True Freedom Investing LLC Purchases Shares of 33,020 Chevron Corporation $CVX

True Freedom Investing LLC purchased a new stake in Chevron Corporation (NYSE:CVX) in the 2nd quarter, HoldingsChannel reports. The fund purchased 33,020 shares of the oil and gas company’s stock, valued at approximately $6,832,000. Chevron makes up 0.5% of True Freedom Investing LLC’s holdings, making the stock its 13th largest position.

A number of other hedge funds also recently made changes to their positions in CVX. BlackRock Inc. bought a new stake in Chevron in the second quarter valued at approximately $25,663,729,000. Norges Bank acquired a new stake in Chevron during the 4th quarter valued at approximately $3,727,586,000. Bank of New York Mellon Corp bought a new position in Chevron during the 2nd quarter worth approximately $2,378,114,000. State Street Corp raised its holdings in Chevron by 9.1% during the 3rd quarter. State Street Corp now owns 152,605,988 shares of the oil and gas company’s stock worth $23,698,184,000 after purchasing an additional 12,789,399 shares during the last quarter. Finally, Berkshire Hathaway Inc lifted its position in shares of Chevron by 6.6% in the 4th quarter. Berkshire Hathaway Inc now owns 130,156,362 shares of the oil and gas company’s stock worth $19,837,131,000 after purchasing an additional 8,091,570 shares during the period. 72.42% of the stock is currently owned by institutional investors.

Insider Activity at Chevron

In related news, Director John B. Hess sold 710,665 shares of the stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $194.10, for a total transaction of $137,940,076.50. Following the transaction, the director directly owned 363,711 shares of the company’s stock, valued at $70,596,305.10. This represents a 66.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Andrew Benjamin Walz sold 16,800 shares of the firm’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $201.06, for a total transaction of $3,377,808.00. Following the completion of the sale, the insider owned 14 shares of the company’s stock, valued at $2,814.84. The trade was a 99.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 1,152,582 shares of company stock valued at $225,853,661 in the last ninety days. Insiders own 0.56% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on CVX shares. UBS Group reaffirmed a “buy” rating on shares of Chevron in a research note on Tuesday, June 23rd. Barclays decreased their price objective on shares of Chevron from $216.00 to $208.00 and set an “equal weight” rating for the company in a research report on Monday, August 17th. Jefferies Financial Group reissued a “buy” rating and set a $216.00 target price on shares of Chevron in a research note on Friday, July 10th. Bank of America boosted their target price on shares of Chevron from $210.00 to $227.00 and gave the company a “buy” rating in a report on Tuesday, July 28th. Finally, Mizuho set a $224.00 price target on shares of Chevron in a research report on Monday, August 3rd. Twenty equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $207.48.

Trending Headlines about Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Brent crude recently approached $94–$95 per barrel amid renewed Middle East tensions and concerns about Strait of Hormuz disruptions. Sustained higher oil prices typically benefit Chevron’s upstream revenue, margins and cash flow. Chevron jumps as Brent crude approaches $94
• Positive Sentiment: Chevron confirmed an oil and gas condensate discovery at the 105-4X well in offshore Angola. Its proximity to existing facilities could allow a lower-cost tie-back, creating a potential source of future production. Chevron Angola discovery analysis
• Positive Sentiment: Chevron’s $1.78 quarterly dividend, equal to $7.12 annually and an approximately 3.5% yield, reinforces its appeal to income investors. The company also recently exceeded quarterly earnings and revenue expectations. Chevron raises dividend
• Neutral Sentiment: Analysis comparing Chevron with Exxon Mobil highlights differing long-term strategies, including Chevron’s continued emphasis on oil and gas. The approach could benefit from strong commodity prices but leaves CVX more exposed to future oil-demand and price cycles. Chevron versus Exxon Mobil analysis
• Negative Sentiment: Iraq plans to more than double its oil output over the next six years. If achieved, the added supply could pressure global crude prices and reduce the earnings benefit Chevron receives from today’s elevated prices. Iraq oil output and Chevron
• Negative Sentiment: Two Chevron insiders sold shares recently: Andrew Benjamin Walz sold 16,800 shares, while R. Hewitt Pate sold 2,470 shares. Although such transactions may reflect personal financial planning, they can create a modest sentiment overhang. Chevron insider sale report
• Negative Sentiment: A separate analysis says concerns remain centered on Chevron, including issues surrounding its Hess Midstream exposure and broader execution risks. The report may temper enthusiasm after CVX’s recent advance. Hess Midstream: The Issue Remains With Chevron

Chevron Trading Down 0.3%

Shares of CVX stock opened at $205.25 on Friday. Chevron Corporation has a fifty-two week low of $146.49 and a fifty-two week high of $214.71. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.98 and a current ratio of 1.25. The stock has a 50 day simple moving average of $185.03 and a two-hundred day simple moving average of $188.07. The company has a market cap of $405.53 billion, a P/E ratio of 19.68, a PEG ratio of 0.61 and a beta of 0.49.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, July 31st. The oil and gas company reported $6.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.55 by $0.51. The firm had revenue of $67.20 billion for the quarter, compared to analysts’ expectations of $62.72 billion. Chevron had a return on equity of 11.09% and a net margin of 9.57%.The company’s revenue for the quarter was up 57.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.77 EPS. Research analysts forecast that Chevron Corporation will post 16.17 earnings per share for the current year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be given a dividend of $1.78 per share. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Wednesday, August 19th. Chevron’s payout ratio is presently 68.26%.

About Chevron

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.