Sargent Investment Group LLC Increases Stock Position in Chevron Co. (NYSE:CVX)

Sargent Investment Group LLC raised its holdings in Chevron Co. (NYSE:CVX) by 14.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 19,415 shares of the oil and gas company’s stock after purchasing an additional 2,432 shares during the period. Sargent Investment Group LLC’s holdings in Chevron were worth $2,859,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of CVX. Ameriprise Financial Inc. increased its position in 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 boosted its stake 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 acquiring an additional 495,879 shares during the last quarter. Legal & General Group Plc lifted 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 purchasing an additional 629,644 shares during the last quarter. Capital International Investors increased its stake in Chevron by 5.9% during the 1st quarter. Capital International Investors now owns 13,418,287 shares of the oil and gas company’s stock valued at $2,116,600,000 after buying an additional 743,042 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of Chevron by 1.0% in 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 in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CVX. Wells Fargo & Company dropped their target price on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a research report on Friday, September 27th. Mizuho lowered their price objective 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. Truist Financial raised their target price on shares of Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a research note on Monday, November 4th. DZ Bank raised shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective for the company in a research report on Tuesday, November 5th. Finally, Royal Bank of Canada boosted their price target on Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, Chevron currently has an average rating of “Moderate Buy” and an average target price of $174.93.

Chevron Trading Up 1.0 %

CVX stock traded up $1.53 during midday trading on Thursday, reaching $160.25. 2,670,620 shares of the company traded hands, compared to its average volume of 7,638,074. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The business has a 50 day moving average of $148.51 and a 200-day moving average of $152.65. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $167.11. The firm has a market capitalization of $287.98 billion, a price-to-earnings ratio of 17.62, a P/E/G ratio of 3.49 and a beta of 1.09.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The business had revenue of $50.67 billion for the quarter, compared to the consensus estimate of $48.86 billion. During the same period last year, the business posted $3.05 EPS. The business’s revenue was down 6.3% compared to the same quarter last year. As a group, sell-side analysts expect that Chevron Co. will post 10.55 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be paid a dividend of $1.63 per share. The ex-dividend date is Monday, November 18th. This represents a $6.52 annualized dividend and a yield of 4.07%. Chevron’s dividend payout ratio (DPR) is currently 71.65%.

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.