TCI Wealth Advisors Inc. Grows Stock Holdings in Chevron Co. (NYSE:CVX)

TCI Wealth Advisors Inc. increased its stake in shares of Chevron Co. (NYSE:CVX) by 9.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 31,794 shares of the oil and gas company’s stock after buying an additional 2,736 shares during the quarter. Chevron comprises about 0.5% of TCI Wealth Advisors Inc.’s holdings, making the stock its 28th largest position. TCI Wealth Advisors Inc.’s holdings in Chevron were worth $4,742,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CVX. W.H. Cornerstone Investments Inc. lifted its position in Chevron by 96.7% in the fourth quarter. W.H. Cornerstone Investments Inc. now owns 4,383 shares of the oil and gas company’s stock valued at $654,000 after purchasing an additional 2,155 shares during the period. River Global Investors LLP acquired a new stake in Chevron in the fourth quarter valued at about $4,474,000. Connecticut Wealth Management LLC lifted its position in Chevron by 28.8% in the fourth quarter. Connecticut Wealth Management LLC now owns 10,465 shares of the oil and gas company’s stock valued at $1,561,000 after purchasing an additional 2,342 shares during the period. FourThought Financial Partners LLC lifted its position in shares of Chevron by 2.6% during the 4th quarter. FourThought Financial Partners LLC now owns 64,592 shares of the oil and gas company’s stock valued at $9,635,000 after acquiring an additional 1,613 shares during the period. Finally, TCG Advisory Services LLC lifted its position in shares of Chevron by 47.3% during the 4th quarter. TCG Advisory Services LLC now owns 53,252 shares of the oil and gas company’s stock valued at $7,943,000 after acquiring an additional 17,091 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Insider Buying and Selling

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $165.00, for a total value of $462,000.00. Following the transaction, the vice president now owns 276 shares in the company, valued at approximately $45,540. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.20% of the stock is owned by corporate insiders.

Chevron Trading Down 0.3 %

Shares of NYSE CVX traded down $0.48 during trading on Friday, hitting $160.25. 11,664,505 shares of the company traded hands, compared to its average volume of 7,516,580. Chevron Co. has a 1 year low of $139.62 and a 1 year high of $171.70. The company has a 50-day moving average price of $157.26 and a 200-day moving average price of $151.53. The firm has a market capitalization of $297.63 billion, a P/E ratio of 14.74, a P/E/G ratio of 2.37 and a beta of 1.11. The company has a quick ratio of 1.01, a current ratio of 1.27 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.84 by $0.09. Chevron had a net margin of 10.21% and a return on equity of 14.38%. The company had revenue of $48.72 billion during the quarter, compared to analysts’ expectations of $48.42 billion. During the same period in the previous year, the company earned $3.55 EPS. The business’s quarterly revenue was down 4.1% compared to the same quarter last year. On average, equities analysts predict that Chevron Co. will post 13.53 EPS for the current year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 17th will be given a dividend of $1.63 per share. The ex-dividend date is Thursday, May 16th. This represents a $6.52 dividend on an annualized basis and a yield of 4.07%. Chevron’s dividend payout ratio (DPR) is 59.98%.

Analyst Upgrades and Downgrades

CVX has been the subject of a number of research reports. Truist Financial reduced their price target on shares of Chevron from $168.00 to $156.00 and set a “hold” rating for the company in a research report on Friday, April 5th. Mizuho lifted their price target on shares of Chevron from $195.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Barclays began coverage on Chevron in a research report on Wednesday, April 10th. They set an “overweight” rating and a $203.00 price objective for the company. Raymond James lifted their price objective on Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a research report on Monday, April 15th. Finally, UBS Group lifted their price objective on Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a research report on Tuesday, April 9th. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $185.35.

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.