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

Argyle Capital Management LLC raised its holdings in Chevron Co. (NYSE:CVX) by 10.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 26,355 shares of the oil and gas company’s stock after acquiring an additional 2,515 shares during the period. Chevron makes up 1.5% of Argyle Capital Management LLC’s investment portfolio, making the stock its 18th largest position. Argyle Capital Management LLC’s holdings in Chevron were worth $3,817,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of CVX. Parkside Financial Bank & Trust grew its position in Chevron by 0.4% in the fourth quarter. Parkside Financial Bank & Trust now owns 15,240 shares of the oil and gas company’s stock worth $2,207,000 after acquiring an additional 66 shares in the last quarter. Hilltop Partners LLC boosted its holdings in shares of Chevron by 31.3% in the 4th quarter. Hilltop Partners LLC now owns 8,399 shares of the oil and gas company’s stock worth $1,216,000 after purchasing an additional 2,001 shares in the last quarter. Sentinel Trust Co. LBA increased its position in shares of Chevron by 4.9% during the 4th quarter. Sentinel Trust Co. LBA now owns 15,233 shares of the oil and gas company’s stock valued at $2,206,000 after purchasing an additional 707 shares during the last quarter. Shoker Investment Counsel Inc. raised its holdings in shares of Chevron by 1.2% during the 4th quarter. Shoker Investment Counsel Inc. now owns 22,106 shares of the oil and gas company’s stock valued at $3,202,000 after buying an additional 272 shares in the last quarter. Finally, Verus Capital Partners LLC lifted its position in Chevron by 2.6% in the 4th quarter. Verus Capital Partners LLC now owns 21,509 shares of the oil and gas company’s stock worth $3,115,000 after buying an additional 538 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Chevron Trading Up 0.9 %

NYSE:CVX opened at $156.57 on Friday. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $167.11. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The company has a 50-day moving average price of $152.83 and a 200-day moving average price of $151.34. The stock has a market cap of $281.36 billion, a price-to-earnings ratio of 16.11, a P/E/G ratio of 1.46 and a beta of 1.11.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 earnings per share for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a net margin of 8.71% and a return on equity of 11.44%. During the same period in the prior year, the firm earned $3.45 EPS. Equities analysts predict that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be issued a $1.71 dividend. This is an increase from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date is Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a yield of 4.37%. Chevron’s dividend payout ratio is 70.37%.

Analysts Set New Price Targets

A number of research analysts have commented on CVX shares. Piper Sandler reduced their price target on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $145.00 to $185.00 in a research note on Tuesday, November 26th. UBS Group reduced their price objective on Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd. Wells Fargo & Company lowered their target price on Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Finally, DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target on the stock in a research report on Tuesday, November 5th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $174.13.

Insider Buying and Selling at Chevron

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

Chevron Company 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.