Argent Capital Management LLC Sells 7,543 Shares of Chevron Co. (NYSE:CVX)

Argent Capital Management LLC cut its holdings in shares of Chevron Co. (NYSE:CVX) by 4.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 173,118 shares of the oil and gas company’s stock after selling 7,543 shares during the period. Argent Capital Management LLC’s holdings in Chevron were worth $25,495,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CVX. Impact Partnership Wealth LLC lifted its holdings in shares of Chevron by 10.1% in the third quarter. Impact Partnership Wealth LLC now owns 7,001 shares of the oil and gas company’s stock valued at $1,031,000 after purchasing an additional 642 shares in the last quarter. Grimes & Company Inc. grew its position in shares of Chevron by 3.9% in the third quarter. Grimes & Company Inc. now owns 59,593 shares of the oil and gas company’s stock valued at $8,776,000 after purchasing an additional 2,260 shares during the last quarter. PSI Advisors LLC grew its position in shares of Chevron by 1.9% in the third quarter. PSI Advisors LLC now owns 12,946 shares of the oil and gas company’s stock valued at $1,907,000 after purchasing an additional 243 shares during the last quarter. Asset Planning Services Inc. LA ADV grew its position in shares of Chevron by 1.8% in the third quarter. Asset Planning Services Inc. LA ADV now owns 43,765 shares of the oil and gas company’s stock valued at $6,445,000 after purchasing an additional 775 shares during the last quarter. Finally, Boyd Watterson Asset Management LLC OH lifted its position in shares of Chevron by 1.5% during the 3rd quarter. Boyd Watterson Asset Management LLC OH now owns 18,973 shares of the oil and gas company’s stock valued at $2,794,000 after acquiring an additional 281 shares during the period. 72.42% of the stock is currently owned by institutional investors.

Chevron Price Performance

CVX opened at $150.46 on Friday. The company’s 50-day simple moving average is $146.44 and its two-hundred day simple moving average is $153.45. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $167.11. The stock has a market capitalization of $275.18 billion, a P/E ratio of 14.90, a P/E/G ratio of 3.30 and a beta of 1.09. 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 announced its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 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 business had revenue of $51.18 billion for the quarter, compared to analysts’ expectations of $48.68 billion. During the same period in the prior year, the company posted $3.08 earnings per share. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. As a group, analysts predict that Chevron Co. will post 10.86 EPS for the current year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were paid a dividend of $1.63 per share. The ex-dividend date was Monday, August 19th. This represents a $6.52 annualized dividend and a yield of 4.33%. Chevron’s payout ratio is 64.55%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on CVX shares. UBS Group boosted their target price on shares of Chevron from $189.00 to $192.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Sanford C. Bernstein lowered shares of Chevron from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $183.00 to $167.00 in a report on Wednesday, July 17th. Scotiabank reduced their target price on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Mizuho reduced their target price on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a report on Monday, September 16th. Finally, Truist Financial reduced their target price on shares of Chevron from $154.00 to $150.00 and set a “hold” rating on the stock in a report on Monday, September 30th. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $173.07.

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.