True North Advisors LLC Has $1.59 Million Stock Holdings in Chevron Co. (NYSE:CVX)

True North Advisors LLC reduced its stake in shares of Chevron Co. (NYSE:CVXFree Report) by 26.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,678 shares of the oil and gas company’s stock after selling 3,880 shares during the quarter. True North Advisors LLC’s holdings in Chevron were worth $1,593,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Picton Mahoney Asset Management acquired a new position in shares of Chevron in the 3rd quarter valued at approximately $26,000. Valley Forge Investment Consultants Inc. ADV lifted its stake in Chevron by 80.0% during the third quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock worth $30,000 after purchasing an additional 80 shares during the last quarter. Valued Wealth Advisors LLC acquired a new stake in shares of Chevron in the 4th quarter valued at $33,000. DHJJ Financial Advisors Ltd. bought a new position in shares of Chevron in the 3rd quarter valued at $35,000. Finally, Worth Asset Management LLC bought a new stake in shares of Chevron during the 1st quarter worth $36,000. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Up 0.8 %

Shares of NYSE CVX opened at $159.03 on Tuesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.27 and a quick ratio of 1.01. The company has a 50-day moving average price of $152.23 and a 200-day moving average price of $152.47. The stock has a market capitalization of $295.36 billion, a P/E ratio of 14.00, a P/E/G ratio of 2.42 and a beta of 1.12. Chevron Co. has a 1 year low of $139.62 and a 1 year high of $172.88.

Chevron (NYSE:CVXGet Free Report) last announced its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share for the quarter, beating the consensus estimate of $3.19 by $0.26. The business had revenue of $47.18 billion for the quarter, compared to analysts’ expectations of $50.93 billion. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The firm’s revenue for the quarter was down 16.5% compared to the same quarter last year. During the same quarter last year, the firm earned $4.09 EPS. On average, equities research analysts forecast that Chevron Co. will post 13.04 EPS for the current fiscal year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Friday, February 16th were issued a dividend of $1.63 per share. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $6.52 annualized dividend and a yield of 4.10%. This is an increase from Chevron’s previous quarterly dividend of $1.51. Chevron’s dividend payout ratio is 57.39%.

Analyst Ratings Changes

CVX has been the subject of several research analyst reports. Piper Sandler lowered their target price on Chevron from $188.00 to $180.00 and set an “overweight” rating for the company in a research note on Thursday, March 14th. Royal Bank of Canada upped their price target on shares of Chevron from $185.00 to $190.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. UBS Group cut their price objective on Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a report on Thursday, December 14th. DZ Bank cut Chevron from a “buy” rating to a “hold” rating and set a $160.00 target price for the company. in a report on Tuesday, February 6th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of Chevron in a research note on Monday. Seven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Chevron presently has a consensus rating of “Moderate Buy” and an average target price of $180.39.

Get Our Latest Stock Analysis on CVX

About Chevron

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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