Transcend Capital Advisors LLC Decreases Holdings in Chevron Co. (NYSE:CVX)

Transcend Capital Advisors LLC lessened its holdings in Chevron Co. (NYSE:CVX) by 10.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 31,537 shares of the oil and gas company’s stock after selling 3,541 shares during the period. Transcend Capital Advisors LLC’s holdings in Chevron were worth $4,568,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. International Assets Investment Management LLC lifted its holdings in Chevron by 19,404.1% during the third quarter. International Assets Investment Management LLC now owns 4,901,390 shares of the oil and gas company’s stock valued at $7,218,280,000 after purchasing an additional 4,876,260 shares in the last quarter. Pathway Financial Advisers LLC raised its position in shares of Chevron by 15,750.1% during the 3rd quarter. Pathway Financial Advisers LLC now owns 3,901,345 shares of the oil and gas company’s stock valued at $574,551,000 after purchasing an additional 3,876,731 shares during the period. Pacer Advisors Inc. boosted its holdings in Chevron by 949.6% in the 3rd quarter. Pacer Advisors Inc. now owns 3,819,963 shares of the oil and gas company’s stock worth $562,566,000 after buying an additional 3,456,008 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Chevron by 11.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 31,108,760 shares of the oil and gas company’s stock worth $4,581,137,000 after buying an additional 3,203,899 shares in the last quarter. Finally, State Street Corp lifted its position in shares of Chevron by 0.6% in the third quarter. State Street Corp now owns 159,105,244 shares of the oil and gas company’s stock valued at $23,431,429,000 after acquiring an additional 874,962 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Price Performance

CVX stock opened at $158.89 on Friday. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $167.11. The stock has a market cap of $285.53 billion, a PE ratio of 16.35, a P/E/G ratio of 1.44 and a beta of 1.11. The company has a 50-day moving average price of $151.91 and a 200 day moving average price of $150.91.

Chevron (NYSE:CVX) last released its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a return on equity of 11.44% and a net margin of 8.71%. During the same period in the prior year, the company earned $3.45 EPS. Equities research analysts anticipate that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be paid a $1.71 dividend. The ex-dividend date is Friday, February 14th. This represents a $6.84 annualized dividend and a yield of 4.31%. This is a boost from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio is 70.37%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Truist Financial decreased their target price on Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a research note on Tuesday, February 4th. Barclays dropped their target price on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a research report on Wednesday, February 5th. Royal Bank of Canada reiterated an “outperform” rating and issued a $175.00 price target on shares of Chevron in a report on Monday, February 3rd. Piper Sandler dropped their price objective on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Finally, Raymond James reduced their target price on Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a report on Monday, February 3rd. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $174.13.

Insiders Place Their Bets

In other news, VP Jeff B. Gustavson sold 9,325 shares of the firm’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the transaction, the vice president now owns 1,057 shares in the company, 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 filing with the SEC, which is accessible through this link. 0.20% of the stock is currently owned by company insiders.

About Chevron

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.