TCP Asset Management LLC Has $501,000 Stock Position in Chevron Co. (NYSE:CVX)

TCP Asset Management LLC cut its holdings in shares of Chevron Co. (NYSE:CVX) by 7.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,458 shares of the oil and gas company’s stock after selling 270 shares during the period. TCP Asset Management LLC’s holdings in Chevron were worth $501,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CVX. Tacita Capital Inc grew its position in shares of Chevron by 16.7% in the 3rd quarter. Tacita Capital Inc now owns 454 shares of the oil and gas company’s stock valued at $67,000 after purchasing an additional 65 shares during the period. Wallace Capital Management Inc. lifted its stake in Chevron by 0.8% in the third quarter. Wallace Capital Management Inc. now owns 8,229 shares of the oil and gas company’s stock valued at $1,212,000 after buying an additional 65 shares in the last quarter. Cyndeo Wealth Partners LLC boosted its holdings in shares of Chevron by 0.3% in the third quarter. Cyndeo Wealth Partners LLC now owns 19,769 shares of the oil and gas company’s stock valued at $2,911,000 after buying an additional 67 shares during the period. S.A. Mason LLC increased its position in shares of Chevron by 0.7% during the third quarter. S.A. Mason LLC now owns 9,033 shares of the oil and gas company’s stock worth $1,330,000 after acquiring an additional 67 shares in the last quarter. Finally, Jag Capital Management LLC raised its holdings in shares of Chevron by 5.2% during the third quarter. Jag Capital Management LLC now owns 1,366 shares of the oil and gas company’s stock worth $201,000 after acquiring an additional 67 shares during the period. 72.42% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Michael K. Wirth sold 164,600 shares of the stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the sale, the chief executive officer now directly owns 4,280 shares of the company’s stock, valued at approximately $685,356.40. This represents a 97.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.20% of the stock is owned by company insiders.

Chevron Trading Up 1.4 %

Shares of CVX stock opened at $161.54 on Monday. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11. The firm has a 50 day moving average price of $153.93 and a two-hundred day moving average price of $151.05. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $290.30 billion, a PE ratio of 17.75, a price-to-earnings-growth ratio of 2.62 and a beta of 1.12.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. The firm had revenue of $50.67 billion for the quarter, compared to analyst estimates of $48.86 billion. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The company’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same period in the prior year, the firm posted $3.05 EPS. As a group, analysts predict that Chevron Co. will post 10.39 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th were issued a dividend of $1.63 per share. The ex-dividend date was Monday, November 18th. This represents a $6.52 annualized dividend and a dividend yield of 4.04%. Chevron’s dividend payout ratio is presently 71.65%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on CVX shares. UBS Group increased their target price on Chevron from $194.00 to $195.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Truist Financial boosted their target price on Chevron from $160.00 to $164.00 and gave the company a “hold” rating in a research note on Monday, January 13th. Raymond James lifted their price objective on shares of Chevron from $175.00 to $180.00 and gave the company an “outperform” rating in a report on Friday. Scotiabank lowered their price target on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Finally, Citigroup upgraded shares of Chevron from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $145.00 to $185.00 in a research note on Tuesday, November 26th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, Chevron presently has a consensus rating of “Moderate Buy” and a consensus target price of $175.27.

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.