Truadvice LLC Acquires 274 Shares of Chevron Co. (NYSE:CVX)

Posted by Defense World Staff on Apr 1st, 2023

Truadvice LLC lifted its position in shares of Chevron Co. (NYSE:CVX – Get Rating) by 15.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,012 shares of the oil and gas company’s stock after acquiring an additional 274 shares during the quarter. Truadvice LLC’s holdings in Chevron were worth $363,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in CVX. Cantor Fitzgerald Investment Advisor L.P raised its stake in Chevron by 85.1% in the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 159,115 shares of the oil and gas company’s stock valued at $25,908,000 after buying an additional 73,141 shares during the period. Axiom Financial Strategies LLC boosted its holdings in shares of Chevron by 25.2% in the 1st quarter. Axiom Financial Strategies LLC now owns 7,335 shares of the oil and gas company’s stock valued at $1,155,000 after purchasing an additional 1,476 shares in the last quarter. GQG Partners LLC boosted its holdings in shares of Chevron by 4.7% in the 1st quarter. GQG Partners LLC now owns 40,538 shares of the oil and gas company’s stock valued at $6,598,000 after purchasing an additional 1,813 shares in the last quarter. Lumature Wealth Partners LLC lifted its stake in shares of Chevron by 43.5% in the 1st quarter. Lumature Wealth Partners LLC now owns 5,837 shares of the oil and gas company’s stock valued at $950,000 after acquiring an additional 1,770 shares during the last quarter. Finally, First Trust Advisors LP lifted its stake in shares of Chevron by 13.8% in the 1st quarter. First Trust Advisors LP now owns 2,068,600 shares of the oil and gas company’s stock valued at $336,830,000 after acquiring an additional 250,840 shares during the last quarter. Institutional investors own 69.37% of the company’s stock.

Insider Transactions at Chevron

In other Chevron news, VP Rhonda J. Morris sold 19,666 shares of Chevron stock in a transaction on Tuesday, February 7th. The shares were sold at an average price of $170.00, for a total value of $3,343,220.00. Following the completion of the transaction, the vice president now owns 3,967 shares of the company’s stock, valued at $674,390. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.32% of the company’s stock.

Chevron Price Performance

Shares of NYSE CVX opened at $163.16 on Friday. The stock has a market cap of $311.09 billion, a price-to-earnings ratio of 8.93, a PEG ratio of 0.78 and a beta of 1.16. Chevron Co. has a 52 week low of $132.54 and a 52 week high of $189.68. The company’s 50-day moving average price is $165.22 and its 200 day moving average price is $169.40. The company has a current ratio of 1.47, a quick ratio of 1.23 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX – Get Rating) last announced its quarterly earnings data on Friday, January 27th. The oil and gas company reported $4.09 earnings per share for the quarter, missing the consensus estimate of $4.16 by ($0.07). Chevron had a return on equity of 23.52% and a net margin of 14.40%. The company had revenue of $56.47 billion for the quarter, compared to analysts’ expectations of $53.97 billion. During the same quarter in the previous year, the company earned $2.56 earnings per share. The company’s revenue was up 17.1% on a year-over-year basis. As a group, research analysts forecast that Chevron Co. will post 14.55 earnings per share for the current fiscal year.

Chevron announced that its Board of Directors has authorized a share buyback plan on Wednesday, January 25th that allows the company to repurchase $75.00 billion in shares. This repurchase authorization allows the oil and gas company to repurchase up to 21.7% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 10th. Stockholders of record on Thursday, February 16th were given a dividend of $1.51 per share. The ex-dividend date was Wednesday, February 15th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 3.70%. This is an increase from Chevron’s previous quarterly dividend of $1.42. Chevron’s dividend payout ratio (DPR) is presently 33.04%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on CVX shares. HSBC lifted their price objective on Chevron to $187.00 in a research report on Friday, December 2nd. StockNews.com initiated coverage on Chevron in a research note on Thursday, March 16th. They issued a “hold” rating for the company. Barclays raised their target price on Chevron from $196.00 to $212.00 and gave the company an “overweight” rating in a research note on Tuesday, January 3rd. Mizuho restated a “neutral” rating and issued a $206.00 target price on shares of Chevron in a research note on Friday, March 17th. Finally, Morgan Stanley cut their price target on Chevron from $195.00 to $192.00 and set an “equal weight” rating for the company in a research note on Monday, March 27th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $189.33.

Chevron Company Profile

(Get Rating)

Chevron Corp. engages in the provision of administrative, financial management, and technology support for energy and chemical operations. It operates through the Upstream and Downstream segments. The Upstream segment consists of the exploration, development, and production of crude oil and natural gas, the liquefaction, transportation, and regasification associated with liquefied natural gas, the transporting of crude oil by major international oil export pipelines, the processing, transporting, storage, and marketing of natural gas, and a gas-to-liquids plant.