Transform Wealth LLC Purchases 22,948 Shares of Chevron Co. (NYSE:CVX)

Transform Wealth LLC raised its stake in shares of Chevron Co. (NYSE:CVX - Free Report) by 33.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 92,437 shares of the oil and gas company's stock after purchasing an additional 22,948 shares during the quarter. Transform Wealth LLC's holdings in Chevron were worth $13,389,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. Rational Advisors LLC acquired a new stake in Chevron during the third quarter valued at approximately $29,000. Legacy Investment Solutions LLC acquired a new stake in Chevron in the 3rd quarter valued at $29,000. Darwin Wealth Management LLC bought a new stake in Chevron in the third quarter valued at $30,000. RPg Family Wealth Advisory LLC bought a new position in shares of Chevron during the third quarter valued at $31,000. Finally, Krane Funds Advisors LLC acquired a new stake in shares of Chevron in the 3rd quarter valued at $47,000. Institutional investors own 72.42% of the company's stock.

Chevron Price Performance

Chevron stock opened at $156.39 on Thursday. The firm has a market capitalization of $281.05 billion, a P/E ratio of 17.19, a PEG ratio of 1.39 and a beta of 1.12. The business has a 50-day moving average of $154.05 and a 200-day moving average of $151.11. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, beating the consensus estimate of $2.47 by $0.04. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The business had revenue of $50.67 billion for the quarter, compared to analysts' expectations of $48.86 billion. During the same quarter in the previous year, the business posted $3.05 EPS. Chevron's revenue for the quarter was down 6.3% on a year-over-year basis. On average, equities analysts anticipate that Chevron Co. will post 10.18 EPS for the current year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 18th were paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 4.17%. The ex-dividend date of this dividend was Monday, November 18th. Chevron's payout ratio is presently 71.65%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CVX. Bank of America initiated coverage on shares of Chevron in a report on Thursday, October 17th. They set a "buy" rating and a $168.00 price target for the company. UBS Group increased their price target on Chevron from $194.00 to $195.00 and gave the stock a "buy" rating in a research report on Tuesday, December 3rd. Scotiabank cut their price objective on Chevron from $180.00 to $163.00 and set a "sector outperform" rating for the company in a research report on Thursday, October 10th. Truist Financial raised their target price on Chevron from $160.00 to $164.00 and gave the company a "hold" rating in a research note on Monday, January 13th. Finally, Wells Fargo & Company upped their price target on shares of Chevron from $171.00 to $188.00 and gave the stock an "overweight" rating in a research report on Monday, December 9th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, Chevron has a consensus rating of "Moderate Buy" and a consensus target price of $175.27.

Insider Activity

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the firm's stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total value of $26,357,398.00. Following the completion of the transaction, the chief executive officer now directly owns 4,280 shares in the company, valued at $685,356.40. This trade represents a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate 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.