Sargent Bickham Lagudis LLC Purchases 455 Shares of Chevron Co. (NYSE:CVX)

Posted by on Apr 3rd, 2023

Sargent Bickham Lagudis LLC boosted its position in shares of Chevron Co. (NYSE:CVX – Get Rating) by 5.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,472 shares of the oil and gas company’s stock after purchasing an additional 455 shares during the period. Sargent Bickham Lagudis LLC’s holdings in Chevron were worth $1,521,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Good Life Advisors LLC raised its stake in shares of Chevron by 2.6% in the third quarter. Good Life Advisors LLC now owns 28,054 shares of the oil and gas company’s stock worth $4,031,000 after acquiring an additional 719 shares during the last quarter. M&R Capital Management Inc. raised its stake in shares of Chevron by 9.8% in the fourth quarter. M&R Capital Management Inc. now owns 7,580 shares of the oil and gas company’s stock worth $1,361,000 after acquiring an additional 674 shares during the last quarter. Sage Mountain Advisors LLC raised its stake in shares of Chevron by 77.1% in the second quarter. Sage Mountain Advisors LLC now owns 6,046 shares of the oil and gas company’s stock worth $875,000 after acquiring an additional 2,632 shares during the last quarter. CapWealth Advisors LLC raised its stake in shares of Chevron by 0.6% during the third quarter. CapWealth Advisors LLC now owns 173,721 shares of the oil and gas company’s stock worth $24,959,000 after buying an additional 1,097 shares during the last quarter. Finally, Joel Isaacson & Co. LLC raised its stake in shares of Chevron by 0.8% during the third quarter. Joel Isaacson & Co. LLC now owns 18,710 shares of the oil and gas company’s stock worth $2,688,000 after buying an additional 155 shares during the last quarter. 69.37% of the stock is owned by institutional investors.

Chevron Price Performance

Shares of CVX opened at $163.16 on Monday. The firm has a market capitalization of $311.09 billion, a PE ratio of 8.93, a PEG ratio of 0.79 and a beta of 1.16. The company’s 50-day moving average is $165.22 and its 200-day moving average is $169.51. Chevron Co. has a fifty-two week low of $132.54 and a fifty-two week high of $189.68. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.47 and a quick ratio of 1.23.

Chevron (NYSE:CVX – Get Rating) last issued its quarterly earnings data on Friday, January 27th. The oil and gas company reported $4.09 earnings per share for the quarter, missing the consensus estimate of $4.16 by ($0.07). The company had revenue of $56.47 billion during the quarter, compared to the consensus estimate of $53.97 billion. Chevron had a net margin of 14.40% and a return on equity of 23.52%. Chevron’s revenue for the quarter was up 17.1% compared to the same quarter last year. During the same period in the previous year, the company earned $2.56 earnings per share. Equities analysts forecast that Chevron Co. will post 14.56 EPS for the current year.

Chevron declared that its board has approved a stock buyback plan on Wednesday, January 25th that allows the company to repurchase $75.00 billion in outstanding shares. This repurchase authorization allows the oil and gas company to repurchase up to 21.7% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 10th. Stockholders of record on Thursday, February 16th were given a $1.51 dividend. The ex-dividend date of this dividend was Wednesday, February 15th. This is a positive change from Chevron’s previous quarterly dividend of $1.42. This represents a $6.04 annualized dividend and a dividend yield of 3.70%. Chevron’s dividend payout ratio is presently 33.04%.

Insider Activity

In related news, VP Rhonda J. Morris sold 19,666 shares of the company’s stock in a transaction dated Tuesday, February 7th. The shares were sold at an average price of $170.00, for a total value of $3,343,220.00. Following the transaction, the vice president now directly owns 3,967 shares in the company, valued at $674,390. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. BNP Paribas downgraded shares of Chevron from a “neutral” rating to an “underperform” rating and set a $190.00 price target for the company. in a research note on Wednesday, December 14th. Morgan Stanley dropped their price target on shares of Chevron from $195.00 to $192.00 and set an “equal weight” rating for the company in a research note on Monday, March 27th. Wells Fargo & Company decreased their price objective on shares of Chevron from $204.00 to $199.00 and set an “overweight” rating for the company in a report on Thursday, March 2nd. Barclays boosted their price objective on shares of Chevron from $196.00 to $212.00 and gave the company an “overweight” rating in a report on Tuesday, January 3rd. Finally, Bank of America cut shares of Chevron from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $190.00 to $191.00 in a report on Friday, January 6th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, Chevron currently has an average rating of “Hold” and an average target price of $189.33.

Chevron Profile

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Chevron Corp. engages in the provision of administrative, financial management, and technology support for energy and chemical operations. It operates through the Upstream and Downstream segments. The Upstream segment consists of the exploration, development, and production of crude oil and natural gas, the liquefaction, transportation, and regasification associated with liquefied natural gas, the transporting of crude oil by major international oil export pipelines, the processing, transporting, storage, and marketing of natural gas, and a gas-to-liquids plant.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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