True North Advisors LLC Buys 2,892 Shares of Chevron Corporation $CVX

True North Advisors LLC lifted its stake in shares of Chevron Corporation (NYSE:CVX) by 26.8% during the first quarter, Holdings Channel.com reports. The firm owned 13,701 shares of the oil and gas company’s stock after buying an additional 2,892 shares during the period. True North Advisors LLC’s holdings in Chevron were worth $2,835,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of CVX. Vision Retirement LLC raised its position in Chevron by 9.4% in the 1st quarter. Vision Retirement LLC now owns 1,668 shares of the oil and gas company’s stock worth $345,000 after purchasing an additional 144 shares during the last quarter. World Equity Group Inc. raised its position in shares of Chevron by 88.1% during the first quarter. World Equity Group Inc. now owns 20,536 shares of the oil and gas company’s stock worth $4,249,000 after acquiring an additional 9,618 shares during the last quarter. AIA Group Ltd lifted its stake in shares of Chevron by 16.0% during the first quarter. AIA Group Ltd now owns 134,586 shares of the oil and gas company’s stock valued at $27,846,000 after acquiring an additional 18,589 shares during the period. Legacy Wealth Advisors LLC lifted its stake in shares of Chevron by 29.1% during the first quarter. Legacy Wealth Advisors LLC now owns 1,998 shares of the oil and gas company’s stock valued at $413,000 after acquiring an additional 450 shares during the period. Finally, Mediolanum International Funds Ltd boosted its holdings in Chevron by 11.5% in the first quarter. Mediolanum International Funds Ltd now owns 109,018 shares of the oil and gas company’s stock valued at $22,971,000 after acquiring an additional 11,268 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Activity

In other news, Director John B. Hess sold 380,000 shares of the business’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $193.20, for a total value of $73,416,000.00. Following the sale, the director directly owned 278,045 shares in the company, valued at $53,718,294. The trade was a 57.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.56% of the stock is owned by corporate insiders.

Chevron Stock Up 1.9%

Chevron stock opened at $187.39 on Friday. The stock has a market capitalization of $373.21 billion, a PE ratio of 32.48, a price-to-earnings-growth ratio of 0.66 and a beta of 0.50. Chevron Corporation has a twelve month low of $146.49 and a twelve month high of $214.71. The company has a quick ratio of 0.84, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. The company has a 50 day moving average of $181.54 and a 200-day moving average of $182.44.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.41. The business had revenue of $47.56 billion for the quarter, compared to analyst estimates of $51.86 billion. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period last year, the business posted $2.18 earnings per share. On average, equities research analysts anticipate that Chevron Corporation will post 14.78 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 19th were issued a dividend of $1.78 per share. This represents a $7.12 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date was Tuesday, May 19th. Chevron’s dividend payout ratio is 123.40%.

Key Headlines Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron is expected to sign accords with Iraq to advance investments in major oil fields, including West Qurna 2 and Nassiriya, which could expand long-term production opportunities. Reuters article on Iraq oilfield MOUs
• Positive Sentiment: Reports that Chevron is exploring a pipeline alternative to the Strait of Hormuz suggest a potential way to boost Iraqi export capacity and lower shipping disruption risk, which investors may view as strategically important. The Motley Fool article on Hormuz bypass pipeline
• Positive Sentiment: Chevron is being highlighted as a relatively attractive long-term energy stock versus TotalEnergies because of its premium assets, strong balance sheet, and steadier earnings outlook. Yahoo Finance article comparing CVX and TTE
• Neutral Sentiment: Some commentary says Chevron stock looks closer to fairly valued after a strong five-year run, which may limit upside for investors expecting a clear bargain. Yahoo Finance article on valuation
• Neutral Sentiment: Chevron also benefited from broader energy-sector gains, with the sector rising even as the wider market was mixed. Yahoo Finance sector update

Wall Street Analysts Forecast Growth

CVX has been the subject of a number of research reports. Tudor Pickering upgraded Chevron from a “hold” rating to a “buy” rating and set a $225.00 price objective for the company in a research report on Thursday, April 9th. Royal Bank Of Canada restated an “outperform” rating and set a $220.00 target price on shares of Chevron in a research report on Tuesday, May 5th. UBS Group reaffirmed a “buy” rating on shares of Chevron in a research note on Tuesday, June 23rd. Barclays lifted their price objective on Chevron from $192.00 to $213.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 26th. Finally, The Goldman Sachs Group restated a “buy” rating and set a $216.00 price objective on shares of Chevron in a report on Wednesday, May 6th. Nineteen research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $206.83.

Chevron Company Profile

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.