Argyle Capital Management LLC Increases Stake in Chevron Co. (NYSE:CVX)

Argyle Capital Management LLC grew its position in Chevron Co. (NYSE:CVX) by 10.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 26,355 shares of the oil and gas company’s stock after buying an additional 2,515 shares during the period. Chevron makes up about 1.5% of Argyle Capital Management LLC’s investment portfolio, making the stock its 18th largest holding. Argyle Capital Management LLC’s holdings in Chevron were worth $3,817,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CVX. Tacita Capital Inc lifted its position in Chevron by 16.7% in the 3rd quarter. Tacita Capital Inc now owns 454 shares of the oil and gas company’s stock valued at $67,000 after acquiring an additional 65 shares in the last quarter. Wallace Capital Management Inc. lifted its holdings in shares of Chevron by 0.8% during the third quarter. Wallace Capital Management Inc. now owns 8,229 shares of the oil and gas company’s stock valued at $1,212,000 after purchasing an additional 65 shares in the last quarter. TFB Advisors LLC boosted its position in shares of Chevron by 2.4% during the fourth quarter. TFB Advisors LLC now owns 2,840 shares of the oil and gas company’s stock valued at $411,000 after buying an additional 66 shares during the last quarter. W.H. Cornerstone Investments Inc. increased its holdings in Chevron by 1.4% in the 4th quarter. W.H. Cornerstone Investments Inc. now owns 4,672 shares of the oil and gas company’s stock worth $677,000 after buying an additional 66 shares in the last quarter. Finally, Parkside Financial Bank & Trust raised its position in Chevron by 0.4% in the 4th quarter. Parkside Financial Bank & Trust now owns 15,240 shares of the oil and gas company’s stock worth $2,207,000 after buying an additional 66 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Insider Transactions at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the business’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $152.50, for a total value of $1,422,062.50. Following the sale, the vice president now owns 1,057 shares in the company, valued at $161,192.50. The trade was a 89.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.20% of the company’s stock.

Chevron Trading Up 0.9 %

Shares of Chevron stock opened at $156.57 on Friday. 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 company has a fifty day moving average of $152.83 and a 200 day moving average of $151.34. The company has a market capitalization of $281.36 billion, a P/E ratio of 16.11, a P/E/G ratio of 1.46 and a beta of 1.11. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11.

Chevron (NYSE:CVX) last released its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a return on equity of 11.44% and a net margin of 8.71%. During the same period in the previous year, the firm posted $3.45 EPS. On average, sell-side analysts anticipate that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be given a dividend of $1.71 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.84 annualized dividend and a dividend yield of 4.37%. This is a boost from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio (DPR) is presently 70.37%.

Analysts Set New Price Targets

CVX has been the topic of a number of recent analyst reports. Barclays dropped their price target on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Piper Sandler reduced their price objective on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. UBS Group lowered their price objective on shares of Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd. Raymond James cut their target price on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research report on Monday, February 3rd. Finally, Citigroup upgraded shares of Chevron from a “neutral” rating to a “buy” rating and increased their price target for the stock from $145.00 to $185.00 in a research report on Tuesday, November 26th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $174.13.

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.