Argonautica Private Wealth Management Inc. Trims Position in Chevron Co. (NYSE:CVX)

Argonautica Private Wealth Management Inc. lowered its stake in Chevron Co. (NYSE:CVX) by 0.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,362 shares of the oil and gas company’s stock after selling 80 shares during the quarter. Argonautica Private Wealth Management Inc.’s holdings in Chevron were worth $2,080,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in CVX. Fjell Capital LLC purchased a new position in shares of Chevron during the fourth quarter worth approximately $890,000. DMKC Advisory Services LLC acquired a new position in shares of Chevron in the 4th quarter valued at about $1,793,000. Advisor OS LLC increased its holdings in Chevron by 23.5% in the fourth quarter. Advisor OS LLC now owns 4,966 shares of the oil and gas company’s stock valued at $719,000 after buying an additional 945 shares in the last quarter. Lake Street Advisors Group LLC grew its stake in Chevron by 67.2% in the 4th quarter. Lake Street Advisors Group LLC now owns 25,372 shares of the oil and gas company’s stock valued at $3,675,000 after acquiring an additional 10,200 shares during the period. Finally, Bradley & Co. Private Wealth Management LLC purchased a new position in Chevron in the 4th quarter valued at about $46,000. Institutional investors own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $175.00 price objective on shares of Chevron in a report on Monday, February 3rd. DZ Bank upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price on the stock in a report on Tuesday, November 5th. Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and raised their target price for the company from $145.00 to $185.00 in a report on Tuesday, November 26th. Raymond James lowered their price objective on Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research report on Monday, February 3rd. Finally, Barclays cut their price target on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 5th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $174.13.

Insider Activity at Chevron

In other news, VP Jeff B. Gustavson sold 9,325 shares of the firm’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $152.50, for a total value of $1,422,062.50. Following the sale, the vice president now directly 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 SEC, which can be accessed through this hyperlink. Insiders own 0.20% of the company’s stock.

Chevron Trading Down 1.0 %

NYSE:CVX opened at $156.38 on Wednesday. The business has a fifty day moving average of $152.30 and a 200-day moving average of $151.28. The stock has a market cap of $281.04 billion, a price-to-earnings ratio of 16.09, a PEG ratio of 1.46 and a beta of 1.11. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11.

Chevron (NYSE:CVX) last released its earnings results on Friday, January 31st. The oil and gas company reported $2.06 EPS 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 quarter last year, the business earned $3.45 EPS. Equities analysts predict that Chevron Co. will post 10.79 earnings per share for the current 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 paid a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 4.37%. The ex-dividend date is Friday, February 14th. This is a positive change from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio is currently 70.37%.

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.