TrueWealth Advisors LLC Sells 191 Shares of Chevron Corporation $CVX

TrueWealth Advisors LLC cut its position in shares of Chevron Corporation (NYSE:CVX) by 1.7% during the 2nd quarter, Holdings Channel.com reports. The firm owned 11,193 shares of the oil and gas company’s stock after selling 191 shares during the period. TrueWealth Advisors LLC’s holdings in Chevron were worth $1,603,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. GQG Partners LLC bought a new position in shares of Chevron in the 1st quarter worth approximately $1,466,751,000. Nuveen LLC bought a new position in Chevron during the 1st quarter valued at approximately $1,362,232,000. GAMMA Investing LLC increased its holdings in shares of Chevron by 21,191.5% in the 1st quarter. GAMMA Investing LLC now owns 5,408,248 shares of the oil and gas company’s stock worth $904,746,000 after purchasing an additional 5,382,847 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Chevron by 4.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 33,430,030 shares of the oil and gas company’s stock worth $5,592,263,000 after acquiring an additional 1,574,464 shares during the period. Finally, Canada Pension Plan Investment Board grew its holdings in shares of Chevron by 141.2% in the first quarter. Canada Pension Plan Investment Board now owns 1,891,824 shares of the oil and gas company’s stock worth $316,483,000 after acquiring an additional 1,107,628 shares during the period. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Trading Down 0.6%

Shares of Chevron stock opened at $157.23 on Friday. Chevron Corporation has a 52-week low of $132.04 and a 52-week high of $168.96. The firm has a market cap of $271.69 billion, a price-to-earnings ratio of 20.24, a price-to-earnings-growth ratio of 2.00 and a beta of 0.90. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16. The company’s 50-day simple moving average is $154.67 and its 200-day simple moving average is $148.85.

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

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th were given a $1.71 dividend. The ex-dividend date was Tuesday, August 19th. This represents a $6.84 annualized dividend and a yield of 4.4%. Chevron’s dividend payout ratio (DPR) is currently 88.03%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on CVX shares. Morgan Stanley assumed coverage on Chevron in a research report on Monday, August 4th. They issued an “overweight” rating and a $174.00 price objective on the stock. Piper Sandler boosted their price target on Chevron from $164.00 to $168.00 and gave the company an “overweight” rating in a report on Monday, August 18th. Evercore ISI reaffirmed an “outperform” rating and set a $180.00 price target on shares of Chevron in a research report on Thursday, July 31st. UBS Group increased their price target on Chevron from $186.00 to $197.00 and gave the stock a “buy” rating in a research report on Wednesday, August 20th. Finally, Barclays reissued an “equal weight” rating on shares of Chevron in a research note on Tuesday, July 15th. Eleven investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $164.80.

Insider Activity

In other Chevron news, Director John B. Hess sold 375,000 shares of Chevron stock in a transaction that occurred 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 in the company, 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Alana K. Knowles sold 3,978 shares of the company’s stock in a transaction on Friday, August 29th. The shares were sold at an average price of $160.00, for a total transaction of $636,480.00. Following the transaction, the vice president owned 1,181 shares of the company’s stock, valued at approximately $188,960. The trade was a 77.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by company insiders.

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.