Transcendent Capital Group LLC Acquires New Shares in Chevron Co. (NYSE:CVX)

Transcendent Capital Group LLC bought a new stake in shares of Chevron Co. (NYSE:CVX) during the 4th quarter, HoldingsChannel reports. The institutional investor bought 407 shares of the oil and gas company’s stock, valued at approximately $61,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Bare Financial Services Inc acquired a new position in Chevron in the 4th quarter valued at $27,000. Frank Rimerman Advisors LLC acquired a new stake in shares of Chevron in the fourth quarter valued at about $30,000. Valued Wealth Advisors LLC bought a new position in shares of Chevron in the fourth quarter worth about $33,000. Clear Investment Research LLC lifted its position in shares of Chevron by 264.9% during the 4th quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock worth $42,000 after purchasing an additional 204 shares during the last quarter. Finally, Gold Investment Management Ltd. bought a new stake in Chevron during the 4th quarter valued at approximately $49,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on CVX shares. Raymond James lifted their price target on Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a research report on Monday, April 15th. Piper Sandler upped their target price on shares of Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a research note on Thursday, April 18th. Truist Financial raised their price target on shares of Chevron from $156.00 to $166.00 and gave the stock a “hold” rating in a research report on Friday, May 10th. Barclays initiated coverage on shares of Chevron in a research report on Wednesday, April 10th. They set an “overweight” rating and a $203.00 price objective for the company. Finally, Mizuho lifted their target price on Chevron from $200.00 to $205.00 and gave the stock a “buy” rating in a research report on Monday, May 13th. Five equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, Chevron currently has an average rating of “Moderate Buy” and an average price target of $186.95.

Insider Buying and Selling at Chevron

In other news, Director Enrique Hernandez, Jr. sold 2,549 shares of the firm’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $161.00, for a total value of $410,389.00. Following the completion of the sale, the director now directly owns 7,647 shares in the company, valued at $1,231,167. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the company’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total transaction of $448,252.00. Following the transaction, the vice president now owns 276 shares of the company’s stock, valued at approximately $44,184.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Enrique Hernandez, Jr. sold 2,549 shares of the stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $161.00, for a total value of $410,389.00. Following the completion of the transaction, the director now owns 7,647 shares in the company, valued at $1,231,167. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,546 shares of company stock worth $3,176,223. 0.20% of the stock is currently owned by insiders.

Chevron Price Performance

Shares of CVX traded down $0.27 during trading hours on Friday, hitting $152.57. The stock had a trading volume of 6,159,138 shares, compared to its average volume of 6,205,760. The stock has a market capitalization of $281.18 billion, a price-to-earnings ratio of 14.04, a P/E/G ratio of 2.27 and a beta of 1.12. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.23 and a quick ratio of 0.93. The company’s fifty day moving average is $159.95 and its two-hundred day moving average is $153.79. Chevron Co. has a 52 week low of $139.62 and a 52 week high of $171.70.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, topping the consensus estimate of $2.84 by $0.09. Chevron had a net margin of 10.21% and a return on equity of 14.40%. The firm had revenue of $48.72 billion for the quarter, compared to analysts’ expectations of $48.42 billion. During the same period in the prior year, the firm earned $3.55 earnings per share. The company’s quarterly revenue was down 4.1% compared to the same quarter last year. On average, analysts anticipate that Chevron Co. will post 13.45 EPS for the current year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 17th were issued a dividend of $1.63 per share. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $6.52 dividend on an annualized basis and a yield of 4.27%. Chevron’s dividend payout ratio is 59.98%.

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.