Transcendent Capital Group LLC Grows Stock Holdings in Chevron Co. (NYSE:CVX)

Transcendent Capital Group LLC grew its holdings in Chevron Co. (NYSE:CVX) by 20.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 806 shares of the oil and gas company’s stock after buying an additional 139 shares during the period. Transcendent Capital Group LLC’s holdings in Chevron were worth $117,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in CVX. Pettinga Financial Advisors LLC lifted its position in Chevron by 10.1% in the third quarter. Pettinga Financial Advisors LLC now owns 2,972 shares of the oil and gas company’s stock worth $438,000 after buying an additional 272 shares during the last quarter. Modera Wealth Management LLC lifted its holdings in shares of Chevron by 5.5% in the 3rd quarter. Modera Wealth Management LLC now owns 30,629 shares of the oil and gas company’s stock worth $4,511,000 after acquiring an additional 1,600 shares during the last quarter. Mattern Capital Management LLC boosted its stake in shares of Chevron by 14.4% during the 3rd quarter. Mattern Capital Management LLC now owns 5,534 shares of the oil and gas company’s stock worth $815,000 after purchasing an additional 697 shares during the period. Smith Salley Wealth Management grew its holdings in Chevron by 3.1% during the 3rd quarter. Smith Salley Wealth Management now owns 123,190 shares of the oil and gas company’s stock valued at $18,142,000 after purchasing an additional 3,759 shares during the last quarter. Finally, Kavar Capital Partners Group LLC raised its position in Chevron by 5.3% in the 3rd quarter. Kavar Capital Partners Group LLC now owns 20,699 shares of the oil and gas company’s stock worth $3,048,000 after purchasing an additional 1,037 shares during the period. 72.42% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Chevron

In related news, VP Jeff B. Gustavson sold 9,325 shares of the business’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 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 filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on CVX shares. Wells Fargo & Company dropped their target price on Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective on the stock in a research report on Tuesday, November 5th. Piper Sandler reduced their target price on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Truist Financial lowered their target price on shares of Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research note on Tuesday, February 4th. Finally, Citigroup upgraded shares of Chevron from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $145.00 to $185.00 in a report on Tuesday, November 26th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $174.13.

Chevron Trading Up 0.6 %

Shares of NYSE:CVX opened at $157.85 on Tuesday. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $283.68 billion, a PE ratio of 16.24, a P/E/G ratio of 1.46 and a beta of 1.11. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11. The business’s fifty day simple moving average is $152.14 and its 200-day simple moving average is $151.20.

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

Chevron Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be issued a $1.71 dividend. This is a positive change from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 4.33%. The ex-dividend date is Friday, February 14th. Chevron’s payout ratio is currently 70.37%.

Chevron 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.