Sargent Investment Group LLC Has $4.36 Million Position in Chevron Co. (NYSE:CVX)

Sargent Investment Group LLC boosted its position in shares of Chevron Co. (NYSE:CVX) by 44.5% during the 4th quarter, Holdings Channel reports. The institutional investor owned 28,046 shares of the oil and gas company’s stock after purchasing an additional 8,631 shares during the quarter. Sargent Investment Group LLC’s holdings in Chevron were worth $4,357,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Rational Advisors LLC bought a new position in Chevron in the third quarter valued at about $29,000. Legacy Investment Solutions LLC bought a new position in shares of Chevron in the 3rd quarter valued at about $29,000. Darwin Wealth Management LLC acquired a new stake in shares of Chevron during the 3rd quarter worth approximately $30,000. RPg Family Wealth Advisory LLC bought a new stake in shares of Chevron during the third quarter worth approximately $31,000. Finally, New Wave Wealth Advisors LLC acquired a new position in Chevron in the fourth quarter valued at approximately $39,000. 72.42% of the stock is currently owned by institutional investors.

Chevron Price Performance

Shares of CVX opened at $153.14 on Wednesday. The company has a 50 day moving average of $152.97 and a 200-day moving average of $150.93. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $275.20 billion, a P/E ratio of 15.75, a P/E/G ratio of 1.29 and a beta of 1.11. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share for the quarter, missing analysts’ consensus estimates 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 company earned $3.45 earnings per share. As a group, equities research analysts forecast that Chevron Co. will post 11.45 EPS for the current fiscal year.

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 4.47%. This is a boost from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date is Friday, February 14th. Chevron’s payout ratio is 67.08%.

Analyst Upgrades and Downgrades

A number of analysts have commented on CVX shares. Barclays lifted their target price on shares of Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective for the company in a report on Tuesday, November 5th. Scotiabank reduced their target price on Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $145.00 to $185.00 in a research report on Tuesday, November 26th. Finally, Wells Fargo & Company cut their price target on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a research report on Monday. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, Chevron currently has a consensus rating of “Moderate Buy” and an average price target of $174.33.

Insider Buying and Selling at Chevron

In other news, CEO Michael K. Wirth sold 164,600 shares of Chevron stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the completion of the sale, the chief executive officer now owns 4,280 shares of the company’s stock, valued at approximately $685,356.40. This trade represents a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.20% of the company’s stock.

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.