True Link Financial Advisors LLC Cuts Stock Position in Chevron Co. (NYSE:CVX)

True Link Financial Advisors LLC decreased its stake in shares of Chevron Co. (NYSE:CVX) by 8.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,808 shares of the oil and gas company’s stock after selling 171 shares during the quarter. True Link Financial Advisors LLC’s holdings in Chevron were worth $285,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Bare Financial Services Inc bought a new stake in shares of Chevron in the 4th quarter worth $27,000. Frank Rimerman Advisors LLC purchased a new stake in shares of Chevron during the fourth quarter valued at $30,000. Valued Wealth Advisors LLC bought a new stake in Chevron in the 4th quarter worth about $33,000. Cooksen Wealth LLC purchased a new position in Chevron in the 4th quarter worth about $40,000. Finally, Clear Investment Research LLC lifted its stake in Chevron by 264.9% during the 4th quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock valued at $42,000 after acquiring an additional 204 shares during the period. 72.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have 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. Raymond James boosted their target price on shares of Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a research note on Monday, April 15th. Scotiabank raised Chevron from a “sector perform” rating to a “sector outperform” rating and increased their target price for the company from $170.00 to $195.00 in a report on Thursday, April 11th. Truist Financial boosted their price target on Chevron from $156.00 to $166.00 and gave the company a “hold” rating in a research note on Friday, May 10th. Finally, HSBC increased their price objective on shares of Chevron from $175.00 to $178.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $186.95.

Insider Transactions at Chevron

In related news, Director Enrique Hernandez, Jr. sold 2,549 shares of the firm’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $161.00, for a total value of $410,389.00. Following the completion of the transaction, the director now directly owns 7,647 shares of the company’s stock, valued at $1,231,167. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Chevron news, Director Enrique Hernandez, Jr. sold 2,549 shares of Chevron stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $161.00, for a total value of $410,389.00. Following the completion of the transaction, the director now directly owns 7,647 shares of the company’s stock, valued at approximately $1,231,167. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $165.00, for a total transaction of $462,000.00. Following the completion of the sale, the vice president now owns 276 shares in the company, valued at $45,540. The disclosure for this sale can be found here. Insiders have sold 16,746 shares of company stock valued at $2,727,971 in the last ninety days. Corporate insiders own 0.20% of the company’s stock.

Chevron Price Performance

Shares of NYSE:CVX opened at $156.75 on Thursday. The firm has a market cap of $288.89 billion, a price-to-earnings ratio of 14.42, a P/E/G ratio of 2.38 and a beta of 1.10. The firm has a fifty day moving average price of $158.99 and a 200 day moving average price of $154.88. Chevron Co. has a fifty-two week low of $139.62 and a fifty-two week high of $171.70. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.93 and a current ratio of 1.23.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, beating the consensus estimate of $2.84 by $0.09. Chevron had a net margin of 10.21% and a return on equity of 14.40%. The business had revenue of $48.72 billion during the quarter, compared to the consensus estimate of $48.42 billion. During the same quarter in the prior year, the firm earned $3.55 EPS. The business’s revenue was down 4.1% on a year-over-year basis. As a group, sell-side analysts expect that Chevron Co. will post 13.15 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 17th were paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 4.16%. The ex-dividend date was Thursday, May 16th. Chevron’s payout ratio is 59.98%.

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.