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

Argent Capital Management LLC decreased its holdings in shares of Chevron Co. (NYSE:CVX) by 4.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 173,118 shares of the oil and gas company’s stock after selling 7,543 shares during the quarter. Argent Capital Management LLC’s holdings in Chevron were worth $25,495,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Ameriprise Financial Inc. lifted its position in shares of Chevron by 3.0% during the second quarter. Ameriprise Financial Inc. now owns 17,111,051 shares of the oil and gas company’s stock worth $2,676,957,000 after purchasing an additional 501,969 shares during the last quarter. Capital World Investors lifted its holdings in Chevron by 3.2% during the 1st quarter. Capital World Investors now owns 16,009,766 shares of the oil and gas company’s stock valued at $2,525,380,000 after buying an additional 495,879 shares in the last quarter. Legal & General Group Plc boosted its position in Chevron by 4.9% in the 2nd quarter. Legal & General Group Plc now owns 13,570,971 shares of the oil and gas company’s stock valued at $2,122,772,000 after buying an additional 629,644 shares during the period. Capital International Investors grew its stake in Chevron by 5.9% in the 1st quarter. Capital International Investors now owns 13,418,287 shares of the oil and gas company’s stock worth $2,116,600,000 after acquiring an additional 743,042 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Chevron by 1.0% during the second quarter. Dimensional Fund Advisors LP now owns 13,021,023 shares of the oil and gas company’s stock worth $2,036,846,000 after acquiring an additional 126,889 shares during the period. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Wells Fargo & Company dropped their price objective on Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a research note on Friday, September 27th. Barclays dropped their price target on Chevron from $185.00 to $168.00 and set an “overweight” rating on the stock in a research report on Thursday, October 3rd. Royal Bank of Canada restated an “outperform” rating and issued a $170.00 price objective on shares of Chevron in a report on Tuesday, October 8th. Scotiabank dropped 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. Finally, Sanford C. Bernstein downgraded shares of Chevron from an “outperform” rating to a “market perform” rating and cut their target price for the company from $183.00 to $167.00 in a research report on Wednesday, July 17th. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $173.07.

Chevron Stock Down 0.0 %

Chevron stock opened at $150.46 on Friday. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11. The firm has a market capitalization of $275.18 billion, a price-to-earnings ratio of 14.90, a price-to-earnings-growth ratio of 3.30 and a beta of 1.09. The stock’s fifty day moving average is $146.44 and its two-hundred day moving average is $153.45. 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 data 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). The company had revenue of $51.18 billion for the quarter, compared to analyst estimates of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. The firm’s revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the business earned $3.08 EPS. Analysts predict that Chevron Co. will post 10.86 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were issued a $1.63 dividend. The ex-dividend date was Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.33%. Chevron’s dividend payout ratio (DPR) is presently 64.55%.

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.