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

Transcend Capital Advisors LLC lowered its position in Chevron Co. (NYSE:CVX) by 10.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,537 shares of the oil and gas company’s stock after selling 3,541 shares during the quarter. Transcend Capital Advisors LLC’s holdings in Chevron were worth $4,568,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of CVX. Allspring Global Investments Holdings LLC grew its stake in shares of Chevron by 14.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 223,561 shares of the oil and gas company’s stock valued at $32,924,000 after buying an additional 27,483 shares during the last quarter. Plan Group Financial LLC grew its position in Chevron by 25.8% during the 3rd quarter. Plan Group Financial LLC now owns 8,530 shares of the oil and gas company’s stock worth $1,256,000 after acquiring an additional 1,747 shares during the last quarter. Meadow Creek Wealth Advisors LLC increased its stake in Chevron by 8.1% in the 3rd quarter. Meadow Creek Wealth Advisors LLC now owns 5,632 shares of the oil and gas company’s stock worth $829,000 after purchasing an additional 424 shares during the period. Commerzbank Aktiengesellschaft FI lifted its position in Chevron by 27.5% in the third quarter. Commerzbank Aktiengesellschaft FI now owns 107,341 shares of the oil and gas company’s stock valued at $15,808,000 after purchasing an additional 23,136 shares during the last quarter. Finally, Greenleaf Trust grew its holdings in shares of Chevron by 3.1% in the third quarter. Greenleaf Trust now owns 60,285 shares of the oil and gas company’s stock worth $8,878,000 after purchasing an additional 1,830 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CVX has been the subject of a number of recent analyst reports. DZ Bank upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target for the company in a report on Tuesday, November 5th. Royal Bank of Canada reiterated an “outperform” rating and set a $175.00 target price on shares of Chevron in a report on Monday, February 3rd. Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and boosted their price target for the company from $145.00 to $185.00 in a report on Tuesday, November 26th. Piper Sandler dropped their price objective on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Finally, Barclays cut their price objective on Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, Chevron currently has a consensus rating of “Moderate Buy” and an average price target of $174.13.

Insider Buying and Selling

In related news, VP Jeff B. Gustavson sold 9,325 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $152.50, for a total value of $1,422,062.50. Following the completion of the transaction, the vice president now directly owns 1,057 shares in the company, valued at $161,192.50. The trade was a 89.82 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.20% of the stock is currently owned by company insiders.

Chevron Trading Up 1.1 %

NYSE:CVX opened at $158.89 on Friday. The firm has a market capitalization of $285.53 billion, a P/E ratio of 16.35, a PEG ratio of 1.44 and a beta of 1.11. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. Chevron Co. has a one year low of $135.37 and a one year high of $167.11. The company’s 50-day simple moving average is $151.91 and its 200 day simple moving average is $150.91.

Chevron (NYSE:CVX) last posted its quarterly 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 previous year, the company posted $3.45 earnings per share. As a group, analysts forecast that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

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

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.