TBH Global Asset Management LLC Decreases Stock Holdings in Chevron Co. (NYSE:CVX)

TBH Global Asset Management LLC lessened its stake in shares of Chevron Co. (NYSE:CVX) by 13.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,150 shares of the oil and gas company’s stock after selling 1,304 shares during the quarter. TBH Global Asset Management LLC’s holdings in Chevron were worth $1,180,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Life Planning Partners Inc purchased a new stake in Chevron in the fourth quarter worth approximately $25,000. Rational Advisors LLC purchased a new position in shares of Chevron in the 3rd quarter worth $29,000. Legacy Investment Solutions LLC bought a new stake in shares of Chevron in the third quarter worth $29,000. Darwin Wealth Management LLC purchased a new stake in Chevron during the third quarter valued at $30,000. Finally, RPg Family Wealth Advisory LLC bought a new position in Chevron in the third quarter valued at about $31,000. 72.42% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on CVX shares. UBS Group cut their price target on Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a research note on Monday, February 3rd. Truist Financial cut their target price on shares of Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research report on Tuesday, February 4th. Piper Sandler decreased their price target on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Raymond James cut their price objective on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research report on Monday, February 3rd. Finally, Barclays decreased their target price on Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, Chevron currently has a consensus rating of “Moderate Buy” and an average target price of $174.13.

Insider Activity

In related news, VP Jeff B. Gustavson sold 9,325 shares of the business’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $152.50, for a total value of $1,422,062.50. Following the sale, the vice president now owns 1,057 shares in the company, valued at approximately $161,192.50. The trade was a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.20% of the company’s stock.

Chevron Stock Up 0.6 %

NYSE CVX opened at $157.14 on Thursday. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $167.11. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The stock has a market cap of $282.39 billion, a PE ratio of 16.17, a P/E/G ratio of 1.43 and a beta of 1.11. The stock’s 50 day moving average is $151.82 and its 200 day moving average is $150.85.

Chevron (NYSE:CVX) last released its earnings results on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a return on equity of 11.44% and a net margin of 8.71%. During the same quarter in the previous year, the company posted $3.45 earnings per share. Research analysts predict that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be issued a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 4.35%. The ex-dividend date of this dividend is Friday, February 14th. This is an increase from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio is 70.37%.

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.