Argent Capital Management LLC trimmed its stake in shares of Chevron Co. (NYSE:CVX) by 3.1% during the 2nd quarter, Holdings Channel reports. The fund owned 178,962 shares of the oil and gas company’s stock after selling 5,660 shares during the quarter. Argent Capital Management LLC’s holdings in Chevron were worth $22,270,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently bought and sold shares of CVX. BlackRock Inc. grew its holdings in Chevron by 3.5% during the second quarter. BlackRock Inc. now owns 131,522,440 shares of the oil and gas company’s stock worth $16,366,651,000 after acquiring an additional 4,401,622 shares during the period. Thoroughbred Financial Services LLC grew its holdings in Chevron by 12,204.4% during the second quarter. Thoroughbred Financial Services LLC now owns 3,259,805 shares of the oil and gas company’s stock worth $325,980,000 after acquiring an additional 3,233,312 shares during the period. APG Asset Management N.V. grew its holdings in Chevron by 59.6% during the second quarter. APG Asset Management N.V. now owns 5,518,090 shares of the oil and gas company’s stock worth $602,978,000 after acquiring an additional 2,061,187 shares during the period. Vanguard Group Inc. grew its holdings in Chevron by 1.0% during the second quarter. Vanguard Group Inc. now owns 157,513,617 shares of the oil and gas company’s stock worth $19,600,995,000 after acquiring an additional 1,572,940 shares during the period. Finally, PGGM Investments acquired a new stake in Chevron during the second quarter worth about $164,371,000. 65.61% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director Debra L. Reed acquired 4,250 shares of Chevron stock in a transaction that occurred on Wednesday, August 7th. The shares were purchased at an average price of $118.14 per share, for a total transaction of $502,095.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Pierre R. Breber sold 15,000 shares of Chevron stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $124.97, for a total value of $1,874,550.00. The disclosure for this sale can be found here. Insiders sold 86,750 shares of company stock worth $10,648,200 over the last ninety days. Corporate insiders own 0.31% of the company’s stock.
Several research firms recently commented on CVX. Morgan Stanley dropped their target price on Chevron from $146.00 to $144.00 and set an “overweight” rating on the stock in a report on Friday, July 12th. BMO Capital Markets began coverage on Chevron in a report on Tuesday, August 20th. They issued an “outperform” rating and a $165.00 price objective on the stock. Cowen set a $140.00 price objective on Chevron and gave the company a “buy” rating in a report on Friday, August 30th. Independent Research set a $127.00 price objective on Chevron and gave the company a “neutral” rating in a report on Thursday, August 29th. Finally, ValuEngine lowered Chevron from a “hold” rating to a “sell” rating in a report on Wednesday, September 11th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $136.22.
Shares of NYSE:CVX traded up $0.66 during trading on Friday, reaching $124.32. The stock had a trading volume of 10,420,623 shares, compared to its average volume of 5,329,293. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.91 and a current ratio of 1.15. The business has a fifty day moving average price of $119.23 and a 200-day moving average price of $121.40. The stock has a market cap of $234.76 billion, a PE ratio of 15.07, a PEG ratio of 3.10 and a beta of 1.01. Chevron Co. has a 1-year low of $100.22 and a 1-year high of $127.60.
Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.27 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.74 by $0.53. The firm had revenue of $38.85 billion for the quarter, compared to analyst estimates of $40.14 billion. Chevron had a return on equity of 9.58% and a net margin of 9.18%. The business’s revenue was down 8.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.78 earnings per share. Sell-side analysts expect that Chevron Co. will post 6.76 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were paid a $1.19 dividend. This represents a $4.76 dividend on an annualized basis and a dividend yield of 3.83%. The ex-dividend date was Friday, August 16th. Chevron’s dividend payout ratio is presently 57.70%.
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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