Chevron Corporation (NYSE:CVX) Shares Sold by Argentarii LLC

Argentarii LLC reduced its stake in shares of Chevron Corporation (NYSE:CVX) by 12.9% in the 1st quarter, HoldingsChannel reports. The firm owned 2,309 shares of the oil and gas company’s stock after selling 342 shares during the quarter. Argentarii LLC’s holdings in Chevron were worth $386,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CVX. IMG Wealth Management Inc. acquired a new position in shares of Chevron in the fourth quarter worth $25,000. Life Planning Partners Inc purchased a new stake in Chevron during the 4th quarter worth about $25,000. Mizuho Securities Co. Ltd. acquired a new position in Chevron in the 4th quarter valued at about $29,000. 10Elms LLP acquired a new position in Chevron in the 4th quarter valued at about $29,000. Finally, Fairway Wealth LLC lifted its holdings in Chevron by 75.9% in the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock valued at $30,000 after purchasing an additional 88 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

CVX has been the subject of a number of analyst reports. HSBC lowered shares of Chevron from a “buy” rating to a “hold” rating and cut their price objective for the company from $176.00 to $158.00 in a research report on Tuesday, May 13th. TD Cowen cut their price target on Chevron from $155.00 to $150.00 and set a “hold” rating for the company in a report on Monday, May 5th. UBS Group reduced their price target on Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, April 7th. Piper Sandler lifted their price objective on Chevron from $162.00 to $164.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, Hsbc Global Res lowered Chevron from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 13th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $160.41.

Chevron Trading Up 0.2%

CVX opened at $148.23 on Friday. The stock has a market capitalization of $258.86 billion, a PE ratio of 16.94, a P/E/G ratio of 2.51 and a beta of 0.83. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.08 and a quick ratio of 0.82. Chevron Corporation has a 12-month low of $132.04 and a 12-month high of $168.96. The firm’s fifty day moving average price is $141.16 and its 200 day moving average price is $148.10.

Chevron (NYSE:CVX) last issued its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.15 by $0.03. The business had revenue of $47.61 billion for the quarter, compared to analyst estimates of $49.05 billion. Chevron had a net margin of 7.76% and a return on equity of 10.73%. The company’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.93 EPS. As a group, research analysts expect that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were given a $1.71 dividend. The ex-dividend date was Monday, May 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.61%. Chevron’s payout ratio is 78.17%.

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.