TRUE Private Wealth Advisors lifted its position in shares of Chevron Co. (NYSE:CVX) by 13.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,135 shares of the oil and gas company’s stock after acquiring an additional 1,652 shares during the period. TRUE Private Wealth Advisors’ holdings in Chevron were worth $1,787,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Advisors Preferred LLC acquired a new stake in shares of Chevron during the 1st quarter valued at approximately $110,000. Earnest Partners LLC acquired a new stake in shares of Chevron during the 4th quarter valued at approximately $114,000. Virtue Capital Management LLC acquired a new stake in shares of Chevron during the 4th quarter valued at approximately $128,000. Litman Gregory Asset Management LLC raised its position in shares of Chevron by 566.9% during the 1st quarter. Litman Gregory Asset Management LLC now owns 1,147 shares of the oil and gas company’s stock valued at $131,000 after acquiring an additional 975 shares in the last quarter. Finally, Point72 Asia Hong Kong Ltd raised its position in shares of Chevron by 20,716.7% during the 1st quarter. Point72 Asia Hong Kong Ltd now owns 1,249 shares of the oil and gas company’s stock valued at $142,000 after acquiring an additional 1,243 shares in the last quarter. 65.02% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts have weighed in on the company. Goldman Sachs Group reaffirmed a “buy” rating and issued a $141.00 target price on shares of Chevron in a research report on Tuesday, July 31st. Mizuho assumed coverage on Chevron in a research report on Friday, June 8th. They issued a “buy” rating and a $145.00 target price on the stock. Credit Suisse Group set a $132.00 target price on Chevron and gave the stock a “hold” rating in a research report on Sunday, July 1st. Zacks Investment Research lowered Chevron from a “buy” rating to a “hold” rating in a research report on Monday, July 23rd. Finally, ValuEngine lowered Chevron from a “buy” rating to a “hold” rating in a research report on Thursday, August 2nd. Nine equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Chevron has a consensus rating of “Buy” and an average target price of $138.34.
Shares of CVX opened at $115.23 on Friday. The firm has a market cap of $227.87 billion, a PE ratio of 21.86, a price-to-earnings-growth ratio of 2.10 and a beta of 1.06. The company has a current ratio of 1.08, a quick ratio of 0.87 and a debt-to-equity ratio of 0.20. Chevron Co. has a one year low of $108.02 and a one year high of $133.88.
Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, July 27th. The oil and gas company reported $1.78 EPS for the quarter, missing analysts’ consensus estimates of $2.09 by ($0.31). The business had revenue of $42.24 billion for the quarter, compared to analyst estimates of $46.62 billion. Chevron had a net margin of 7.87% and a return on equity of 6.89%. Chevron’s revenue for the quarter was up 22.5% on a year-over-year basis. During the same period last year, the business posted $0.77 earnings per share. sell-side analysts anticipate that Chevron Co. will post 8.1 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 10th. Stockholders of record on Friday, August 17th will be issued a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.89%. The ex-dividend date of this dividend is Thursday, August 16th. Chevron’s dividend payout ratio (DPR) is 121.08%.
In other news, EVP James William Johnson sold 4,750 shares of the firm’s stock in a transaction on Thursday, June 14th. The stock was sold at an average price of $126.96, for a total transaction of $603,060.00. Following the transaction, the executive vice president now directly owns 4,750 shares of the company’s stock, valued at $603,060. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.38% of the stock is currently owned by company insiders.
Chevron Company Profile
Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production of crude oil and natural gas; processing, liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.
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