TCG Advisory Services LLC Boosts Stake in Chevron Co. (NYSE:CVX)

TCG Advisory Services LLC grew its stake in shares of Chevron Co. (NYSE:CVX) by 47.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 53,252 shares of the oil and gas company’s stock after buying an additional 17,091 shares during the period. TCG Advisory Services LLC’s holdings in Chevron were worth $7,943,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of CVX. Forte Capital LLC ADV boosted its stake in shares of Chevron by 1.4% during the fourth quarter. Forte Capital LLC ADV now owns 6,181 shares of the oil and gas company’s stock valued at $922,000 after acquiring an additional 87 shares during the last quarter. Vestmark Advisory Solutions Inc. raised its stake in Chevron by 2.1% in the 4th quarter. Vestmark Advisory Solutions Inc. now owns 38,054 shares of the oil and gas company’s stock valued at $5,676,000 after purchasing an additional 777 shares during the last quarter. Royal Fund Management LLC lifted its holdings in Chevron by 9.7% in the 4th quarter. Royal Fund Management LLC now owns 6,373 shares of the oil and gas company’s stock valued at $950,000 after purchasing an additional 562 shares in the last quarter. AJOVista LLC acquired a new stake in shares of Chevron during the 4th quarter worth about $235,000. Finally, Knuff & Co LLC grew its holdings in shares of Chevron by 2.5% during the fourth quarter. Knuff & Co LLC now owns 12,759 shares of the oil and gas company’s stock worth $1,903,000 after buying an additional 310 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Insiders Place Their Bets

In other news, VP Alana K. Knowles sold 2,800 shares of the company’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 completion of the transaction, the vice president now directly owns 276 shares in the company, valued at $45,540. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.20% of the stock is owned by company insiders.

Chevron Stock Down 0.3 %

Shares of NYSE:CVX traded down $0.48 during midday trading on Friday, hitting $160.25. 11,664,505 shares of the company’s stock traded hands, compared to its average volume of 7,516,580. The firm’s fifty day moving average price is $157.26 and its two-hundred day moving average price is $151.76. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.27. Chevron Co. has a twelve month low of $139.62 and a twelve month high of $171.70. The company has a market cap of $297.63 billion, a PE ratio of 14.74, a P/E/G ratio of 2.37 and a beta of 1.11.

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

Chevron Dividend Announcement

The business 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. This represents a $6.52 annualized dividend and a yield of 4.07%. The ex-dividend date of this dividend is Thursday, May 16th. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on CVX shares. Truist Financial reduced their price objective on shares of Chevron from $168.00 to $156.00 and set a “hold” rating on the stock in a research note on Friday, April 5th. Raymond James raised their price objective on Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a report on Monday, April 15th. TD Cowen upped their target price on Chevron from $155.00 to $160.00 and gave the company a “hold” rating in a research note on Monday, April 29th. Scotiabank upgraded Chevron from a “sector perform” rating to a “sector outperform” rating and increased their target price for the stock from $170.00 to $195.00 in a research report on Thursday, April 11th. Finally, UBS Group lifted their price target on Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a report on Tuesday, April 9th. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, Chevron presently has a consensus rating of “Moderate Buy” and a consensus price target of $185.35.

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.