TRUE Private Wealth Advisors Buys 4,007 Shares of Chevron Co. (NYSE:CVX)

TRUE Private Wealth Advisors grew its holdings in Chevron Co. (NYSE:CVX) by 11.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 39,695 shares of the oil and gas company’s stock after purchasing an additional 4,007 shares during the period. Chevron makes up about 0.7% of TRUE Private Wealth Advisors’ holdings, making the stock its 23rd biggest position. TRUE Private Wealth Advisors’ holdings in Chevron were worth $5,921,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Moneta Group Investment Advisors LLC boosted its position in Chevron by 104,997.3% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 24,490,824 shares of the oil and gas company’s stock valued at $4,395,858,000 after buying an additional 24,467,521 shares during the period. Norges Bank purchased a new position in shares of Chevron in the fourth quarter worth approximately $3,058,235,000. Imprint Wealth LLC raised its stake in Chevron by 15,457.0% during the 2nd quarter. Imprint Wealth LLC now owns 5,378,354 shares of the oil and gas company’s stock worth $537,835,000 after acquiring an additional 5,343,782 shares during the period. Morgan Stanley increased its position in Chevron by 12.7% in the fourth quarter. Morgan Stanley now owns 32,906,060 shares of the oil and gas company’s stock worth $5,906,309,000 after purchasing an additional 3,711,923 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its stake in Chevron by 15,548.2% during the fourth quarter. International Assets Investment Management LLC now owns 3,202,411 shares of the oil and gas company’s stock worth $4,776,720,000 after buying an additional 3,181,946 shares during the period. Institutional investors own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on CVX shares. Piper Sandler reduced their target price on shares of Chevron from $188.00 to $180.00 and set an “overweight” rating for the company in a report on Thursday, March 14th. UBS Group lifted their price target on shares of Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a research note on Tuesday, April 9th. TD Cowen lowered Chevron from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $170.00 to $150.00 in a report on Tuesday, January 23rd. Wells Fargo & Company boosted their price objective on shares of Chevron from $185.00 to $198.00 and gave the company an “overweight” rating in a report on Thursday, April 4th. Finally, DZ Bank downgraded Chevron from a “buy” rating to a “hold” rating and set a $160.00 price objective for the company. in a research report on Tuesday, February 6th. Six equities 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 an average rating of “Moderate Buy” and an average target price of $183.55.

Insider Buying and Selling

In related news, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total value of $448,252.00. Following the transaction, the vice president now owns 276 shares in the company, valued at approximately $44,184.84. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.18% of the stock is owned by insiders.

Chevron Price Performance

Shares of CVX stock traded down $1.31 during trading on Wednesday, hitting $156.28. The company had a trading volume of 5,541,895 shares, compared to its average volume of 7,275,755. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.27. The firm has a market capitalization of $290.25 billion, a P/E ratio of 13.76, a price-to-earnings-growth ratio of 2.37 and a beta of 1.12. The stock’s 50-day moving average price is $155.11 and its 200 day moving average price is $151.83. Chevron Co. has a one year low of $139.62 and a one year high of $172.54.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share for the quarter, beating analysts’ consensus estimates of $3.19 by $0.26. The business had revenue of $47.18 billion during the quarter, compared to the consensus estimate of $50.93 billion. Chevron had a return on equity of 15.24% and a net margin of 10.63%. Chevron’s quarterly revenue was down 16.5% on a year-over-year basis. During the same period in the prior year, the business posted $4.09 earnings per share. Equities analysts expect that Chevron Co. will post 13.28 EPS for the current fiscal year.

Chevron Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Investors 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 annualized dividend and a yield of 4.17%. Chevron’s dividend payout ratio (DPR) is 57.39%.

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.