TRUE Private Wealth Advisors Has $5.92 Million Stake in Chevron Co. (NYSE:CVX)

TRUE Private Wealth Advisors raised its holdings in Chevron Co. (NYSE:CVX) by 11.2% during the fourth quarter, Holdings Channel.com reports. The fund owned 39,695 shares of the oil and gas company’s stock after purchasing an additional 4,007 shares during the period. Chevron comprises about 0.7% of TRUE Private Wealth Advisors’ holdings, making the stock its 23rd largest holding. TRUE Private Wealth Advisors’ holdings in Chevron were worth $5,921,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the company. Windsor Advisory Group LLC boosted its holdings in shares of Chevron by 24.0% during the 3rd quarter. Windsor Advisory Group LLC now owns 3,720 shares of the oil and gas company’s stock worth $627,000 after buying an additional 720 shares during the period. Renaissance Investment Group LLC lifted its position in shares of Chevron by 12.7% during the 4th quarter. Renaissance Investment Group LLC now owns 6,187 shares of the oil and gas company’s stock valued at $923,000 after acquiring an additional 697 shares during the period. Altrius Capital Management Inc lifted its position in shares of Chevron by 2.1% during the 3rd quarter. Altrius Capital Management Inc now owns 21,333 shares of the oil and gas company’s stock valued at $3,597,000 after acquiring an additional 434 shares during the period. Camelot Portfolios LLC acquired a new position in Chevron during the fourth quarter worth $254,000. Finally, Strategic Financial Concepts LLC raised its holdings in Chevron by 9.0% during the third quarter. Strategic Financial Concepts LLC now owns 5,775 shares of the oil and gas company’s stock worth $974,000 after buying an additional 476 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Stock Down 0.8 %

CVX stock traded down $1.31 during trading on Wednesday, reaching $156.28. 5,541,895 shares of the company traded hands, compared to its average volume of 7,275,755. Chevron Co. has a 12 month low of $139.62 and a 12 month high of $172.54. The business has a 50 day simple moving average of $155.11 and a 200 day simple moving average of $151.83. The company has a market capitalization of $290.25 billion, a price-to-earnings ratio of 13.76, a price-to-earnings-growth ratio of 2.37 and a beta of 1.12. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.27.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share for the quarter, topping analysts’ consensus estimates of $3.19 by $0.26. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The business had revenue of $47.18 billion for the quarter, compared to analyst estimates of $50.93 billion. During the same quarter in the previous year, the firm earned $4.09 earnings per share. The company’s revenue was down 16.5% on a year-over-year basis. On average, equities research analysts anticipate that Chevron Co. will post 13.28 earnings per share for the current fiscal year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Friday, February 16th were issued a $1.63 dividend. The ex-dividend date of this dividend was Thursday, February 15th. This is an increase from Chevron’s previous quarterly dividend of $1.51. This represents a $6.52 dividend on an annualized basis and a yield of 4.17%. Chevron’s payout ratio is presently 57.39%.

Analysts Set New Price Targets

Several analysts have recently commented on CVX shares. Truist Financial lowered their target price on shares of Chevron from $168.00 to $156.00 and set a “hold” rating for the company in a report on Friday, April 5th. Wells Fargo & Company increased their target price on shares of Chevron from $185.00 to $198.00 and gave the stock an “overweight” rating in a research report on Thursday, April 4th. Jefferies Financial Group upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $184.00 price objective for the company in a research report on Monday, January 8th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Chevron in a research note on Monday, April 1st. Finally, Piper Sandler lowered their target price on shares of Chevron from $188.00 to $180.00 and set an “overweight” rating on the stock in a research note on Thursday, March 14th. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $183.55.

Insider Buying and Selling at Chevron

In other news, VP Alana K. Knowles sold 2,800 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total transaction of $448,252.00. Following the completion of the transaction, the vice president now directly owns 276 shares of the company’s stock, valued at approximately $44,184.84. The sale was disclosed in a filing with the SEC, which is available at this link. 0.18% of the stock is currently owned by corporate 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.