Trifecta Capital Advisors LLC Makes New $727,000 Investment in Chevron Corporation $CVX

Trifecta Capital Advisors LLC acquired a new stake in Chevron Corporation (NYSE:CVX) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 4,384 shares of the oil and gas company’s stock, valued at approximately $727,000.

A number of other hedge funds also recently made changes to their positions in CVX. Good Steward Wealth Advisors LLC acquired a new position in shares of Chevron during the second quarter worth $324,000. Everett Harris & Co. CA acquired a new stake in Chevron during the 2nd quarter valued at $88,074,000. Summit Global Investments acquired a new stake in Chevron during the 2nd quarter valued at $3,117,000. Stack Financial Management Inc purchased a new stake in Chevron during the 2nd quarter worth $43,660,000. Finally, Oppenheimer Asset Management Inc. acquired a new position in Chevron in the 2nd quarter worth $117,784,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Price Performance

Shares of CVX stock opened at $199.99 on Friday. The firm has a market cap of $395.13 billion, a P/E ratio of 19.17, a P/E/G ratio of 0.60 and a beta of 0.49. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.25 and a quick ratio of 0.98. Chevron Corporation has a 1-year low of $146.49 and a 1-year high of $214.71. The firm has a fifty day moving average of $183.30 and a two-hundred day moving average of $186.88.

Chevron (NYSE:CVX) last released its earnings results on Friday, July 31st. The oil and gas company reported $6.06 earnings per share for the quarter, topping the consensus estimate of $5.55 by $0.51. The company had revenue of $67.20 billion during the quarter, compared to the consensus estimate of $62.72 billion. Chevron had a net margin of 9.57% and a return on equity of 11.09%. The company’s revenue was up 57.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.77 EPS. As a group, research analysts anticipate that Chevron Corporation will post 15.86 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be issued a $1.78 dividend. This represents a $7.12 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Wednesday, August 19th. Chevron’s payout ratio is currently 68.26%.

Insider Activity

In other Chevron news, Director John B. Hess sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $194.26, for a total transaction of $19,426,000.00. Following the sale, the director owned 178,045 shares in the company, valued at $34,587,021.70. This represents a 35.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Michael K. Wirth sold 5,547 shares of Chevron stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $187.00, for a total value of $1,037,289.00. Following the completion of the transaction, the chief executive officer owned 26,308 shares of the company’s stock, valued at approximately $4,919,596. The trade was a 17.41% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 1,196,212 shares of company stock valued at $231,819,366. 0.56% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on CVX shares. Scotiabank raised their target price on Chevron from $168.00 to $187.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 22nd. Sanford C. Bernstein boosted their price target on Chevron from $204.00 to $209.00 and gave the stock a “market perform” rating in a research note on Monday, August 3rd. Piper Sandler initiated coverage on Chevron in a research note on Thursday, July 23rd. They issued an “overweight” rating and a $207.00 price target on the stock. Jefferies Financial Group reissued a “buy” rating and issued a $216.00 price target on shares of Chevron in a report on Friday, July 10th. Finally, Wall Street Zen upgraded Chevron from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Twenty research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Chevron currently has a consensus rating of “Moderate Buy” and a consensus price target of $207.48.

Chevron Profile

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.