TRUE Private Wealth Advisors Has $5.13 Million Holdings in Chevron Co. (NYSE:CVX)

TRUE Private Wealth Advisors lowered its position in Chevron Co. (NYSE:CVX) by 3.5% during the third quarter, HoldingsChannel reports. The institutional investor owned 34,806 shares of the oil and gas company’s stock after selling 1,258 shares during the period. Chevron comprises 0.6% of TRUE Private Wealth Advisors’ investment portfolio, making the stock its 28th biggest position. TRUE Private Wealth Advisors’ holdings in Chevron were worth $5,126,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Armstrong Henry H Associates Inc. increased its holdings in shares of Chevron by 8.3% during the 2nd quarter. Armstrong Henry H Associates Inc. now owns 1,678 shares of the oil and gas company’s stock valued at $262,000 after acquiring an additional 128 shares during the last quarter. GAMMA Investing LLC grew its holdings in Chevron by 59.0% during the second quarter. GAMMA Investing LLC now owns 21,806 shares of the oil and gas company’s stock valued at $3,411,000 after purchasing an additional 8,089 shares during the last quarter. Massmutual Trust Co. FSB ADV raised its position in shares of Chevron by 1.4% in the second quarter. Massmutual Trust Co. FSB ADV now owns 313,164 shares of the oil and gas company’s stock valued at $48,985,000 after purchasing an additional 4,412 shares during the period. Hudson Valley Investment Advisors Inc. ADV lifted its stake in shares of Chevron by 5.3% in the second quarter. Hudson Valley Investment Advisors Inc. ADV now owns 26,946 shares of the oil and gas company’s stock worth $4,028,000 after buying an additional 1,353 shares during the last quarter. Finally, Modus Advisors LLC boosted its holdings in shares of Chevron by 4.6% during the 2nd quarter. Modus Advisors LLC now owns 17,440 shares of the oil and gas company’s stock worth $2,728,000 after buying an additional 769 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on CVX. Citigroup upgraded shares of Chevron from a “neutral” rating to a “buy” rating and increased their target price for the company from $145.00 to $185.00 in a research note on Tuesday. DZ Bank upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target for the company in a research note on Tuesday, November 5th. UBS Group boosted their target price on shares of Chevron from $192.00 to $194.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Scotiabank decreased 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. Finally, Wells Fargo & Company decreased their price objective on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a report on Friday, September 27th. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, Chevron currently has an average rating of “Moderate Buy” and an average target price of $175.56.

Insider Buying and Selling

In other news, CEO Michael K. Wirth sold 164,600 shares of the company’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the completion of the transaction, the chief executive officer now directly owns 4,280 shares in the company, valued at approximately $685,356.40. This represents a 97.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.20% of the stock is owned by corporate insiders.

Chevron Price Performance

CVX stock opened at $161.98 on Friday. The company’s 50-day moving average price is $153.36 and its two-hundred day moving average price is $152.61. The firm has a market cap of $291.09 billion, a P/E ratio of 17.80, a P/E/G ratio of 3.58 and a beta of 1.09. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $167.11.

Chevron (NYSE:CVX) last released its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, topping the consensus estimate 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 period in the prior year, the company earned $3.05 earnings per share. The company’s quarterly revenue was down 6.3% on a year-over-year basis. On average, analysts anticipate that Chevron Co. will post 10.53 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 18th will be issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 4.03%. The ex-dividend date is Monday, November 18th. Chevron’s dividend payout ratio (DPR) is presently 71.65%.

Chevron Profile

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.