True North Advisors LLC Has $1.10 Million Stake in Chevron Co. (NYSE:CVX)

True North Advisors LLC lowered its position in shares of Chevron Co. (NYSE:CVX) by 27.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,489 shares of the oil and gas company’s stock after selling 2,766 shares during the quarter. True North Advisors LLC’s holdings in Chevron were worth $1,103,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in CVX. Eagle Capital Management LLC grew its position in shares of Chevron by 0.5% during the 1st quarter. Eagle Capital Management LLC now owns 34,455 shares of the oil and gas company’s stock worth $5,435,000 after buying an additional 163 shares during the period. Lane & Associates LLC acquired a new stake in Chevron in the first quarter worth $345,000. KCM Investment Advisors LLC increased its stake in Chevron by 2.5% in the first quarter. KCM Investment Advisors LLC now owns 331,550 shares of the oil and gas company’s stock valued at $52,299,000 after purchasing an additional 8,168 shares in the last quarter. Livelsberger Financial Advisory acquired a new position in shares of Chevron during the fourth quarter valued at about $46,000. Finally, Hosking Partners LLP bought a new position in shares of Chevron during the 1st quarter worth about $4,924,000. 72.42% of the stock is owned by institutional investors.

Chevron Stock Down 0.4 %

CVX stock opened at $148.10 on Wednesday. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $170.17. The stock has a market cap of $272.94 billion, a P/E ratio of 13.69, a P/E/G ratio of 2.72 and a beta of 1.09. The stock’s fifty day simple moving average is $145.66 and its two-hundred day simple moving average is $154.05. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). Chevron had a return on equity of 13.70% and a net margin of 9.31%. The company had revenue of $51.18 billion during the quarter, compared to analysts’ expectations of $48.68 billion. During the same period last year, the firm posted $3.08 earnings per share. Chevron’s quarterly revenue was up 4.7% compared to the same quarter last year. Analysts expect that Chevron Co. will post 11.09 EPS for the current year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.40%. The ex-dividend date of this dividend was Monday, August 19th. Chevron’s dividend payout ratio is currently 59.98%.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Barclays decreased their target price on Chevron from $185.00 to $168.00 and set an “overweight” rating for the company in a research report on Thursday, October 3rd. Wells Fargo & Company lowered their target price on Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a research report on Friday, September 27th. Mizuho reduced their price target on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research report on Monday, September 16th. Truist Financial lowered their price objective on shares of Chevron from $154.00 to $150.00 and set a “hold” rating on the stock in a report on Monday, September 30th. Finally, UBS Group lifted their price objective on shares of Chevron from $189.00 to $192.00 and gave the company a “buy” rating in a report on Tuesday. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $178.59.

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.