Trinity Legacy Partners LLC Grows Stock Holdings in Chevron Corporation $CVX

Trinity Legacy Partners LLC boosted its holdings in Chevron Corporation (NYSE:CVX) by 4.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,834 shares of the oil and gas company’s stock after buying an additional 1,732 shares during the period. Chevron makes up 1.4% of Trinity Legacy Partners LLC’s investment portfolio, making the stock its 24th biggest holding. Trinity Legacy Partners LLC’s holdings in Chevron were worth $5,822,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Harvest Fund Management Co. Ltd grew its stake in Chevron by 420.7% in the 1st quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company’s stock valued at $25,000 after buying an additional 122 shares in the last quarter. Elequin Capital LP bought a new position in Chevron in the 1st quarter valued at $31,000. Cloud Capital Management LLC bought a new position in Chevron in the 1st quarter valued at $39,000. Investment Management Corp VA ADV boosted its holdings in Chevron by 171.3% in the 1st quarter. Investment Management Corp VA ADV now owns 236 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 149 shares during the period. Finally, 1 North Wealth Services LLC bought a new position in Chevron in the 1st quarter valued at $45,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Stock Performance

NYSE CVX opened at $153.53 on Friday. Chevron Corporation has a 52-week low of $132.04 and a 52-week high of $168.96. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00. The company has a market capitalization of $265.30 billion, a P/E ratio of 19.76, a P/E/G ratio of 1.97 and a beta of 0.84. The company has a fifty day moving average of $156.26 and a 200-day moving average of $149.14.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.19. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The company had revenue of $44.82 billion during the quarter, compared to the consensus estimate of $44.59 billion. During the same period in the previous year, the firm posted $2.55 EPS. The firm’s revenue was down 12.4% compared to the same quarter last year. As a group, equities research analysts predict that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were paid a $1.71 dividend. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $6.84 annualized dividend and a yield of 4.5%. Chevron’s payout ratio is currently 88.03%.

Wall Street Analyst Weigh In

CVX has been the subject of several analyst reports. TD Cowen raised their price target on shares of Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a report on Monday, August 4th. Barclays reissued an “equal weight” rating on shares of Chevron in a report on Tuesday, July 15th. Melius initiated coverage on shares of Chevron in a report on Wednesday, August 20th. They issued a “hold” rating and a $155.00 price target for the company. Jefferies Financial Group reissued a “buy” rating on shares of Chevron in a report on Friday, July 18th. Finally, Evercore ISI reissued an “outperform” rating and issued a $180.00 price target on shares of Chevron in a report on Thursday, July 31st. Eleven investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, Chevron presently has an average rating of “Hold” and a consensus price target of $165.05.

Insider Buying and Selling at Chevron

In other Chevron news, Director John B. Hess sold 375,000 shares of the business’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $158.30, for a total value of $59,362,500.00. Following the completion of the sale, the director directly owned 1,403,045 shares of the company’s stock, valued at $222,102,023.50. The trade was a 21.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Alana K. Knowles sold 3,978 shares of the business’s stock in a transaction on Friday, August 29th. The stock was sold at an average price of $160.00, for a total transaction of $636,480.00. Following the completion of the sale, the vice president directly owned 1,181 shares of the company’s stock, valued at $188,960. This represents a 77.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.

About Chevron

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.