Transce3nd LLC Sells 793 Shares of Chevron Corporation (NYSE:CVX)

Transce3nd LLC lessened its holdings in Chevron Corporation (NYSE:CVX) by 19.8% during the first quarter, HoldingsChannel.com reports. The fund owned 3,220 shares of the oil and gas company’s stock after selling 793 shares during the period. Transce3nd LLC’s holdings in Chevron were worth $537,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mizuho Securities Co. Ltd. bought a new stake in shares of Chevron during the fourth quarter worth about $29,000. 10Elms LLP bought a new stake in shares of Chevron during the fourth quarter valued at approximately $29,000. IFS Advisors LLC grew its holdings in Chevron by 119.6% during the first quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company’s stock worth $36,000 after buying an additional 116 shares in the last quarter. Navigoe LLC bought a new stake in Chevron during the fourth quarter worth $33,000. Finally, Cloud Capital Management LLC bought a new stake in Chevron during the first quarter worth $39,000. 72.42% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Scotiabank restated a “sector perform” rating and issued a $160.00 price objective (up previously from $143.00) on shares of Chevron in a research note on Friday, July 11th. DZ Bank cut Chevron from a “buy” rating to a “sell” rating and set a $130.00 price objective on the stock. in a report on Tuesday, May 6th. UBS Group lowered their price target on Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a report on Monday, April 7th. Hsbc Global Res cut Chevron from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 13th. Finally, HSBC lowered Chevron from a “buy” rating to a “hold” rating and reduced their price objective for the company from $176.00 to $158.00 in a research report on Tuesday, May 13th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $161.31.

Chevron Stock Performance

NYSE:CVX opened at $151.55 on Friday. The stock has a 50-day simple moving average of $143.81 and a two-hundred day simple moving average of $148.61. Chevron Corporation has a 52-week low of $132.04 and a 52-week high of $168.96. The firm has a market capitalization of $264.66 billion, a PE ratio of 17.32, a P/E/G ratio of 2.45 and a beta of 0.83. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.82 and a current ratio of 1.08.

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

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th were issued a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.51%. The ex-dividend date was Monday, May 19th. Chevron’s dividend payout ratio is 78.17%.

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.