Transcend Capital Advisors LLC Reduces Position in Chevron Corporation (NYSE:CVX)

Transcend Capital Advisors LLC lessened its holdings in shares of Chevron Corporation (NYSE:CVX - Free Report) by 12.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,530 shares of the oil and gas company's stock after selling 4,007 shares during the period. Transcend Capital Advisors LLC's holdings in Chevron were worth $4,606,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Eagle Capital Management LLC grew its stake in shares of Chevron by 0.7% in the 4th quarter. Eagle Capital Management LLC now owns 34,600 shares of the oil and gas company's stock valued at $5,011,000 after buying an additional 242 shares during the period. Bank Pictet & Cie Europe AG boosted its position in shares of Chevron by 7.9% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 35,985 shares of the oil and gas company's stock worth $5,212,000 after purchasing an additional 2,641 shares during the period. NewEdge Wealth LLC boosted its position in shares of Chevron by 2.1% during the 4th quarter. NewEdge Wealth LLC now owns 57,277 shares of the oil and gas company's stock worth $8,296,000 after purchasing an additional 1,153 shares during the period. Proficio Capital Partners LLC boosted its position in shares of Chevron by 22,996.9% during the 4th quarter. Proficio Capital Partners LLC now owns 847,425 shares of the oil and gas company's stock worth $122,741,000 after purchasing an additional 843,756 shares during the period. Finally, CORDA Investment Management LLC. boosted its position in shares of Chevron by 24.0% during the 4th quarter. CORDA Investment Management LLC. now owns 13,806 shares of the oil and gas company's stock worth $2,000,000 after purchasing an additional 2,670 shares during the period. Hedge funds and other institutional investors own 72.42% of the company's stock.

Chevron Price Performance

Shares of CVX opened at $143.87 on Friday. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96. The firm's fifty day simple moving average is $140.20 and its 200-day simple moving average is $148.27. The firm has a market capitalization of $251.26 billion, a price-to-earnings ratio of 16.44, a PEG ratio of 2.54 and a beta of 0.83. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.17.

Chevron (NYSE:CVX - Get Free Report) last announced its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, beating analysts' consensus estimates of $2.15 by $0.03. Chevron had a net margin of 7.76% and a return on equity of 10.73%. The business had revenue of $47.61 billion for the quarter, compared to analyst estimates of $49.05 billion. During the same period last year, the business earned $2.93 EPS. The company's revenue was down 2.3% on a year-over-year basis. Equities analysts forecast that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were issued a $1.71 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.75%. Chevron's payout ratio is 78.17%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on CVX shares. Scotiabank cut shares of Chevron from a "sector outperform" rating to a "sector perform" rating and lowered their price objective for the stock from $160.00 to $143.00 in a research report on Friday, April 11th. TD Cowen lowered their price objective on shares of Chevron from $155.00 to $150.00 and set a "hold" rating for the company in a research report on Monday, May 5th. Mizuho lowered their price objective on shares of Chevron from $188.00 to $186.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. Wells Fargo & Company reaffirmed an "overweight" rating and set a $165.00 price objective (up previously from $164.00) on shares of Chevron in a research report on Thursday. Finally, Barclays cut shares of Chevron from an "overweight" rating to an "equal weight" rating and lowered their price objective for the stock from $171.00 to $152.00 in a research report on Wednesday, April 23rd. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $160.29.

About Chevron

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.

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