TruWealth Advisors LLC Purchases 3,378 Shares of Chevron Co. (NYSE:CVX)

TruWealth Advisors LLC raised its stake in shares of Chevron Co. (NYSE:CVX - Free Report) by 3.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 112,955 shares of the oil and gas company's stock after acquiring an additional 3,378 shares during the quarter. TruWealth Advisors LLC's holdings in Chevron were worth $18,896,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Geode Capital Management LLC raised its position in shares of Chevron by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 36,269,270 shares of the oil and gas company's stock valued at $5,247,142,000 after acquiring an additional 392,916 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Chevron by 2.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 31,855,566 shares of the oil and gas company's stock worth $4,613,960,000 after acquiring an additional 746,806 shares during the period. Norges Bank acquired a new stake in Chevron during the fourth quarter worth about $3,017,750,000. Northern Trust Corp lifted its holdings in Chevron by 7.3% in the fourth quarter. Northern Trust Corp now owns 20,471,800 shares of the oil and gas company's stock worth $2,965,135,000 after acquiring an additional 1,394,091 shares during the last quarter. Finally, Fisher Asset Management LLC boosted its stake in Chevron by 2.1% in the fourth quarter. Fisher Asset Management LLC now owns 19,892,848 shares of the oil and gas company's stock valued at $2,881,280,000 after acquiring an additional 410,460 shares during the period. Institutional investors and hedge funds own 72.42% of the company's stock.

Analyst Upgrades and Downgrades

CVX has been the subject of a number of recent research reports. TD Cowen lowered their price objective on Chevron from $155.00 to $150.00 and set a "hold" rating for the company in a research note on Monday, May 5th. BNP Paribas downgraded shares of Chevron to a "cautious" rating in a research report on Tuesday, April 15th. Piper Sandler reduced their target price on shares of Chevron from $173.00 to $162.00 and set an "overweight" rating for the company in a research note on Tuesday, May 13th. HSBC lowered Chevron from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $176.00 to $158.00 in a report on Tuesday, May 13th. Finally, Hsbc Global Res downgraded Chevron from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Chevron presently has a consensus rating of "Hold" and an average price target of $160.24.

Chevron Stock Performance

Shares of CVX stock traded down $0.55 during trading on Thursday, reaching $136.82. The company had a trading volume of 6,335,522 shares, compared to its average volume of 8,112,455. The firm's 50 day simple moving average is $140.16 and its two-hundred day simple moving average is $150.11. Chevron Co. has a one year low of $132.04 and a one year high of $168.96. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The company has a market capitalization of $238.95 billion, a PE ratio of 14.08, a PEG ratio of 1.46 and a beta of 0.83.

Chevron (NYSE:CVX - Get Free Report) last announced its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, topping the consensus estimate of $2.15 by $0.03. The firm had revenue of $47.61 billion for the quarter, compared to the consensus estimate of $49.05 billion. Chevron had a net margin of 8.71% and a return on equity of 11.44%. The business's quarterly revenue was down 2.3% on a year-over-year basis. During the same quarter last year, the firm posted $2.93 EPS. Sell-side analysts forecast that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Monday, May 19th will be paid a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 5.00%. The ex-dividend date of this dividend is Monday, May 19th. Chevron's payout ratio is presently 78.17%.

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.