TruWealth Advisors LLC lifted its position in Chevron Co. (NYSE:CVX - Free Report) by 1.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 109,577 shares of the oil and gas company's stock after buying an additional 2,030 shares during the period. TruWealth Advisors LLC's holdings in Chevron were worth $15,871,000 at the end of the most recent reporting period.
Several other large investors have also bought and sold shares of CVX. Sei Investments Co. raised its position in shares of Chevron by 8.5% during the second quarter. Sei Investments Co. now owns 659,273 shares of the oil and gas company's stock worth $103,121,000 after purchasing an additional 51,564 shares during the period. Kowal Investment Group LLC boosted its stake in Chevron by 2.8% in the 2nd quarter. Kowal Investment Group LLC now owns 11,250 shares of the oil and gas company's stock worth $1,760,000 after purchasing an additional 309 shares during the period. Holderness Investments Co. grew its position in Chevron by 0.3% during the 2nd quarter. Holderness Investments Co. now owns 25,128 shares of the oil and gas company's stock worth $3,931,000 after purchasing an additional 77 shares in the last quarter. Frank Rimerman Advisors LLC raised its stake in Chevron by 13,094.9% during the 2nd quarter. Frank Rimerman Advisors LLC now owns 26,126 shares of the oil and gas company's stock valued at $4,087,000 after purchasing an additional 25,928 shares during the period. Finally, Greenline Partners LLC lifted its holdings in shares of Chevron by 13.1% in the second quarter. Greenline Partners LLC now owns 26,566 shares of the oil and gas company's stock valued at $4,158,000 after purchasing an additional 3,075 shares in the last quarter. Institutional investors own 72.42% of the company's stock.
Wall Street Analyst Weigh In
Several research analysts recently weighed in on CVX shares. Scotiabank dropped their price target on Chevron from $180.00 to $163.00 and set a "sector outperform" rating on the stock in a research report on Thursday, October 10th. Citigroup upgraded Chevron from a "neutral" rating to a "buy" rating and upped their target price for the company from $145.00 to $185.00 in a report on Tuesday, November 26th. Barclays raised their price target on shares of Chevron from $168.00 to $174.00 and gave the stock an "overweight" rating in a report on Monday, November 4th. Bank of America initiated coverage on shares of Chevron in a research note on Thursday, October 17th. They issued a "buy" rating and a $168.00 price objective on the stock. Finally, Wells Fargo & Company boosted their price target on shares of Chevron from $171.00 to $188.00 and gave the company an "overweight" rating in a report on Monday, December 9th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $175.27.
Read Our Latest Analysis on CVX
Chevron Stock Up 1.4 %
Shares of CVX traded up $2.16 during trading hours on Monday, hitting $161.54. 9,233,657 shares of the company were exchanged, compared to its average volume of 7,835,055. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The company has a market cap of $290.30 billion, a PE ratio of 17.75, a PEG ratio of 2.62 and a beta of 1.12. The firm's 50 day moving average is $153.93 and its 200-day moving average is $151.01. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.11.
Chevron (NYSE:CVX - Get Free Report) last announced its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.47 by $0.04. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The firm had revenue of $50.67 billion during the quarter, compared to analysts' expectations of $48.86 billion. During the same quarter in the prior year, the business earned $3.05 earnings per share. The company's revenue was down 6.3% on a year-over-year basis. On average, equities research analysts forecast that Chevron Co. will post 10.39 EPS for the current fiscal year.
Chevron Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 18th were issued a $1.63 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $6.52 annualized dividend and a yield of 4.04%. Chevron's dividend payout ratio (DPR) is presently 71.65%.
Insiders Place Their Bets
In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total value of $26,357,398.00. Following the completion of the sale, the chief executive officer now directly owns 4,280 shares of the company's stock, valued at $685,356.40. This represents a 97.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.20% of the company's stock.
About Chevron
(
Free Report)
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.
Featured Stories
Before you consider Chevron, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Chevron wasn't on the list.
While Chevron currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.