Arista Wealth Management LLC Makes New Investment in Chevron Co. (NYSE:CVX)

Arista Wealth Management LLC acquired a new stake in Chevron Co. (NYSE:CVX) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,413 shares of the oil and gas company’s stock, valued at approximately $221,000.

Several other large investors have also recently added to or reduced their stakes in CVX. American Capital Advisory LLC increased its holdings in shares of Chevron by 403.2% in the 1st quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock valued at $25,000 after acquiring an additional 125 shares during the last quarter. Frank Rimerman Advisors LLC purchased a new stake in shares of Chevron during the 4th quarter worth approximately $30,000. Anfield Capital Management LLC boosted its holdings in shares of Chevron by 118.0% in the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock valued at $34,000 after buying an additional 118 shares in the last quarter. Cooksen Wealth LLC purchased a new position in shares of Chevron in the 4th quarter valued at $40,000. Finally, Clear Investment Research LLC lifted its position in Chevron by 264.9% in the fourth quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock valued at $42,000 after acquiring an additional 204 shares during the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Stock Up 0.5 %

Shares of NYSE CVX opened at $145.65 on Friday. The firm has a market cap of $268.43 billion, a P/E ratio of 13.40, a price-to-earnings-growth ratio of 2.48 and a beta of 1.09. The firm’s 50 day moving average price is $148.06 and its 200 day moving average price is $154.45. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $171.70. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). Chevron had a net margin of 9.31% and a return on equity of 13.70%. The firm had revenue of $51.18 billion for the quarter, compared to analysts’ expectations of $48.68 billion. Chevron’s revenue was up 4.7% on a year-over-year basis. During the same period last year, the firm posted $3.08 EPS. As a group, sell-side analysts anticipate that Chevron Co. will post 11.48 earnings per share for the current year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were given a dividend of $1.63 per share. The ex-dividend date was Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.48%. Chevron’s payout ratio is currently 59.98%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. UBS Group cut their target price on Chevron from $192.00 to $189.00 and set a “buy” rating on the stock in a research report on Wednesday. Scotiabank decreased their price objective on Chevron from $195.00 to $180.00 and set a “sector outperform” rating for the company in a report on Friday, July 12th. Barclays lowered their price objective on shares of Chevron from $203.00 to $185.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 6th. Mizuho reduced their price objective on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research note on Monday, September 16th. Finally, Truist Financial cut their price target on Chevron from $156.00 to $154.00 and set a “hold” rating for the company in a research note on Monday, August 5th. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, Chevron presently has a consensus rating of “Moderate Buy” and an average target price of $182.41.

Chevron 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.