Argent Advisors Inc. Buys 8,759 Shares of Chevron Corporation (NYSE:CVX)

Argent Advisors Inc. boosted its stake in Chevron Corporation (NYSE:CVX - Free Report) by 94.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,038 shares of the oil and gas company's stock after purchasing an additional 8,759 shares during the period. Chevron makes up approximately 1.0% of Argent Advisors Inc.'s holdings, making the stock its 22nd largest position. Argent Advisors Inc.'s holdings in Chevron were worth $3,018,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Eagle Capital Management LLC lifted its stake in shares of Chevron by 0.7% during the 4th quarter. Eagle Capital Management LLC now owns 34,600 shares of the oil and gas company's stock valued at $5,011,000 after buying an additional 242 shares in the last quarter. Bank Pictet & Cie Europe AG raised its position in shares of Chevron by 7.9% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 35,985 shares of the oil and gas company's stock valued at $5,212,000 after buying an additional 2,641 shares in the last quarter. WR Wealth Planners LLC grew its holdings in Chevron by 7.2% during the 4th quarter. WR Wealth Planners LLC now owns 1,355 shares of the oil and gas company's stock valued at $196,000 after purchasing an additional 91 shares during the last quarter. Noble Wealth Management PBC bought a new position in Chevron during the 4th quarter valued at about $81,000. Finally, Capital Wealth Planning LLC grew its holdings in Chevron by 6.2% during the 4th quarter. Capital Wealth Planning LLC now owns 2,189,879 shares of the oil and gas company's stock valued at $317,182,000 after purchasing an additional 128,218 shares during the last quarter. Institutional investors own 72.42% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. TD Cowen cut their price target on shares of Chevron from $155.00 to $150.00 and set a "hold" rating on the stock in a report on Monday, May 5th. UBS Group reduced their target price on shares of Chevron from $194.00 to $185.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. Mizuho reduced their target price on shares of Chevron from $188.00 to $186.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 13th. HSBC downgraded shares of Chevron from a "buy" rating to a "hold" rating and dropped their price objective for the company from $176.00 to $158.00 in a research note on Tuesday, May 13th. Finally, Wells Fargo & Company restated an "overweight" rating and issued a $165.00 target price (up from $164.00) on shares of Chevron in a research note on Thursday. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $160.29.

Chevron Stock Performance

Shares of CVX stock opened at $143.87 on Monday. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $168.96. The company has a market cap of $251.26 billion, a P/E ratio of 16.44, a PEG ratio of 2.52 and a beta of 0.83. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.17. The firm has a fifty day moving average price of $140.20 and a 200 day moving average price of $148.17.

Chevron (NYSE:CVX - Get Free Report) last announced its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, beating analysts' consensus estimates of $2.15 by $0.03. Chevron had a net margin of 7.76% and a return on equity of 10.73%. The firm had revenue of $47.61 billion during the quarter, compared to analysts' expectations of $49.05 billion. During the same period in the previous year, the company earned $2.93 earnings per share. Chevron's quarterly revenue was down 2.3% compared to the same quarter last year. Sell-side analysts predict that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were issued a $1.71 dividend. The ex-dividend date was Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.75%. Chevron's payout ratio is 78.17%.

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.

Want to see what other hedge funds are holding CVX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chevron Corporation (NYSE:CVX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.