Chevron Co. (NYSE:CVX) Shares Purchased by Argent Advisors Inc.

Argent Advisors Inc. boosted its position in Chevron Co. (NYSE:CVX) by 6.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,279 shares of the oil and gas company’s stock after buying an additional 542 shares during the quarter. Argent Advisors Inc.’s holdings in Chevron were worth $1,344,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Flagship Wealth Advisors LLC acquired a new position in Chevron in the 4th quarter worth $1,071,000. Wealth Architects LLC increased its position in shares of Chevron by 24.3% in the 4th quarter. Wealth Architects LLC now owns 3,530 shares of the oil and gas company’s stock worth $511,000 after purchasing an additional 691 shares during the last quarter. Signaturefd LLC increased its position in shares of Chevron by 5.1% in the 4th quarter. Signaturefd LLC now owns 22,874 shares of the oil and gas company’s stock worth $3,313,000 after purchasing an additional 1,113 shares during the last quarter. Creative Financial Designs Inc. ADV increased its position in shares of Chevron by 53.5% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 21,721 shares of the oil and gas company’s stock worth $3,146,000 after purchasing an additional 7,567 shares during the last quarter. Finally, IMG Wealth Management Inc. bought a new stake in shares of Chevron in the 4th quarter worth about $25,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Transactions at Chevron

In related news, VP Jeff B. Gustavson sold 9,325 shares of the stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the completion of the sale, the vice president now directly owns 1,057 shares of the company’s stock, valued at $161,192.50. This represents a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

CVX has been the subject of several research analyst reports. UBS Group dropped their target price on shares of Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a research report on Monday, February 3rd. Royal Bank of Canada reissued an “outperform” rating and issued a $175.00 target price on shares of Chevron in a research report on Monday, February 3rd. Truist Financial dropped their target price on shares of Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research report on Tuesday, February 4th. Wells Fargo & Company lowered their price objective on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Finally, Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $145.00 to $185.00 in a research report on Tuesday, November 26th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $174.13.

Chevron Trading Up 1.1 %

Chevron stock opened at $158.69 on Tuesday. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The firm has a 50-day moving average price of $155.26 and a two-hundred day moving average price of $152.14. The firm has a market capitalization of $279.38 billion, a price-to-earnings ratio of 16.33, a PEG ratio of 1.46 and a beta of 1.08. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $167.11.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.36). Chevron had a return on equity of 11.44% and a net margin of 8.71%. During the same quarter last year, the business earned $3.45 earnings per share. Sell-side analysts expect that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were paid a $1.71 dividend. This is a positive change from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.31%. The ex-dividend date of this dividend was Friday, February 14th. Chevron’s dividend payout ratio is currently 70.37%.

About Chevron

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.