Truvestments Capital LLC Buys New Shares in Chevron Co. (NYSE:CVX)

Truvestments Capital LLC purchased a new stake in shares of Chevron Co. (NYSE:CVX) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,219 shares of the oil and gas company’s stock, valued at approximately $180,000.

Several other large investors have also recently added to or reduced their stakes in the company. Marietta Wealth Management LLC lifted its position in Chevron by 10.9% in the third quarter. Marietta Wealth Management LLC now owns 40,484 shares of the oil and gas company’s stock worth $5,962,000 after purchasing an additional 3,965 shares during the period. Leo Wealth LLC lifted its holdings in shares of Chevron by 19.6% during the 3rd quarter. Leo Wealth LLC now owns 8,246 shares of the oil and gas company’s stock worth $1,214,000 after acquiring an additional 1,354 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Chevron by 11.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 31,108,760 shares of the oil and gas company’s stock valued at $4,581,137,000 after acquiring an additional 3,203,899 shares in the last quarter. RPG Investment Advisory LLC increased its stake in Chevron by 3.4% in the third quarter. RPG Investment Advisory LLC now owns 121,167 shares of the oil and gas company’s stock valued at $17,844,000 after acquiring an additional 3,933 shares during the period. Finally, Garner Asset Management Corp raised its position in Chevron by 14.5% in the second quarter. Garner Asset Management Corp now owns 19,997 shares of the oil and gas company’s stock worth $3,128,000 after purchasing an additional 2,530 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Trading Up 1.3 %

CVX stock opened at $162.50 on Wednesday. The business has a fifty day moving average of $152.32 and a 200-day moving average of $152.49. The company has a market cap of $292.03 billion, a P/E ratio of 17.86, a PEG ratio of 3.54 and a beta of 1.09. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last released its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The company had revenue of $50.67 billion for the quarter, compared to the consensus estimate of $48.86 billion. During the same period in the prior year, the company posted $3.05 EPS. The company’s revenue was down 6.3% compared to the same quarter last year. As a group, equities research analysts expect that Chevron Co. will post 10.53 EPS for the current year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 4.01%. The ex-dividend date is Monday, November 18th. Chevron’s dividend payout ratio is presently 71.65%.

Insiders Place Their Bets

In other news, CEO Michael K. Wirth sold 164,600 shares of the firm’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total value of $26,357,398.00. Following the transaction, the chief executive officer now directly owns 4,280 shares in the company, valued at $685,356.40. This trade represents a 97.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

CVX has been the topic of several analyst reports. Barclays upped their price objective on Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. UBS Group upped their price target on Chevron from $192.00 to $194.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Mizuho cut their price objective on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a report on Monday, September 16th. Wells Fargo & Company lowered their target price on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a report on Friday, September 27th. Finally, DZ Bank raised shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target for the company in a report on Tuesday, November 5th. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, Chevron has an average rating of “Moderate Buy” and an average target price of $175.56.

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.