TCI Wealth Advisors Inc. Has $4.88 Million Position in Chevron Corporation (CVX)

TCI Wealth Advisors Inc. lessened its holdings in Chevron Corporation (NYSE:CVX) by 2.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 41,502 shares of the oil and gas company’s stock after selling 1,056 shares during the period. Chevron makes up about 2.4% of TCI Wealth Advisors Inc.’s investment portfolio, making the stock its 6th largest position. TCI Wealth Advisors Inc.’s holdings in Chevron were worth $4,876,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in CVX. Davis R M Inc. increased its position in Chevron by 3.6% during the third quarter. Davis R M Inc. now owns 35,775 shares of the oil and gas company’s stock valued at $4,204,000 after acquiring an additional 1,256 shares during the last quarter. TIAA FSB increased its position in Chevron by 0.6% during the third quarter. TIAA FSB now owns 168,488 shares of the oil and gas company’s stock valued at $19,797,000 after acquiring an additional 1,047 shares during the last quarter. Raymond James Trust N.A. increased its position in Chevron by 2.9% during the third quarter. Raymond James Trust N.A. now owns 151,167 shares of the oil and gas company’s stock valued at $17,762,000 after acquiring an additional 4,262 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its position in Chevron by 9.6% during the third quarter. Benjamin F. Edwards & Company Inc. now owns 27,916 shares of the oil and gas company’s stock valued at $3,280,000 after acquiring an additional 2,448 shares during the last quarter. Finally, Mizuho Securities USA LLC bought a new position in Chevron during the third quarter valued at $1,799,000. Institutional investors own 63.80% of the company’s stock.

A number of research analysts have weighed in on CVX shares. Jefferies Group reiterated a “buy” rating and set a $137.00 price objective (up previously from $113.54) on shares of Chevron in a research report on Monday, October 30th. Zacks Investment Research upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $131.00 price objective on the stock in a research report on Friday, November 10th. Citigroup boosted their price objective on shares of Chevron from $118.00 to $128.00 and gave the company a “buy” rating in a research report on Monday, October 30th. Goldman Sachs Group reiterated a “buy” rating and set a $123.00 price objective (up previously from $118.00) on shares of Chevron in a research report on Tuesday, September 19th. Finally, Wolfe Research upgraded shares of Chevron from a “market perform” rating to an “outperform” rating in a research report on Monday, October 16th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $125.15.

In other Chevron news, Vice Chairman Michael K. Wirth sold 1,229 shares of the stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $118.00, for a total transaction of $145,022.00. Following the completion of the sale, the insider now directly owns 1,229 shares of the company’s stock, valued at $145,022. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP R. Hewitt Pate sold 25,500 shares of the stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $120.00, for a total transaction of $3,060,000.00. Following the sale, the vice president now directly owns 25,500 shares of the company’s stock, valued at $3,060,000. The disclosure for this sale can be found here. Over the last three months, insiders have sold 314,000 shares of company stock valued at $36,540,822. Insiders own 0.38% of the company’s stock.

Shares of Chevron Corporation (CVX) opened at $125.55 on Thursday. Chevron Corporation has a one year low of $102.55 and a one year high of $126.20. The firm has a market cap of $239,280.00, a PE ratio of 36.60, a P/E/G ratio of 4.12 and a beta of 1.21. The company has a quick ratio of 0.84, a current ratio of 1.04 and a debt-to-equity ratio of 0.23.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, October 27th. The oil and gas company reported $1.03 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.99 by $0.04. Chevron had a net margin of 4.79% and a return on equity of 4.59%. The company had revenue of $36.21 billion during the quarter, compared to analyst estimates of $34.06 billion. During the same period in the prior year, the firm earned $0.68 earnings per share. The firm’s revenue for the quarter was up 20.1% compared to the same quarter last year. analysts anticipate that Chevron Corporation will post 4.33 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, December 11th. Shareholders of record on Friday, November 17th were given a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a dividend yield of 3.44%. The ex-dividend date of this dividend was Thursday, November 16th. Chevron’s payout ratio is 125.95%.

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Chevron Profile

Chevron Corporation (Chevron) manages its investments in subsidiaries and affiliates, and provides administrative, financial, management and technology support to the United States and international subsidiaries that engage in integrated energy and chemicals operations. The Company operates through two business segments: Upstream and Downstream.

Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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