Argent Capital Management LLC Sells 3,430 Shares of Chevron Co. (NYSE:CVX)

Argent Capital Management LLC trimmed its holdings in Chevron Co. (NYSE:CVX) by 2.0% in the 4th quarter, Holdings Channel reports. The fund owned 169,688 shares of the oil and gas company’s stock after selling 3,430 shares during the quarter. Argent Capital Management LLC’s holdings in Chevron were worth $24,578,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of CVX. Rational Advisors LLC bought a new position in shares of Chevron during the third quarter valued at approximately $29,000. Legacy Investment Solutions LLC bought a new position in Chevron during the 3rd quarter valued at approximately $29,000. Darwin Wealth Management LLC purchased a new position in Chevron during the third quarter valued at $30,000. RPg Family Wealth Advisory LLC bought a new stake in Chevron in the third quarter worth $31,000. Finally, Cyrus J. Lawrence LLC increased its holdings in shares of Chevron by 66.7% during the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after acquiring an additional 100 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Stock Up 0.6 %

CVX opened at $159.33 on Friday. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11. The firm’s 50 day simple moving average is $153.79 and its two-hundred day simple moving average is $151.00. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $286.32 billion, a PE ratio of 17.51, a PEG ratio of 2.62 and a beta of 1.12.

Chevron (NYSE:CVX) last released its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, beating the consensus estimate of $2.47 by $0.04. The company had revenue of $50.67 billion for the quarter, compared to the consensus estimate of $48.86 billion. Chevron had a return on equity of 13.15% and a net margin of 8.44%. Chevron’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same period in the previous year, the business earned $3.05 earnings per share. As a group, equities analysts forecast that Chevron Co. will post 10.39 EPS for the current year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th were given a $1.63 dividend. The ex-dividend date was Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.09%. Chevron’s payout ratio is currently 71.65%.

Insider Transactions at Chevron

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total value of $26,357,398.00. Following the completion of the sale, the chief executive officer now owns 4,280 shares in the company, valued at approximately $685,356.40. This represents a 97.47 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Truist Financial upped their price target on shares of Chevron from $160.00 to $164.00 and gave the stock a “hold” rating in a research note on Monday. Scotiabank cut their price target 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. Piper Sandler decreased their price objective on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Royal Bank of Canada increased their target price on Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. Finally, Citigroup raised Chevron from a “neutral” rating to a “buy” rating and upped their price target for the company from $145.00 to $185.00 in a report on Tuesday, November 26th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $174.87.

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.