings ratio of 17.70, a PEG ratio of 2.48 and a beta of 0.83. Chevron Corporation has a 12-month low of $132.04 and a 12-month high of $168.96. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.82 and a current ratio of 1.08.

Chevron (NYSE:CVX - Get Free Report) last announced its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, topping analysts' consensus estimates of $2.15 by $0.03. Chevron had a return on equity of 10.73% and a net margin of 7.76%. The firm had revenue of $47.61 billion during the quarter, compared to analyst estimates of $49.05 billion. During the same period last year, the company posted $2.93 EPS. The business's quarterly revenue was down 2.3% compared to the same quarter last year. Equities research analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently declared 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. The ex-dividend date was Monday, May 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.41%. Chevron's dividend payout ratio 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.