Sargent Investment Group LLC Buys 2,138 Shares of Chevron Co. (NYSE:CVX)

Sargent Investment Group LLC grew its holdings in shares of Chevron Co. (NYSE:CVX) by 14.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,991 shares of the oil and gas company’s stock after purchasing an additional 2,138 shares during the period. Sargent Investment Group LLC’s holdings in Chevron were worth $2,534,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Windsor Advisory Group LLC raised its stake in shares of Chevron by 24.0% during the third quarter. Windsor Advisory Group LLC now owns 3,720 shares of the oil and gas company’s stock valued at $627,000 after acquiring an additional 720 shares during the last quarter. Renaissance Investment Group LLC raised its position in Chevron by 12.7% in the fourth quarter. Renaissance Investment Group LLC now owns 6,187 shares of the oil and gas company’s stock worth $923,000 after acquiring an additional 697 shares during the period. Altrius Capital Management Inc lifted its stake in shares of Chevron by 2.1% during the 3rd quarter. Altrius Capital Management Inc now owns 21,333 shares of the oil and gas company’s stock valued at $3,597,000 after buying an additional 434 shares in the last quarter. Camelot Portfolios LLC purchased a new stake in Chevron in the 4th quarter worth approximately $254,000. Finally, Strategic Financial Concepts LLC lifted its stake in Chevron by 9.0% in the 3rd quarter. Strategic Financial Concepts LLC now owns 5,775 shares of the oil and gas company’s stock worth $974,000 after purchasing an additional 476 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Transactions at Chevron

In related news, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total value of $448,252.00. Following the sale, the vice president now directly owns 276 shares in the company, valued at approximately $44,184.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

CVX has been the topic of several recent research reports. TD Cowen lowered shares of Chevron from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $170.00 to $150.00 in a report on Tuesday, January 23rd. Jefferies Financial Group raised shares of Chevron from a “hold” rating to a “buy” rating and set a $184.00 price target on the stock in a report on Monday, January 8th. Wells Fargo & Company raised their price target on shares of Chevron from $185.00 to $198.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. Scotiabank raised shares of Chevron from a “sector perform” rating to a “sector outperform” rating and raised their price target for the stock from $170.00 to $195.00 in a report on Thursday, April 11th. Finally, Mizuho raised their price target on shares of Chevron from $195.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, Chevron currently has an average rating of “Moderate Buy” and an average target price of $184.75.

Chevron Stock Performance

NYSE:CVX traded up $0.61 during midday trading on Friday, hitting $165.89. The company’s stock had a trading volume of 9,736,350 shares, compared to its average volume of 7,082,480. The firm has a market cap of $308.10 billion, a P/E ratio of 15.26, a P/E/G ratio of 2.44 and a beta of 1.12. Chevron Co. has a fifty-two week low of $139.62 and a fifty-two week high of $171.70. The firm’s 50 day moving average is $156.58 and its 200-day moving average is $151.73. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.27 and a quick ratio of 1.01.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.84 by $0.09. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The firm had revenue of $48.72 billion for the quarter, compared to analysts’ expectations of $48.42 billion. During the same quarter last year, the company earned $3.55 EPS. The firm’s revenue for the quarter was down 4.1% compared to the same quarter last year. Equities analysts anticipate that Chevron Co. will post 13.58 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 17th will be issued a $1.63 dividend. The ex-dividend date is Thursday, May 16th. This represents a $6.52 dividend on an annualized basis and a yield of 3.93%. Chevron’s payout ratio is currently 59.98%.

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.