TCI Wealth Advisors Inc. Has $4.74 Million Position in Chevron Co. (NYSE:CVX)

TCI Wealth Advisors Inc. increased its holdings in shares of Chevron Co. (NYSE:CVX) by 9.4% during the 4th quarter, Holdings Channel.com reports. The fund owned 31,794 shares of the oil and gas company’s stock after acquiring an additional 2,736 shares during the period. Chevron accounts for about 0.5% of TCI Wealth Advisors Inc.’s portfolio, making the stock its 28th largest position. TCI Wealth Advisors Inc.’s holdings in Chevron were worth $4,742,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Picton Mahoney Asset Management acquired a new position in Chevron in the third quarter valued at about $26,000. Bare Financial Services Inc acquired a new position in Chevron in the fourth quarter valued at about $27,000. Valley Forge Investment Consultants Inc. ADV boosted its position in Chevron by 80.0% in the third quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock valued at $30,000 after buying an additional 80 shares in the last quarter. Valued Wealth Advisors LLC acquired a new position in Chevron in the fourth quarter valued at about $33,000. Finally, Legacy Financial Group LLC acquired a new position in Chevron in the third quarter valued at about $43,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, VP Alana K. Knowles sold 2,800 shares of the company’s stock in a transaction that occurred 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 owns 276 shares in the company, valued at $45,540. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CVX. Barclays began coverage on shares of Chevron in a research note on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 target price for the company. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Chevron in a research note on Monday, April 1st. Mizuho boosted their target price on shares of Chevron from $195.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. Wells Fargo & Company boosted their target price on shares of Chevron from $198.00 to $206.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 30th. Finally, TD Cowen boosted their target price on shares of Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a research note on Monday, April 29th. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, Chevron presently has a consensus rating of “Moderate Buy” and a consensus target price of $185.35.

Chevron Trading Down 0.3 %

NYSE:CVX traded down $0.48 during trading hours on Friday, hitting $160.25. The stock had a trading volume of 11,664,505 shares, compared to its average volume of 7,516,580. Chevron Co. has a one year low of $139.62 and a one year high of $171.70. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.27. The company has a market cap of $297.63 billion, a price-to-earnings ratio of 14.74, a P/E/G ratio of 2.37 and a beta of 1.11. The business’s 50 day moving average is $157.26 and its 200-day moving average is $151.53.

Chevron (NYSE:CVX) last issued its earnings results 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 net margin of 10.21% and a return on equity of 14.38%. The firm had revenue of $48.72 billion during the quarter, compared to the consensus estimate of $48.42 billion. During the same quarter in the prior year, the firm earned $3.55 earnings per share. The business’s quarterly revenue was down 4.1% on a year-over-year basis. Sell-side 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. Stockholders of record on Friday, May 17th will be issued a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 4.07%. The ex-dividend date is Thursday, May 16th. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

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.