TFR Capital LLC. Buys Shares of 4,584 Chevron Corporation $CVX

TFR Capital LLC. bought a new position in Chevron Corporation (NYSE:CVX) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 4,584 shares of the oil and gas company’s stock, valued at approximately $760,000.

A number of other large investors have also made changes to their positions in the company. Indivisible Partners bought a new position in shares of Chevron in the fourth quarter worth approximately $1,923,000. Janney Montgomery Scott LLC increased its stake in shares of Chevron by 6.8% in the first quarter. Janney Montgomery Scott LLC now owns 1,251,102 shares of the oil and gas company’s stock worth $258,853,000 after purchasing an additional 79,439 shares in the last quarter. Galaxy Digital Inc. bought a new stake in shares of Chevron during the 1st quarter valued at $2,028,000. Osprey Private Wealth LLC raised its position in shares of Chevron by 556.4% during the 4th quarter. Osprey Private Wealth LLC now owns 9,190 shares of the oil and gas company’s stock valued at $1,401,000 after purchasing an additional 7,790 shares during the period. Finally, World Investment Advisors lifted its stake in shares of Chevron by 24.2% during the 4th quarter. World Investment Advisors now owns 85,213 shares of the oil and gas company’s stock valued at $12,987,000 after buying an additional 16,596 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on CVX. Bank of America upped their target price on shares of Chevron from $210.00 to $227.00 and gave the stock a “buy” rating in a report on Tuesday, July 28th. Weiss Ratings raised Chevron from a “hold (c)” rating to a “buy (b)” rating in a report on Tuesday. Morgan Stanley lowered their price objective on Chevron from $214.00 to $210.00 and set an “overweight” rating on the stock in a research report on Monday, June 29th. Piper Sandler began coverage on Chevron in a research note on Thursday, July 23rd. They issued an “overweight” rating and a $207.00 price objective for the company. Finally, TD Cowen increased their target price on Chevron from $200.00 to $205.00 and gave the stock a “hold” rating in a research report on Wednesday, August 5th. Twenty equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $207.48.

Chevron Price Performance

CVX stock opened at $199.99 on Friday. Chevron Corporation has a one year low of $146.49 and a one year high of $214.71. The company’s fifty day moving average price is $183.30 and its 200-day moving average price is $186.88. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.98 and a current ratio of 1.25. The company has a market capitalization of $395.13 billion, a PE ratio of 19.17, a price-to-earnings-growth ratio of 0.61 and a beta of 0.49.

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

Chevron Dividend Announcement

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

Insider Activity

In other Chevron news, Director John B. Hess sold 710,665 shares of the stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $194.10, for a total transaction of $137,940,076.50. Following the completion of the transaction, the director owned 363,711 shares of the company’s stock, valued at $70,596,305.10. This represents a 66.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael K. Wirth sold 5,547 shares of the firm’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $187.00, for a total value of $1,037,289.00. Following 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 disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,196,212 shares of company stock valued at $231,819,366 in the last three months. Insiders own 0.56% of the company’s stock.

Chevron Company 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.