TRUE Private Wealth Advisors Sells 750 Shares of Chevron Co. (NYSE:CVX)

TRUE Private Wealth Advisors reduced its position in shares of Chevron Co. (NYSE:CVX) by 2.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,064 shares of the oil and gas company’s stock after selling 750 shares during the quarter. Chevron accounts for approximately 0.6% of TRUE Private Wealth Advisors’ investment portfolio, making the stock its 28th biggest holding. TRUE Private Wealth Advisors’ holdings in Chevron were worth $5,641,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CVX. Pacifica Partners Inc. boosted its holdings in shares of Chevron by 1.8% during the first quarter. Pacifica Partners Inc. now owns 3,492 shares of the oil and gas company’s stock worth $546,000 after acquiring an additional 63 shares during the period. Private Wealth Management Group LLC boosted its stake in Chevron by 15.7% in the 1st quarter. Private Wealth Management Group LLC now owns 464 shares of the oil and gas company’s stock valued at $73,000 after purchasing an additional 63 shares during the period. Marks Group Wealth Management Inc grew its holdings in Chevron by 3.1% in the 1st quarter. Marks Group Wealth Management Inc now owns 2,148 shares of the oil and gas company’s stock valued at $339,000 after buying an additional 65 shares in the last quarter. Ellenbecker Investment Group increased its position in Chevron by 1.5% during the 1st quarter. Ellenbecker Investment Group now owns 4,346 shares of the oil and gas company’s stock worth $686,000 after buying an additional 65 shares during the period. Finally, Mayfair Advisory Group LLC lifted its holdings in shares of Chevron by 0.7% during the first quarter. Mayfair Advisory Group LLC now owns 9,407 shares of the oil and gas company’s stock worth $1,484,000 after buying an additional 65 shares in the last quarter. 72.42% of the stock is owned by institutional investors.

Chevron Stock Up 0.5 %

CVX traded up $0.72 during midday trading on Wednesday, reaching $144.87. 4,660,081 shares of the company were exchanged, compared to its average volume of 7,888,023. Chevron Co. has a one year low of $139.62 and a one year 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 company’s fifty day moving average price is $154.39 and its 200 day moving average price is $156.08. The company has a market cap of $266.99 billion, a price-to-earnings ratio of 13.21, a price-to-earnings-growth ratio of 2.42 and a beta of 1.10.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). Chevron had a net margin of 9.31% and a return on equity of 13.70%. The company had revenue of $51.18 billion during the quarter, compared to analysts’ expectations of $48.68 billion. During the same period in the previous year, the company posted $3.08 earnings per share. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. As a group, analysts expect that Chevron Co. will post 11.96 EPS for the current year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th will be paid a $1.63 dividend. The ex-dividend date of this dividend is Monday, August 19th. This represents a $6.52 annualized dividend and a yield of 4.50%. Chevron’s dividend payout ratio (DPR) is 59.98%.

Insiders Place Their Bets

In related news, VP Jeff B. Gustavson sold 3,750 shares of the stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $160.23, for a total transaction of $600,862.50. Following the completion of the sale, the vice president now directly owns 477 shares of the company’s stock, valued at $76,429.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Truist Financial decreased their price target on shares of Chevron from $156.00 to $154.00 and set a “hold” rating on the stock in a research note on Monday, August 5th. Piper Sandler lifted their price target on shares of Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a research report on Thursday, April 18th. Royal Bank of Canada cut their price objective on shares of Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a research report on Monday, August 5th. Barclays decreased their price objective on shares of Chevron from $203.00 to $185.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 6th. Finally, HSBC lifted their target price on Chevron from $175.00 to $178.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $183.82.

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.