Argus Investors Counsel Inc. Sells 257 Shares of Chevron Co. (NYSE:CVX)

Argus Investors Counsel Inc. cut its holdings in Chevron Co. (NYSE:CVX) by 3.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,786 shares of the oil and gas company’s stock after selling 257 shares during the period. Chevron comprises approximately 1.5% of Argus Investors Counsel Inc.’s portfolio, making the stock its 28th biggest holding. Argus Investors Counsel Inc.’s holdings in Chevron were worth $1,218,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of CVX. American Capital Advisory LLC raised its holdings in shares of Chevron by 403.2% in the 1st quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 125 shares during the period. Bare Financial Services Inc bought a new stake in shares of Chevron in the fourth quarter valued at $27,000. Frank Rimerman Advisors LLC bought a new position in shares of Chevron during the 4th quarter worth $30,000. Cooksen Wealth LLC purchased a new stake in Chevron in the 4th quarter worth about $40,000. Finally, Clear Investment Research LLC lifted its holdings in Chevron by 264.9% during the fourth quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock valued at $42,000 after purchasing an additional 204 shares during the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Stock Down 0.3 %

NYSE:CVX traded down $0.47 on Monday, reaching $146.80. 2,109,498 shares of the stock traded hands, compared to its average volume of 7,846,364. Chevron Co. has a 12 month low of $139.62 and a 12 month high of $171.70. The company has a market capitalization of $270.55 billion, a price-to-earnings ratio of 13.59, a PEG ratio of 2.42 and a beta of 1.10. The company’s fifty day simple moving average is $153.82 and its 200 day simple moving average is $156.02. 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 (NYSE:CVX) last posted its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.38). Chevron had a net margin of 9.31% and a return on equity of 13.70%. The company had revenue of $51.18 billion for the quarter, compared to the consensus estimate of $48.68 billion. During the same quarter in the prior year, the company posted $3.08 EPS. Chevron’s revenue was up 4.7% on a year-over-year basis. Equities analysts predict that Chevron Co. will post 11.96 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th will be paid a dividend of $1.63 per share. The ex-dividend date of this dividend is Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.44%. Chevron’s dividend payout ratio is currently 59.98%.

Insider Buying and Selling

In other news, VP Jeff B. Gustavson sold 3,750 shares of the company’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $160.23, for a total value of $600,862.50. Following the completion of the sale, the vice president now directly owns 477 shares in the company, valued at approximately $76,429.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

CVX has been the topic of several recent research reports. Royal Bank of Canada dropped their target price on Chevron from $190.00 to $180.00 and set an “outperform” rating on the stock in a research report on Monday, August 5th. TD Cowen raised their target price on Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a research note on Monday, April 29th. HSBC upped their price target on Chevron from $175.00 to $178.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Wolfe Research started coverage on shares of Chevron in a research note on Thursday, July 18th. They set a “peer perform” rating for the company. Finally, Wells Fargo & Company increased their target price on shares of Chevron from $198.00 to $206.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 30th. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $183.82.

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.