Transatlantique Private Wealth LLC Cuts Stock Position in Chevron Co. (NYSE:CVX)

Transatlantique Private Wealth LLC reduced its position in Chevron Co. (NYSE:CVX) by 20.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,433 shares of the oil and gas company’s stock after selling 360 shares during the quarter. Transatlantique Private Wealth LLC’s holdings in Chevron were worth $208,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. McIlrath & Eck LLC boosted its stake in Chevron by 5.8% in the third quarter. McIlrath & Eck LLC now owns 1,434 shares of the oil and gas company’s stock valued at $211,000 after acquiring an additional 78 shares in the last quarter. Westside Investment Management Inc. grew its stake in shares of Chevron by 9.0% during the 3rd quarter. Westside Investment Management Inc. now owns 3,405 shares of the oil and gas company’s stock worth $503,000 after purchasing an additional 281 shares during the period. Diamant Asset Management Inc. lifted its position in shares of Chevron by 6.2% during the 3rd quarter. Diamant Asset Management Inc. now owns 5,510 shares of the oil and gas company’s stock valued at $811,000 after acquiring an additional 320 shares during the period. Wealthquest Corp boosted its position in Chevron by 2.3% during the third quarter. Wealthquest Corp now owns 5,222 shares of the oil and gas company’s stock worth $782,000 after purchasing an additional 118 shares in the last quarter. Finally, Te Ahumairangi Investment Management Ltd increased its holdings in Chevron by 4.5% during the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 22,219 shares of the oil and gas company’s stock valued at $3,254,000 after acquiring an additional 950 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Activity at Chevron

In related news, VP Jeff B. Gustavson sold 9,325 shares of Chevron stock in a transaction that occurred 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 completion of the sale, the vice president now directly owns 1,057 shares of the company’s stock, valued at approximately $161,192.50. This trade represents a 89.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.20% of the stock is owned by company insiders.

Chevron Price Performance

Shares of NYSE CVX opened at $137.68 on Monday. The firm has a market cap of $242.39 billion, a PE ratio of 14.16, a PEG ratio of 1.46 and a beta of 0.93. The company has a fifty day moving average price of $153.54 and a 200 day moving average price of $153.45. 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 1-year low of $132.04 and a 1-year high of $168.96.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing analysts’ consensus estimates 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 firm posted $3.45 EPS. Research analysts predict that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were issued a dividend of $1.71 per share. This is an increase from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend was Friday, February 14th. This represents a $6.84 annualized dividend and a dividend yield of 4.97%. Chevron’s payout ratio is presently 70.37%.

Wall Street Analysts Forecast Growth

CVX has been the subject of several recent analyst reports. Barclays lowered their target price on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. Truist Financial cut their price objective on Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a research report on Tuesday, February 4th. Scotiabank lowered shares of Chevron from a “sector outperform” rating to a “sector perform” rating and lowered their price target for the company from $160.00 to $143.00 in a report on Friday, April 11th. Raymond James reduced their target price on Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research note on Monday, February 3rd. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $175.00 price objective on shares of Chevron in a report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, five have given a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $169.50.

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.