Trifecta Capital Advisors LLC Buys 813 Shares of Chevron Corporation $CVX

Trifecta Capital Advisors LLC lifted its holdings in Chevron Corporation (NYSE:CVX) by 22.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,504 shares of the oil and gas company’s stock after acquiring an additional 813 shares during the period. Trifecta Capital Advisors LLC’s holdings in Chevron were worth $645,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in CVX. Wealthcare Advisory Partners LLC raised its position in shares of Chevron by 6.2% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 28,303 shares of the oil and gas company’s stock worth $4,735,000 after acquiring an additional 1,644 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Chevron by 27.3% in the 1st quarter. GAMMA Investing LLC now owns 32,329 shares of the oil and gas company’s stock worth $5,408,000 after acquiring an additional 6,928 shares in the last quarter. Integral Investment Advisors Inc. raised its position in shares of Chevron by 1.0% in the 1st quarter. Integral Investment Advisors Inc. now owns 14,601 shares of the oil and gas company’s stock worth $2,443,000 after acquiring an additional 144 shares in the last quarter. MV Capital Management Inc. raised its position in shares of Chevron by 78.9% in the 1st quarter. MV Capital Management Inc. now owns 2,487 shares of the oil and gas company’s stock worth $416,000 after acquiring an additional 1,097 shares in the last quarter. Finally, Redhawk Wealth Advisors Inc. raised its position in shares of Chevron by 16.8% in the 1st quarter. Redhawk Wealth Advisors Inc. now owns 9,521 shares of the oil and gas company’s stock worth $1,593,000 after acquiring an additional 1,369 shares in the last quarter. 72.42% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director John B. Hess sold 375,000 shares of the business’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $158.30, for a total value of $59,362,500.00. Following the transaction, the director owned 1,403,045 shares in the company, valued at $222,102,023.50. The trade was a 21.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Alana K. Knowles sold 3,978 shares of the business’s stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $160.00, for a total value of $636,480.00. Following the completion of the transaction, the vice president owned 1,181 shares in the company, valued at $188,960. The trade was a 77.11% decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Barclays reduced their target price on Chevron from $160.00 to $158.00 and set an “equal weight” rating for the company in a research note on Tuesday. Wells Fargo & Company restated an “overweight” rating and issued a $178.00 target price on shares of Chevron in a research note on Friday, August 1st. Melius assumed coverage on Chevron in a research note on Wednesday, August 20th. They issued a “hold” rating and a $155.00 target price for the company. Melius Research assumed coverage on Chevron in a research note on Wednesday, August 20th. They issued a “hold” rating and a $155.00 target price for the company. Finally, Mizuho reduced their target price on Chevron from $192.00 to $191.00 and set an “outperform” rating for the company in a research note on Monday, September 15th. Eleven investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $165.15.

Chevron Price Performance

CVX stock opened at $153.76 on Thursday. The company has a market capitalization of $265.70 billion, a P/E ratio of 19.79, a price-to-earnings-growth ratio of 1.99 and a beta of 0.84. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00. Chevron Corporation has a 52-week low of $132.04 and a 52-week high of $168.96. The business has a 50-day simple moving average of $156.15 and a two-hundred day simple moving average of $148.88.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.19. The business had revenue of $44.82 billion during the quarter, compared to the consensus estimate of $44.59 billion. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The company’s quarterly revenue was down 12.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.55 EPS. Research analysts expect that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date was Tuesday, August 19th. Chevron’s payout ratio is presently 88.03%.

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.