tru Independence LLC Invests $5.17 Million in Chevron Co. (NYSE:CVX)

tru Independence LLC purchased a new stake in shares of Chevron Co. (NYSE:CVX) in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 32,749 shares of the oil and gas company’s stock, valued at approximately $5,166,000.

A number of other large investors have also added to or reduced their stakes in CVX. Pacifica Partners Inc. boosted its stake in Chevron by 1.8% during the first quarter. Pacifica Partners Inc. now owns 3,492 shares of the oil and gas company’s stock worth $546,000 after acquiring an additional 63 shares in the last quarter. Ellenbecker Investment Group grew its stake in shares of Chevron by 1.5% in the 1st quarter. Ellenbecker Investment Group now owns 4,346 shares of the oil and gas company’s stock worth $686,000 after buying an additional 65 shares during the last quarter. Mayfair Advisory Group LLC increased its position in Chevron by 0.7% during the 1st quarter. Mayfair Advisory Group LLC now owns 9,407 shares of the oil and gas company’s stock valued at $1,484,000 after buying an additional 65 shares in the last quarter. MCF Advisors LLC boosted its holdings in Chevron by 0.7% in the first quarter. MCF Advisors LLC now owns 9,437 shares of the oil and gas company’s stock worth $1,489,000 after acquiring an additional 66 shares in the last quarter. Finally, Octavia Wealth Advisors LLC grew its stake in shares of Chevron by 1.3% in the fourth quarter. Octavia Wealth Advisors LLC now owns 5,254 shares of the oil and gas company’s stock worth $784,000 after acquiring an additional 68 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CVX. Barclays began coverage on shares of Chevron in a research note on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 price target on the stock. Wells Fargo & Company boosted their price objective on shares of Chevron from $198.00 to $206.00 and gave the stock an “overweight” rating in a report on Tuesday, April 30th. Mizuho increased their target price on Chevron from $200.00 to $205.00 and gave the company a “buy” rating in a research note on Monday, May 13th. Truist Financial boosted their price target on Chevron from $156.00 to $166.00 and gave the stock a “hold” rating in a research note on Friday, May 10th. Finally, UBS Group increased their price objective on Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a research report on Tuesday, April 9th. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $186.95.

Chevron Trading Up 0.1 %

NYSE:CVX opened at $156.75 on Wednesday. The company has a current ratio of 1.23, a quick ratio of 0.93 and a debt-to-equity ratio of 0.13. The firm has a fifty day simple moving average of $159.11 and a 200-day simple moving average of $154.82. Chevron Co. has a 12 month low of $139.62 and a 12 month high of $171.70. The company has a market capitalization of $288.89 billion, a P/E ratio of 14.42, a PEG ratio of 2.38 and a beta of 1.10.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, beating analysts’ consensus estimates of $2.84 by $0.09. Chevron had a return on equity of 14.40% and a net margin of 10.21%. The business had revenue of $48.72 billion for the quarter, compared to analyst estimates of $48.42 billion. The company’s revenue was down 4.1% on a year-over-year basis. During the same period in the prior year, the company earned $3.55 earnings per share. On average, equities research analysts anticipate that Chevron Co. will post 13.15 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 17th were issued a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 4.16%. The ex-dividend date was Thursday, May 16th. Chevron’s payout ratio is 59.98%.

Insiders Place Their Bets

In other news, VP Alana K. Knowles sold 2,800 shares of the company’s stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $165.00, for a total value of $462,000.00. Following the sale, the vice president now owns 276 shares in the company, valued at $45,540. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Chevron news, Director Enrique Hernandez, Jr. sold 5,098 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $163.50, for a total value of $833,523.00. Following the sale, the director now directly owns 2,549 shares of the company’s stock, valued at $416,761.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $165.00, for a total value of $462,000.00. Following the transaction, the vice president now owns 276 shares in the company, valued at approximately $45,540. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,746 shares of company stock valued at $2,727,971. 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.