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

TrueWealth Advisors LLC lessened its stake in shares of Chevron Co. (NYSE:CVX) by 1.1% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,711 shares of the oil and gas company’s stock after selling 136 shares during the period. TrueWealth Advisors LLC’s holdings in Chevron were worth $1,832,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC increased its stake in Chevron by 4.9% during the fourth quarter. International Assets Investment Management LLC now owns 21,470 shares of the oil and gas company’s stock worth $3,202,000 after acquiring an additional 1,005 shares during the last quarter. GUNN & Co INVESTMENT MANAGEMENT INC. increased its position in shares of Chevron by 796.5% during the 4th quarter. GUNN & Co INVESTMENT MANAGEMENT INC. now owns 15,599 shares of the oil and gas company’s stock valued at $2,327,000 after purchasing an additional 13,859 shares during the last quarter. Marks Group Wealth Management Inc raised its holdings in Chevron by 5.4% during the 4th quarter. Marks Group Wealth Management Inc now owns 2,083 shares of the oil and gas company’s stock valued at $311,000 after buying an additional 106 shares during the period. Carret Asset Management LLC lifted its position in Chevron by 0.4% in the fourth quarter. Carret Asset Management LLC now owns 80,820 shares of the oil and gas company’s stock worth $12,055,000 after buying an additional 288 shares during the last quarter. Finally, Atria Wealth Solutions Inc. boosted its stake in Chevron by 0.5% during the fourth quarter. Atria Wealth Solutions Inc. now owns 177,347 shares of the oil and gas company’s stock worth $26,453,000 after buying an additional 856 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Wells Fargo & Company lifted their price target on shares of Chevron from $198.00 to $206.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 30th. HSBC boosted their target price on Chevron from $175.00 to $178.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Scotiabank reduced their price target on Chevron from $195.00 to $180.00 and set a “sector outperform” rating on the stock in a report on Friday, July 12th. Wolfe Research initiated coverage on Chevron in a report on Thursday, July 18th. They set a “peer perform” rating for the company. Finally, Mizuho increased their target price on Chevron from $200.00 to $205.00 and gave the stock a “buy” rating in a research note on Monday, May 13th. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, Chevron has a consensus rating of “Moderate Buy” and a consensus target price of $183.82.

Chevron Stock Up 1.3 %

Shares of NYSE:CVX traded up $1.89 during trading hours on Friday, hitting $147.62. The company’s stock had a trading volume of 4,824,078 shares, compared to its average volume of 7,814,477. The firm’s fifty day moving average price is $152.97 and its 200 day moving average price is $155.78. Chevron Co. has a 52 week low of $139.62 and a 52 week high of $171.70. The company has a market capitalization of $272.06 billion, a price-to-earnings ratio of 13.58, a P/E/G ratio of 2.46 and a beta of 1.10. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). The business had revenue of $51.18 billion during the quarter, compared to the consensus estimate of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. The business’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period last year, the firm earned $3.08 EPS. As a group, research analysts expect that Chevron Co. will post 11.96 EPS for the current year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 19th will be given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 4.42%. The ex-dividend date is Monday, August 19th. Chevron’s payout ratio is currently 59.98%.

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.