True North Advisors LLC Sells 3,880 Shares of Chevron Co. (NYSE:CVX)

True North Advisors LLC cut its holdings in Chevron Co. (NYSE:CVXFree Report) by 26.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,678 shares of the oil and gas company’s stock after selling 3,880 shares during the period. True North Advisors LLC’s holdings in Chevron were worth $1,593,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CVX. Windsor Advisory Group LLC boosted its position in shares of Chevron by 24.0% during the third quarter. Windsor Advisory Group LLC now owns 3,720 shares of the oil and gas company’s stock valued at $627,000 after buying an additional 720 shares during the period. Dechtman Wealth Management LLC purchased a new position in Chevron in the 2nd quarter worth about $648,000. Renaissance Investment Group LLC lifted its holdings in Chevron by 12.7% during the 4th quarter. Renaissance Investment Group LLC now owns 6,187 shares of the oil and gas company’s stock valued at $923,000 after buying an additional 697 shares in the last quarter. Altrius Capital Management Inc boosted its position in Chevron by 2.1% in the 3rd quarter. Altrius Capital Management Inc now owns 21,333 shares of the oil and gas company’s stock valued at $3,597,000 after buying an additional 434 shares during the period. Finally, Tsfg LLC grew its stake in Chevron by 5.3% in the 3rd quarter. Tsfg LLC now owns 3,473 shares of the oil and gas company’s stock worth $586,000 after acquiring an additional 176 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on CVX. Mizuho lifted their price target on shares of Chevron from $195.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. TD Cowen downgraded Chevron from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $170.00 to $150.00 in a report on Tuesday, January 23rd. UBS Group dropped their target price on shares of Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a report on Thursday, December 14th. Piper Sandler lowered their price target on shares of Chevron from $188.00 to $180.00 and set an “overweight” rating for the company in a research report on Thursday, March 14th. Finally, Jefferies Financial Group raised shares of Chevron from a “hold” rating to a “buy” rating and set a $184.00 price objective on the stock in a report on Monday, January 8th. Seven equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, Chevron presently has a consensus rating of “Moderate Buy” and an average target price of $180.39.

Read Our Latest Analysis on Chevron

Chevron Stock Up 0.8 %

NYSE:CVX opened at $159.03 on Tuesday. The company has a current ratio of 1.27, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. Chevron Co. has a twelve month low of $139.62 and a twelve month high of $172.88. The company has a market cap of $295.36 billion, a PE ratio of 14.00, a P/E/G ratio of 2.42 and a beta of 1.12. The company’s 50 day moving average is $152.23 and its two-hundred day moving average is $152.47.

Chevron (NYSE:CVXGet Free Report) last announced its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share for the quarter, beating analysts’ consensus estimates of $3.19 by $0.26. The firm had revenue of $47.18 billion for the quarter, compared to analyst estimates of $50.93 billion. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The business’s quarterly revenue was down 16.5% compared to the same quarter last year. During the same period in the previous year, the company earned $4.09 earnings per share. Analysts anticipate that Chevron Co. will post 13.04 EPS for the current year.

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Friday, February 16th were paid a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 4.10%. This is a boost from Chevron’s previous quarterly dividend of $1.51. The ex-dividend date of this dividend was Thursday, February 15th. Chevron’s dividend payout ratio (DPR) is presently 57.39%.

Chevron Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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