True Wealth Design LLC Sells 5,201 Shares of Chevron Co. (NYSE:CVX)

True Wealth Design LLC cut its stake in shares of Chevron Co. (NYSE:CVX) by 96.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 184 shares of the oil and gas company’s stock after selling 5,201 shares during the period. True Wealth Design LLC’s holdings in Chevron were worth $27,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Morton Community Bank grew its position in shares of Chevron by 1.8% during the 3rd quarter. Morton Community Bank now owns 25,957 shares of the oil and gas company’s stock valued at $3,823,000 after purchasing an additional 458 shares in the last quarter. Semmax Financial Advisors Inc. boosted its stake in Chevron by 2.6% during the third quarter. Semmax Financial Advisors Inc. now owns 5,343 shares of the oil and gas company’s stock valued at $830,000 after buying an additional 134 shares during the period. Cobblestone Capital Advisors LLC NY grew its position in Chevron by 3.2% during the third quarter. Cobblestone Capital Advisors LLC NY now owns 28,623 shares of the oil and gas company’s stock worth $4,215,000 after buying an additional 883 shares in the last quarter. Encompass More Asset Management increased its stake in Chevron by 70.1% in the 3rd quarter. Encompass More Asset Management now owns 2,974 shares of the oil and gas company’s stock worth $438,000 after acquiring an additional 1,226 shares during the last quarter. Finally, L.M. Kohn & Company raised its holdings in shares of Chevron by 4.1% in the 3rd quarter. L.M. Kohn & Company now owns 7,407 shares of the oil and gas company’s stock valued at $1,091,000 after acquiring an additional 290 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on CVX. Mizuho decreased their price objective on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. UBS Group increased their price target on shares of Chevron from $192.00 to $194.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Barclays upped their target price on shares of Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Royal Bank of Canada raised their price target on Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Finally, Truist Financial upped their price objective on Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a report on Monday, November 4th. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $175.56.

Chevron Stock Performance

Shares of NYSE:CVX opened at $162.21 on Tuesday. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The company has a 50-day moving average price of $153.36 and a 200-day moving average price of $152.46. The company has a market cap of $291.51 billion, a price-to-earnings ratio of 17.83, a price-to-earnings-growth ratio of 3.58 and a beta of 1.10. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $167.11.

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

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 4.02%. The ex-dividend date is Monday, November 18th. Chevron’s payout ratio is currently 71.65%.

Insiders Place Their Bets

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

Chevron Company 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.