TCW Group Inc. Grows Stock Position in Chevron Co. (NYSE:CVX)

TCW Group Inc. increased its holdings in Chevron Co. (NYSE:CVX) by 132.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 150,138 shares of the oil and gas company’s stock after buying an additional 85,643 shares during the period. TCW Group Inc.’s holdings in Chevron were worth $21,746,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Capital City Trust Co. FL boosted its position in shares of Chevron by 0.6% in the 4th quarter. Capital City Trust Co. FL now owns 31,139 shares of the oil and gas company’s stock worth $4,510,000 after buying an additional 182 shares in the last quarter. Sigma Planning Corp boosted its position in shares of Chevron by 13.0% in the 4th quarter. Sigma Planning Corp now owns 56,810 shares of the oil and gas company’s stock worth $8,228,000 after buying an additional 6,515 shares in the last quarter. Callan Capital LLC boosted its position in shares of Chevron by 4.8% in the 4th quarter. Callan Capital LLC now owns 4,918 shares of the oil and gas company’s stock worth $712,000 after buying an additional 224 shares in the last quarter. Redmond Asset Management LLC boosted its position in shares of Chevron by 8.6% in the 4th quarter. Redmond Asset Management LLC now owns 22,095 shares of the oil and gas company’s stock worth $3,200,000 after buying an additional 1,741 shares in the last quarter. Finally, Winebrenner Capital Management LLC acquired a new position in Chevron in the 4th quarter valued at about $3,648,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Trading Down 1.2 %

NYSE CVX opened at $156.92 on Friday. Chevron Co. has a one year low of $135.37 and a one year high of $167.11. The company’s 50 day moving average price is $151.97 and its 200 day moving average price is $151.05. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The firm has a market capitalization of $282.00 billion, a price-to-earnings ratio of 16.14, a PEG ratio of 1.46 and a beta of 1.11.

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

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be given a $1.71 dividend. This is an increase from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.84 annualized dividend and a yield of 4.36%. Chevron’s dividend payout ratio (DPR) is 70.37%.

Insider Buying and Selling at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the stock in a transaction that occurred 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 completion of the sale, the vice president now owns 1,057 shares of the company’s stock, valued at $161,192.50. This trade represents a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. UBS Group cut their target price on shares of 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 note on Tuesday, February 4th. Royal Bank of Canada reissued an “outperform” rating and issued a $175.00 target price on shares of Chevron in a research note on Monday, February 3rd. Barclays cut their target price on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. Finally, Raymond James cut their target price on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research note on Monday, February 3rd. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $174.13.

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.