AR Asset Management Inc. Has $13.90 Million Position in Chevron Co. (NYSE:CVX)

AR Asset Management Inc. decreased its stake in Chevron Co. (NYSE:CVX) by 0.1% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 117,194 shares of the oil and gas company’s stock after selling 100 shares during the quarter. Chevron comprises 4.9% of AR Asset Management Inc.’s portfolio, making the stock its 2nd biggest holding. AR Asset Management Inc.’s holdings in Chevron were worth $13,899,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Nuveen Asset Management LLC grew its stake in Chevron by 2,073.6% during the 2nd quarter. Nuveen Asset Management LLC now owns 14,886,232 shares of the oil and gas company’s stock worth $1,852,443,000 after buying an additional 14,201,379 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Chevron by 3.5% in the 2nd quarter. BlackRock Inc. now owns 131,522,440 shares of the oil and gas company’s stock valued at $16,366,651,000 after buying an additional 4,401,622 shares during the period. Thoroughbred Financial Services LLC lifted its holdings in shares of Chevron by 12,204.4% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 3,259,805 shares of the oil and gas company’s stock valued at $325,980,000 after buying an additional 3,233,312 shares during the period. APG Asset Management N.V. lifted its holdings in shares of Chevron by 59.6% in the 2nd quarter. APG Asset Management N.V. now owns 5,518,090 shares of the oil and gas company’s stock valued at $602,978,000 after buying an additional 2,061,187 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in shares of Chevron by 1.0% in the 2nd quarter. Vanguard Group Inc. now owns 157,513,617 shares of the oil and gas company’s stock valued at $19,600,995,000 after buying an additional 1,572,940 shares during the period. 65.69% of the stock is owned by hedge funds and other institutional investors.

CVX stock traded up $1.05 on Wednesday, hitting $116.94. 5,706,713 shares of the company’s stock traded hands, compared to its average volume of 6,390,113. The stock has a fifty day moving average of $118.21 and a 200-day moving average of $119.89. Chevron Co. has a 1-year low of $100.22 and a 1-year high of $127.34. The stock has a market cap of $221.48 billion, a price-to-earnings ratio of 14.17, a P/E/G ratio of 3.06 and a beta of 1.01. The company has a current ratio of 1.12, a quick ratio of 0.93 and a debt-to-equity ratio of 0.16.

Chevron (NYSE:CVX) last posted its earnings results on Friday, November 1st. The oil and gas company reported $1.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.47 by ($0.11). The firm had revenue of $36.12 billion during the quarter, compared to analyst estimates of $37.69 billion. Chevron had a net margin of 8.70% and a return on equity of 8.89%. The business’s quarterly revenue was down 17.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.11 earnings per share. On average, equities research analysts anticipate that Chevron Co. will post 6.39 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be issued a dividend of $1.19 per share. This represents a $4.76 dividend on an annualized basis and a dividend yield of 4.07%. The ex-dividend date is Friday, November 15th. Chevron’s payout ratio is 57.70%.

In other Chevron news, CEO Michael K. Wirth sold 33,750 shares of Chevron stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $125.00, for a total value of $4,218,750.00. Following the transaction, the chief executive officer now owns 33,750 shares of the company’s stock, valued at $4,218,750. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider David A. Inchausti sold 15,000 shares of the business’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $119.89, for a total transaction of $1,798,350.00. Following the completion of the sale, the insider now directly owns 15,000 shares in the company, valued at approximately $1,798,350. The disclosure for this sale can be found here. Insiders have sold a total of 63,750 shares of company stock valued at $7,891,650 over the last ninety days. 0.31% of the stock is owned by insiders.

A number of research firms recently weighed in on CVX. Cowen reduced their price target on Chevron from $140.00 to $134.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Barclays initiated coverage on Chevron in a research note on Monday, August 19th. They set an “overweight” rating and a $145.00 price target on the stock. Independent Research set a $127.00 price objective on Chevron and gave the company a “neutral” rating in a research note on Thursday, August 29th. ValuEngine raised Chevron from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Piper Jaffray Companies began coverage on Chevron in a report on Tuesday, November 26th. They set a “buy” rating and a $143.00 price target on the stock. Five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Chevron currently has a consensus rating of “Buy” and a consensus target price of $136.23.

Chevron Company Profile

Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production of crude oil and natural gas; processing, liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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