Argus Investors Counsel Inc. Sells 68 Shares of Chevron Co. (NYSE:CVX)

Argus Investors Counsel Inc. cut its holdings in Chevron Co. (NYSE:CVX) by 0.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,851 shares of the oil and gas company’s stock after selling 68 shares during the quarter. Argus Investors Counsel Inc.’s holdings in Chevron were worth $1,156,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Anfield Capital Management LLC grew its stake in shares of Chevron by 118.0% in the second quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock worth $34,000 after purchasing an additional 118 shares during the last quarter. Cyrus J. Lawrence LLC grew its stake in shares of Chevron by 66.7% in the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 100 shares during the last quarter. Krane Funds Advisors LLC bought a new stake in Chevron during the 3rd quarter valued at approximately $47,000. Livelsberger Financial Advisory bought a new stake in Chevron during the 3rd quarter valued at approximately $47,000. Finally, Dixon Mitchell Investment Counsel Inc. bought a new stake in Chevron during the 1st quarter valued at approximately $55,000. 72.42% of the stock is owned by institutional investors.

Chevron Stock Down 0.1 %

NYSE CVX traded down $0.09 during mid-day trading on Tuesday, reaching $150.79. The stock had a trading volume of 1,305,307 shares, compared to its average volume of 7,662,554. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11. The stock has a market cap of $277.90 billion, a PE ratio of 13.84, a price-to-earnings-growth ratio of 2.73 and a beta of 1.09. The company has a fifty day moving average price of $146.19 and a 200 day moving average price of $153.55. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85.

Chevron (NYSE:CVX) last posted 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 the consensus estimate of $48.68 billion. During the same period last year, the firm posted $3.08 EPS. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, research analysts expect that Chevron Co. will post 10.95 earnings per share for the current year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 4.32%. The ex-dividend date of this dividend was Monday, August 19th. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

Analyst Upgrades and Downgrades

CVX has been the topic of several research reports. Wells Fargo & Company cut their price objective on Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a research report on Friday, September 27th. Barclays cut their price objective on Chevron from $185.00 to $168.00 and set an “overweight” rating on the stock in a research report on Thursday, October 3rd. UBS Group lifted their price objective on Chevron from $189.00 to $192.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Truist Financial lowered their target price on shares of Chevron from $154.00 to $150.00 and set a “hold” rating for the company in a report on Monday, September 30th. Finally, Mizuho lowered their target price on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a report on Monday, September 16th. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $173.07.

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.