Sargent Investment Group LLC Raises Stake in Chevron Co. (NYSE:CVX)

Sargent Investment Group LLC grew its stake in shares of Chevron Co. (NYSE:CVXGet Rating) by 1.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,723 shares of the oil and gas company’s stock after purchasing an additional 100 shares during the quarter. Sargent Investment Group LLC’s holdings in Chevron were worth $1,420,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Geode Capital Management LLC raised its holdings in shares of Chevron by 2.1% in the fourth quarter. Geode Capital Management LLC now owns 32,250,237 shares of the oil and gas company’s stock valued at $3,776,323,000 after acquiring an additional 667,875 shares in the last quarter. Norges Bank bought a new stake in shares of Chevron in the fourth quarter valued at about $3,111,594,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Chevron by 1.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 14,507,398 shares of the oil and gas company’s stock valued at $1,702,446,000 after acquiring an additional 254,353 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Chevron by 6.8% in the fourth quarter. Invesco Ltd. now owns 14,400,260 shares of the oil and gas company’s stock valued at $1,689,870,000 after acquiring an additional 917,773 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Chevron by 4.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 8,326,228 shares of the oil and gas company’s stock valued at $977,069,000 after acquiring an additional 346,881 shares in the last quarter. 65.89% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Mark A. Nelson sold 117,400 shares of the stock in a transaction that occurred on Tuesday, May 10th. The stock was sold at an average price of $159.47, for a total transaction of $18,721,778.00. Following the transaction, the executive vice president now owns 788 shares in the company, valued at approximately $125,662.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Wanda M. Austin sold 12,039 shares of the stock in a transaction on Friday, May 27th. The stock was sold at an average price of $177.29, for a total value of $2,134,394.31. Following the completion of the transaction, the director now directly owns 3,543 shares of the company’s stock, valued at approximately $628,138.47. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Mark A. Nelson sold 117,400 shares of the stock in a transaction on Tuesday, May 10th. The shares were sold at an average price of $159.47, for a total value of $18,721,778.00. Following the completion of the transaction, the executive vice president now directly owns 788 shares of the company’s stock, valued at $125,662.36. The disclosure for this sale can be found here. Insiders have sold 399,043 shares of company stock worth $67,010,843 in the last quarter. Corporate insiders own 0.32% of the company’s stock.

Chevron Trading Down 2.7 %

Chevron stock opened at $151.14 on Friday. The company has a current ratio of 1.43, a quick ratio of 1.22 and a debt-to-equity ratio of 0.20. Chevron Co. has a 12 month low of $92.86 and a 12 month high of $182.40. The stock’s 50 day simple moving average is $154.86 and its two-hundred day simple moving average is $155.19. The firm has a market cap of $296.96 billion, a PE ratio of 10.08, a P/E/G ratio of 0.63 and a beta of 1.15.

Chevron (NYSE:CVXGet Rating) last released its quarterly earnings data on Friday, July 29th. The oil and gas company reported $5.82 EPS for the quarter, topping the consensus estimate of $4.66 by $1.16. Chevron had a return on equity of 20.19% and a net margin of 13.45%. The business had revenue of $68.76 billion for the quarter, compared to analyst estimates of $57.69 billion. During the same quarter in the prior year, the firm posted $1.71 EPS. The business’s quarterly revenue was up 82.9% compared to the same quarter last year. Analysts anticipate that Chevron Co. will post 17.51 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 12th. Stockholders of record on Friday, August 19th will be given a dividend of $1.42 per share. The ex-dividend date of this dividend is Thursday, August 18th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 3.76%. Chevron’s dividend payout ratio (DPR) is 37.89%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Wells Fargo & Company lifted their price objective on Chevron from $181.00 to $185.00 and gave the company an “overweight” rating in a report on Monday. The Goldman Sachs Group reiterated a “neutral” rating and issued a $172.00 target price on shares of Chevron in a report on Thursday. Truist Financial reduced their target price on shares of Chevron from $170.00 to $166.00 and set a “hold” rating for the company in a report on Tuesday, July 19th. Credit Suisse Group boosted their target price on shares of Chevron from $190.00 to $202.00 and gave the stock an “outperform” rating in a report on Thursday, June 9th. Finally, Citigroup reduced their target price on shares of Chevron from $170.00 to $150.00 and set a “neutral” rating for the company in a report on Wednesday, July 13th. One analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $173.00.

Chevron Profile

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Chevron Corporation, through its subsidiaries, engages in integrated energy and chemicals operations worldwide. 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 associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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