TBH Global Asset Management LLC Has $1.43 Million Stock Holdings in Chevron Co. (NYSE:CVX)

TBH Global Asset Management LLC trimmed its position in Chevron Co. (NYSE:CVX) by 24.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,578 shares of the oil and gas company’s stock after selling 3,112 shares during the quarter. TBH Global Asset Management LLC’s holdings in Chevron were worth $1,429,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Team Hewins LLC acquired a new stake in shares of Chevron during the 4th quarter worth $1,213,000. Weil Company Inc. grew its holdings in shares of Chevron by 4.9% during the 4th quarter. Weil Company Inc. now owns 2,162 shares of the oil and gas company’s stock worth $322,000 after purchasing an additional 101 shares in the last quarter. Cypress Asset Management Inc. TX acquired a new stake in shares of Chevron during the 4th quarter worth $1,985,000. Avantax Planning Partners Inc. grew its holdings in shares of Chevron by 8.6% during the 4th quarter. Avantax Planning Partners Inc. now owns 38,478 shares of the oil and gas company’s stock worth $5,739,000 after purchasing an additional 3,052 shares in the last quarter. Finally, TCW Group Inc. grew its holdings in shares of Chevron by 82.3% during the 4th quarter. TCW Group Inc. now owns 89,429 shares of the oil and gas company’s stock worth $13,356,000 after purchasing an additional 40,367 shares in the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently weighed in on CVX. Raymond James raised their price objective on Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a research note on Monday, April 15th. Piper Sandler raised their price objective on Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a research note on Thursday, April 18th. Mizuho increased their target price on Chevron from $200.00 to $205.00 and gave the company a “buy” rating in a research report on Monday, May 13th. TD Cowen increased their target price on Chevron from $155.00 to $160.00 and gave the company a “hold” rating in a research report on Monday, April 29th. Finally, Royal Bank of Canada increased their target price on Chevron from $185.00 to $190.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. 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 MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $186.10.

Chevron Trading Up 0.5 %

CVX stock traded up $0.81 during mid-day trading on Friday, reaching $157.75. The company’s stock had a trading volume of 4,393,658 shares, compared to its average volume of 8,133,298. The company has a market cap of $290.73 billion, a price-to-earnings ratio of 14.57, a price-to-earnings-growth ratio of 2.32 and a beta of 1.11. The business’s 50 day moving average price is $160.17 and its 200 day moving average price is $152.41. The company has a current ratio of 1.23, a quick ratio of 0.93 and a debt-to-equity ratio of 0.13. Chevron Co. has a 12 month low of $139.62 and a 12 month high of $171.70.

Chevron (NYSE:CVX) last issued its earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, topping analysts’ consensus estimates of $2.84 by $0.09. The business had revenue of $48.72 billion during the quarter, compared to the consensus estimate of $48.42 billion. Chevron had a return on equity of 14.40% and a net margin of 10.21%. The firm’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same period in the previous year, the company posted $3.55 earnings per share. On average, equities research analysts predict that Chevron Co. will post 13.57 EPS for the current year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 17th will be issued a $1.63 dividend. The ex-dividend date is Thursday, May 16th. This represents a $6.52 dividend on an annualized basis and a yield of 4.13%. Chevron’s payout ratio is currently 59.98%.

Insider Buying and Selling at Chevron

In other Chevron news, Director Enrique Hernandez, Jr. sold 2,549 shares of the firm’s stock in a transaction that occurred 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 owns 7,647 shares of the company’s stock, valued at $1,231,167. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $165.00, for a total transaction of $462,000.00. Following the transaction, the vice president now owns 276 shares of the company’s stock, valued at $45,540. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Enrique Hernandez, Jr. sold 2,549 shares of Chevron stock in a transaction that occurred 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 transaction, the director now directly owns 7,647 shares in the company, valued at approximately $1,231,167. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,546 shares of company stock valued at $3,176,223. Company insiders own 0.20% of the company’s stock.

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.