Tyche Wealth Partners LLC Has $5.27 Million Position in Chevron Co. (NYSE:CVX)

Tyche Wealth Partners LLC cut its position in shares of Chevron Co. (NYSE:CVX) by 4.0% during the second quarter, Holdings Channel reports. The institutional investor owned 33,692 shares of the oil and gas company’s stock after selling 1,408 shares during the quarter. Chevron comprises 1.3% of Tyche Wealth Partners LLC’s holdings, making the stock its 17th biggest position. Tyche Wealth Partners LLC’s holdings in Chevron were worth $5,270,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. American Capital Advisory LLC raised its stake in shares of Chevron by 403.2% in the 1st quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock valued at $25,000 after buying an additional 125 shares in the last quarter. Bare Financial Services Inc acquired a new stake in shares of Chevron during the 4th quarter valued at about $27,000. Frank Rimerman Advisors LLC acquired a new position in Chevron in the fourth quarter worth about $30,000. Cooksen Wealth LLC acquired a new position in Chevron in the fourth quarter worth about $40,000. Finally, Clear Investment Research LLC lifted its stake in Chevron by 264.9% during the fourth quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock worth $42,000 after purchasing an additional 204 shares during the period. 72.42% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on CVX shares. TD Cowen increased their target price on Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a report on Monday, April 29th. Truist Financial cut their price objective on Chevron from $156.00 to $154.00 and set a “hold” rating for the company in a report on Monday, August 5th. Wells Fargo & Company upped their target price on shares of Chevron from $198.00 to $206.00 and gave the stock an “overweight” rating in a report on Tuesday, April 30th. Mizuho increased their target price on shares of Chevron from $200.00 to $205.00 and gave the stock a “buy” rating in a research report on Monday, May 13th. Finally, Wolfe Research began coverage on shares of Chevron in a research report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, Chevron currently has an average rating of “Moderate Buy” and a consensus target price of $183.82.

Chevron Trading Up 0.3 %

CVX traded up $0.47 during mid-day trading on Friday, reaching $147.27. The stock had a trading volume of 6,874,416 shares, compared to its average volume of 7,867,067. The stock has a market capitalization of $271.41 billion, a P/E ratio of 13.55, a P/E/G ratio of 2.42 and a beta of 1.10. Chevron Co. has a 52 week low of $139.62 and a 52 week high of $171.70. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16. The firm’s fifty day simple moving average is $153.82 and its two-hundred day simple moving average is $155.96.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.38). The firm had revenue of $51.18 billion during the quarter, compared to the consensus estimate of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. Chevron’s revenue was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.08 EPS. On average, equities analysts predict that Chevron Co. will post 11.96 EPS for the current year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 19th will be paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.43%. The ex-dividend date is Monday, August 19th. Chevron’s dividend payout ratio (DPR) is 59.98%.

Insider Activity at Chevron

In other news, VP Jeff B. Gustavson sold 3,750 shares of the firm’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $160.23, for a total value of $600,862.50. Following the transaction, the vice president now directly owns 477 shares in the company, valued at approximately $76,429.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.20% of the stock is currently owned by company insiders.

About Chevron

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.