tru Independence LLC Has $4.59 Million Stake in Chevron Co. (NYSE:CVX)

tru Independence LLC decreased its position in Chevron Co. (NYSE:CVX) by 3.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 31,673 shares of the oil and gas company’s stock after selling 1,186 shares during the quarter. tru Independence LLC’s holdings in Chevron were worth $4,587,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of CVX. State Street Corp lifted its stake in Chevron by 0.6% during the third quarter. State Street Corp now owns 159,105,244 shares of the oil and gas company’s stock worth $23,431,429,000 after purchasing an additional 874,962 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Chevron by 11.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 31,108,760 shares of the oil and gas company’s stock worth $4,581,137,000 after buying an additional 3,203,899 shares during the period. Fisher Asset Management LLC raised its stake in Chevron by 3.6% during the third quarter. Fisher Asset Management LLC now owns 19,482,388 shares of the oil and gas company’s stock worth $2,869,171,000 after acquiring an additional 672,244 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of Chevron by 3.4% during the third quarter. Franklin Resources Inc. now owns 17,200,188 shares of the oil and gas company’s stock valued at $2,610,645,000 after acquiring an additional 573,218 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Chevron by 1.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,790,856 shares of the oil and gas company’s stock valued at $1,147,359,000 after purchasing an additional 138,496 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on CVX shares. Truist Financial upped their price objective on shares of Chevron from $160.00 to $164.00 and gave the stock a “hold” rating in a research note on Monday, January 13th. Barclays increased their price objective on shares of Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Royal Bank of Canada raised their price target on shares of Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a report on Monday, November 4th. UBS Group upped their price objective on Chevron from $194.00 to $195.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Finally, DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price for the company in a research note on Tuesday, November 5th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $175.27.

Insider Transactions at Chevron

In related news, CEO Michael K. Wirth sold 164,600 shares of the business’s 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 sale, the chief executive officer now directly owns 4,280 shares of the company’s stock, valued at approximately $685,356.40. The trade was a 97.47 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.20% of the stock is currently owned by insiders.

Chevron Stock Performance

Shares of NYSE:CVX opened at $156.24 on Wednesday. The company has a market capitalization of $280.78 billion, a price-to-earnings ratio of 17.17, a P/E/G ratio of 1.37 and a beta of 1.12. The firm’s 50 day simple moving average is $153.74 and its 200 day simple moving average is $151.12. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, topping analysts’ consensus estimates of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The company had revenue of $50.67 billion for the quarter, compared to analysts’ expectations of $48.86 billion. During the same period last year, the firm posted $3.05 earnings per share. The business’s quarterly revenue was down 6.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Chevron Co. will post 10.18 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th were issued a $1.63 dividend. The ex-dividend date was Monday, November 18th. This represents a $6.52 annualized dividend and a dividend yield of 4.17%. Chevron’s dividend payout ratio (DPR) is currently 71.65%.

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.