TrueWealth Advisors LLC Boosts Stock Position in Chevron Co. (NYSE:CVX)

TrueWealth Advisors LLC boosted its stake in Chevron Co. (NYSE:CVX) by 46.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 11,589 shares of the oil and gas company’s stock after acquiring an additional 3,696 shares during the quarter. TrueWealth Advisors LLC’s holdings in Chevron were worth $1,679,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CVX. Folger Nolan Fleming Douglas Capital Management Inc. lifted its stake in Chevron by 2.1% in the 4th quarter. Folger Nolan Fleming Douglas Capital Management Inc. now owns 48,683 shares of the oil and gas company’s stock valued at $7,051,000 after buying an additional 982 shares in the last quarter. Brooklyn Investment Group lifted its position in shares of Chevron by 118.7% in the fourth quarter. Brooklyn Investment Group now owns 7,737 shares of the oil and gas company’s stock valued at $1,121,000 after acquiring an additional 4,200 shares in the last quarter. Whitener Capital Management Inc. boosted its stake in shares of Chevron by 13.2% in the fourth quarter. Whitener Capital Management Inc. now owns 21,569 shares of the oil and gas company’s stock worth $3,124,000 after acquiring an additional 2,513 shares during the last quarter. Helen Stephens Group LLC boosted its stake in shares of Chevron by 4.8% in the fourth quarter. Helen Stephens Group LLC now owns 3,489 shares of the oil and gas company’s stock worth $505,000 after acquiring an additional 159 shares during the last quarter. Finally, Somerset Trust Co increased its position in shares of Chevron by 2.6% during the fourth quarter. Somerset Trust Co now owns 14,756 shares of the oil and gas company’s stock worth $2,137,000 after purchasing an additional 371 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

CVX has been the subject of a number of research reports. Truist Financial upped their target price on shares of Chevron from $160.00 to $164.00 and gave the stock a “hold” rating in a report on Monday, January 13th. Bank of America initiated coverage on shares of Chevron in a report on Thursday, October 17th. They issued a “buy” rating and a $168.00 price objective for the company. Raymond James boosted their target price on Chevron from $175.00 to $180.00 and gave the stock an “outperform” rating in a report on Friday. DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target for the company in a research report on Tuesday, November 5th. Finally, Barclays lifted their price objective on Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $175.27.

Chevron Stock Performance

NYSE:CVX opened at $161.54 on Friday. The stock has a market capitalization of $290.30 billion, a P/E ratio of 17.75, a PEG ratio of 2.62 and a beta of 1.12. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11. The company has a 50 day moving average price of $153.93 and a 200 day moving average price of $151.09.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. The business had revenue of $50.67 billion during the quarter, compared to analysts’ expectations of $48.86 billion. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The company’s revenue was down 6.3% on a year-over-year basis. During the same period in the previous year, the firm posted $3.05 earnings per share. Equities research analysts forecast that Chevron Co. will post 10.39 EPS for the current year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th were given a dividend of $1.63 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $6.52 annualized dividend and a dividend yield of 4.04%. Chevron’s dividend payout ratio is presently 71.65%.

Insider Activity

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 4,280 shares in the company, valued at $685,356.40. This represents a 97.47 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.20% of the company’s stock.

Chevron Company 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.