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

Sargent Investment Group LLC boosted its holdings in shares of Chevron Co. (NYSE:CVX) by 14.4% during the 4th quarter, HoldingsChannel.com reports. The fund 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.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Picton Mahoney Asset Management acquired a new stake in shares of Chevron in the 3rd quarter valued at about $26,000. Valley Forge Investment Consultants Inc. ADV raised its stake in shares of Chevron by 80.0% in the 3rd quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock valued at $30,000 after purchasing an additional 80 shares during the period. Valued Wealth Advisors LLC acquired a new stake in shares of Chevron in the 4th quarter valued at about $33,000. Legacy Financial Group LLC acquired a new stake in shares of Chevron in the 3rd quarter valued at about $43,000. Finally, Roble Belko & Company Inc raised its stake in shares of Chevron by 77.3% in the 4th quarter. Roble Belko & Company Inc now owns 344 shares of the oil and gas company’s stock valued at $51,000 after purchasing an additional 150 shares during the period. 72.42% of the stock is currently owned by institutional investors.

Chevron Price Performance

Shares of NYSE:CVX traded up $0.61 during trading on Friday, hitting $165.89. 9,736,350 shares of the company were exchanged, compared to its average volume of 7,082,480. The business’s 50 day moving average is $156.58 and its 200-day moving average is $151.73. The company has a market capitalization of $308.10 billion, a P/E ratio of 15.26, a price-to-earnings-growth ratio of 2.44 and a beta of 1.12. The company has a quick ratio of 1.01, a current ratio of 1.27 and a debt-to-equity ratio of 0.13. Chevron Co. has a 1-year low of $139.62 and a 1-year high of $171.70.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, beating analysts’ consensus estimates of $2.84 by $0.09. The business had revenue of $48.72 billion during the quarter, compared to the consensus estimate of $48.42 billion. Chevron had a return on equity of 15.24% and a net margin of 10.63%. Chevron’s quarterly revenue was down 4.1% on a year-over-year basis. During the same period in the prior year, the business posted $3.55 earnings per share. Equities analysts forecast that Chevron Co. will post 13.58 earnings per share for the current year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 17th will be issued a $1.63 dividend. The ex-dividend date of this dividend 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 59.98%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Royal Bank of Canada lifted their target price on Chevron from $185.00 to $190.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. Scotiabank raised Chevron from a “sector perform” rating to a “sector outperform” rating and lifted their target price for the company from $170.00 to $195.00 in a research report on Thursday, April 11th. The Goldman Sachs Group reiterated a “buy” rating on shares of Chevron in a report on Monday, April 1st. UBS Group lifted their price target on Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a report on Tuesday, April 9th. Finally, Jefferies Financial Group upgraded Chevron from a “hold” rating to a “buy” rating and set a $184.00 price target for the company in a report on Monday, January 8th. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $184.75.

Insider Activity at Chevron

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the company’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total transaction of $448,252.00. Following the sale, the vice president now owns 276 shares of the company’s stock, valued at $44,184.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.18% of the stock is currently owned by company insiders.

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.