Argent Trust Co Sells 2,685 Shares of Chevron Co. (NYSE:CVX)

Argent Trust Co lowered its position in Chevron Co. (NYSE:CVX) by 1.4% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 185,252 shares of the oil and gas company’s stock after selling 2,685 shares during the quarter. Chevron accounts for about 1.3% of Argent Trust Co’s investment portfolio, making the stock its 12th biggest holding. Argent Trust Co’s holdings in Chevron were worth $28,977,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Eagle Capital Management LLC grew its position in shares of Chevron by 0.5% during the 1st quarter. Eagle Capital Management LLC now owns 34,455 shares of the oil and gas company’s stock valued at $5,435,000 after acquiring an additional 163 shares during the period. Lane & Associates LLC bought a new stake in Chevron during the first quarter valued at about $345,000. Seven Mile Advisory increased its position in Chevron by 9.8% in the fourth quarter. Seven Mile Advisory now owns 2,766 shares of the oil and gas company’s stock worth $413,000 after buying an additional 247 shares in the last quarter. KCM Investment Advisors LLC raised its stake in shares of Chevron by 2.5% in the first quarter. KCM Investment Advisors LLC now owns 331,550 shares of the oil and gas company’s stock worth $52,299,000 after buying an additional 8,168 shares during the period. Finally, Livelsberger Financial Advisory purchased a new position in shares of Chevron during the 4th quarter valued at about $46,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Stock Up 1.0 %

Shares of NYSE:CVX opened at $143.46 on Wednesday. The company has a 50-day moving average price of $148.69 and a 200 day moving average price of $154.61. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $171.70. The company has a market cap of $262.38 billion, a price-to-earnings ratio of 13.20, a PEG ratio of 2.41 and a beta of 1.09.

Chevron (NYSE:CVX) last announced its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). Chevron had a return on equity of 13.70% and a net margin of 9.31%. The company had revenue of $51.18 billion during the quarter, compared to analysts’ expectations of $48.68 billion. During the same quarter last year, the firm posted $3.08 EPS. Chevron’s revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, equities research analysts predict that Chevron Co. will post 11.57 earnings per share for the current year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were paid a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 4.54%. The ex-dividend date was Monday, August 19th. Chevron’s dividend payout ratio is currently 59.98%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CVX. Barclays reduced their price objective on shares of Chevron from $203.00 to $185.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th. Truist Financial decreased their price target on Chevron from $156.00 to $154.00 and set a “hold” rating on the stock in a report on Monday, August 5th. Sanford C. Bernstein cut Chevron from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $183.00 to $167.00 in a research report on Wednesday, July 17th. Wolfe Research assumed coverage on Chevron in a report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Finally, Mizuho cut their price objective on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a report on Monday. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, Chevron has an average rating of “Moderate Buy” and a consensus price target of $182.88.

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.