TruNorth Capital Management LLC Sells 885 Shares of Chevron Corporation $CVX

TruNorth Capital Management LLC trimmed its holdings in shares of Chevron Corporation (NYSE:CVX) by 38.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,436 shares of the oil and gas company’s stock after selling 885 shares during the period. TruNorth Capital Management LLC’s holdings in Chevron were worth $206,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CVX. Apella Capital LLC grew its holdings in Chevron by 21.6% during the 1st quarter. Apella Capital LLC now owns 10,477 shares of the oil and gas company’s stock worth $1,753,000 after acquiring an additional 1,859 shares in the last quarter. Amplius Wealth Advisors LLC lifted its position in shares of Chevron by 6.0% during the first quarter. Amplius Wealth Advisors LLC now owns 3,379 shares of the oil and gas company’s stock valued at $565,000 after buying an additional 192 shares during the last quarter. McAlister Sweet & Associates Inc. purchased a new stake in shares of Chevron during the first quarter valued at about $258,000. Accel Wealth Management lifted its position in shares of Chevron by 1.8% during the first quarter. Accel Wealth Management now owns 6,498 shares of the oil and gas company’s stock valued at $1,087,000 after buying an additional 114 shares during the last quarter. Finally, Lakeshore Capital Group Inc. lifted its position in shares of Chevron by 2.1% during the first quarter. Lakeshore Capital Group Inc. now owns 4,337 shares of the oil and gas company’s stock valued at $726,000 after buying an additional 88 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Chevron news, Director John B. Hess sold 375,000 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $158.30, for a total transaction of $59,362,500.00. Following the completion of the transaction, the director directly owned 1,403,045 shares of the company’s stock, valued at approximately $222,102,023.50. This trade represents a 21.09% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Alana K. Knowles sold 3,978 shares of the firm’s stock in a transaction that occurred 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 transaction, 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. Company insiders own 0.21% of the company’s stock.

Chevron Stock Performance

Shares of Chevron stock opened at $154.64 on Thursday. The firm has a market capitalization of $267.21 billion, a P/E ratio of 19.90, a PEG ratio of 1.97 and a beta of 0.84. 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 has a 50 day moving average price of $156.31 and a 200 day moving average price of $149.17. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $168.96.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, beating the consensus estimate of $1.58 by $0.19. The firm had revenue of $44.82 billion during the quarter, compared to analyst estimates of $44.59 billion. Chevron had a net margin of 7.02% and a return on equity of 9.90%. Chevron’s revenue was down 12.4% on a year-over-year basis. During the same period last year, the firm posted $2.55 EPS. Sell-side analysts expect that Chevron Corporation will post 10.79 EPS for the current 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 given a dividend of $1.71 per share. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $6.84 dividend on an annualized basis and a yield of 4.4%. Chevron’s dividend payout ratio (DPR) is currently 88.03%.

Analysts Set New Price Targets

CVX has been the subject of several analyst reports. Melius initiated coverage on shares of Chevron in a research report on Wednesday, August 20th. They set a “hold” rating and a $155.00 price target for the company. Bank of America increased their price target on shares of Chevron from $170.00 to $185.00 and gave the company a “buy” rating in a research report on Wednesday, September 10th. TD Cowen increased their price target on shares of Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a research report on Monday, August 4th. Wells Fargo & Company reissued an “overweight” rating and set a $178.00 price target on shares of Chevron in a research report on Friday, August 1st. Finally, Jefferies Financial Group reissued a “buy” rating on shares of Chevron in a research report on Friday, July 18th. Eleven equities research 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. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $165.05.

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.