Arete Wealth Advisors LLC Has $3.59 Million Holdings in Chevron Corporation $CVX

Arete Wealth Advisors LLC increased its holdings in Chevron Corporation (NYSE:CVX) by 4.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,441 shares of the oil and gas company’s stock after purchasing an additional 821 shares during the period. Arete Wealth Advisors LLC’s holdings in Chevron were worth $3,587,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Bank Pictet & Cie Europe AG raised its holdings in Chevron by 7.9% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 35,985 shares of the oil and gas company’s stock worth $5,212,000 after acquiring an additional 2,641 shares during the period. Algert Global LLC grew its position in shares of Chevron by 21.9% in the fourth quarter. Algert Global LLC now owns 3,010 shares of the oil and gas company’s stock valued at $436,000 after purchasing an additional 540 shares during the last quarter. Ethic Inc. increased its stake in shares of Chevron by 69.2% in the fourth quarter. Ethic Inc. now owns 22,646 shares of the oil and gas company’s stock worth $3,280,000 after purchasing an additional 9,265 shares during the period. Janus Henderson Group PLC lifted its position in shares of Chevron by 27.3% during the 4th quarter. Janus Henderson Group PLC now owns 3,897,183 shares of the oil and gas company’s stock worth $564,503,000 after purchasing an additional 835,990 shares during the last quarter. Finally, Investor s Fiduciary Advisor Network LLC acquired a new position in shares of Chevron during the 4th quarter worth about $1,721,000. 72.42% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on CVX shares. Hsbc Global Res downgraded Chevron from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 13th. Wells Fargo & Company reaffirmed an “overweight” rating and set a $178.00 target price on shares of Chevron in a research report on Friday, August 1st. HSBC downgraded shares of Chevron from a “buy” rating to a “hold” rating and reduced their price target for the company from $176.00 to $158.00 in a report on Tuesday, May 13th. Mizuho decreased their price target on shares of Chevron from $188.00 to $186.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 13th. Finally, UBS Group upped their price objective on shares of Chevron from $186.00 to $197.00 and gave the company a “buy” rating in a research report on Wednesday, August 20th. Eleven investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, Chevron has an average rating of “Hold” and a consensus target price of $163.95.

Insider Buying and Selling at Chevron

In other Chevron news, Director John B. Hess sold 375,000 shares of the business’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $158.30, for a total value of $59,362,500.00. Following the transaction, the director directly owned 1,403,045 shares in the company, valued at $222,102,023.50. The trade was a 21.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Alana K. Knowles sold 3,978 shares of the company’s stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $160.00, for a total transaction of $636,480.00. Following the sale, the vice president directly owned 1,181 shares in the company, valued at $188,960. This represents a 77.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by insiders.

Chevron Price Performance

Shares of Chevron stock opened at $153.83 on Monday. The firm has a market cap of $265.81 billion, a P/E ratio of 19.80, a price-to-earnings-growth ratio of 2.28 and a beta of 0.90. The firm’s 50-day simple moving average is $153.69 and its 200-day simple moving average is $148.80. Chevron Corporation 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 0.16, a quick ratio of 0.74 and a current ratio of 1.00.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.19. The firm had revenue of $44.82 billion during the quarter, compared to analysts’ expectations of $44.59 billion. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The company’s revenue for the quarter was down 12.4% compared to the same quarter last year. During the same quarter last year, the company earned $2.55 earnings per share. As a group, research analysts expect that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th will be issued a dividend of $1.71 per share. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.4%. Chevron’s dividend payout ratio (DPR) is presently 88.03%.

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.