Arbor Capital Management Inc. ADV Decreases Stake in Chevron Co. (NYSE:CVX)

Arbor Capital Management Inc. ADV lessened its stake in shares of Chevron Co. (NYSE:CVX) by 6.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 13,295 shares of the oil and gas company’s stock after selling 895 shares during the quarter. Chevron makes up 2.1% of Arbor Capital Management Inc. ADV’s holdings, making the stock its 10th biggest holding. Arbor Capital Management Inc. ADV’s holdings in Chevron were worth $2,067,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Charles Schwab Investment Management Inc. grew its stake in shares of Chevron by 11.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 31,108,760 shares of the oil and gas company’s stock worth $4,581,137,000 after purchasing an additional 3,203,899 shares during the last quarter. State Street Corp grew its stake in shares of Chevron by 0.6% in the third quarter. State Street Corp now owns 159,105,244 shares of the oil and gas company’s stock worth $23,431,429,000 after purchasing an additional 874,962 shares during the last quarter. LPL Financial LLC grew its stake in shares of Chevron by 5.7% in the third quarter. LPL Financial LLC now owns 3,147,686 shares of the oil and gas company’s stock worth $463,560,000 after purchasing an additional 171,089 shares during the last quarter. Dale Q Rice Investment Management Ltd bought a new stake in shares of Chevron in the fourth quarter worth $594,000. Finally, Unified Investment Management bought a new stake in shares of Chevron in the fourth quarter worth $729,000. Institutional investors own 72.42% of the company’s stock.

Insiders Place Their Bets

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the company’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $152.50, for a total value of $1,422,062.50. Following the completion of the sale, the vice president now directly owns 1,057 shares of the company’s stock, valued at approximately $161,192.50. This represents a 89.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages recently weighed in on CVX. UBS Group reduced their price objective on shares of Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd. Royal Bank of Canada restated an “outperform” rating and issued a $175.00 target price on shares of Chevron in a report on Monday, February 3rd. Wells Fargo & Company dropped their target price on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Piper Sandler dropped their target price on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Finally, Raymond James dropped their target price on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a report on Monday, February 3rd. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $174.13.

Chevron Trading Up 2.3 %

CVX opened at $157.10 on Monday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11. The firm has a market capitalization of $276.59 billion, a PE ratio of 16.16, a P/E/G ratio of 1.46 and a beta of 1.08. The company’s 50-day moving average is $155.03 and its 200 day moving average is $152.06.

Chevron (NYSE:CVX) last posted its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.36). Chevron had a return on equity of 11.44% and a net margin of 8.71%. During the same quarter last year, the business posted $3.45 earnings per share. As a group, research analysts predict that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were given a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 4.35%. This is an increase from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend was Friday, February 14th. Chevron’s dividend payout ratio is presently 70.37%.

About Chevron

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.