TruWealth Advisors LLC Has $4.01 Million Stock Holdings in Chevron Corporation $CVX

Key Points

• TruWealth Advisors LLC significantly reduced its holdings in Chevron Corporation by 75.2%, now owning 27,987 shares worth approximately $4.01 million.
• Wall Street analysts show mixed sentiment on Chevron, with eleven analysts$164.80.
• Chevron recently announced a quarterly dividend of $1.71 per share, equating to an annualized dividend yield of 4.4%.

TruWealth Advisors LLC lessened its holdings in Chevron Corporation (NYSE:CVX - Free Report) by 75.2% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 27,987 shares of the oil and gas company's stock after selling 84,968 shares during the period. TruWealth Advisors LLC's holdings in Chevron were worth $4,007,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of CVX. GDS Wealth Management boosted its stake in shares of Chevron by 4.4% during the first quarter. GDS Wealth Management now owns 1,706 shares of the oil and gas company's stock valued at $285,000 after purchasing an additional 72 shares during the period. AIMZ Investment Advisors LLC increased its holdings in shares of Chevron by 4.2% during the first quarter. AIMZ Investment Advisors LLC now owns 1,783 shares of the oil and gas company's stock valued at $298,000 after acquiring an additional 72 shares in the last quarter. Garde Capital Inc. increased its holdings in Chevron by 3.2% in the 2nd quarter. Garde Capital Inc. now owns 2,355 shares of the oil and gas company's stock worth $337,000 after buying an additional 72 shares during the period. Clayton Financial Group LLC increased its holdings in Chevron by 4.6% in the 1st quarter. Clayton Financial Group LLC now owns 1,702 shares of the oil and gas company's stock worth $285,000 after buying an additional 75 shares during the period. Finally, Gill Capital Partners LLC grew its stake in shares of Chevron by 4.9% during the 1st quarter. Gill Capital Partners LLC now owns 1,619 shares of the oil and gas company's stock worth $271,000 after purchasing an additional 75 shares during the period. 72.42% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Chevron news, Director John B. Hess sold 375,000 shares of the business's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $158.30, for a total value of $59,362,500.00. Following the completion of the sale, the director owned 1,403,045 shares of the company's stock, valued at $222,102,023.50. The trade was a 21.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Alana K. Knowles sold 3,978 shares of the business's stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $160.00, for a total value of $636,480.00. Following the completion of the sale, the vice president directly owned 1,181 shares of the company's stock, valued at $188,960. This represents a 77.11% decrease in their position. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on CVX shares. Bank of America raised their price objective on Chevron from $170.00 to $185.00 and gave the company a "buy" rating in a report on Wednesday. Wells Fargo & Company reiterated an "overweight" rating and set a $178.00 target price on shares of Chevron in a research report on Friday, August 1st. Raymond James Financial reiterated an "outperform" rating on shares of Chevron in a research report on Friday, August 1st. Melius Research started coverage on Chevron in a research note on Wednesday, August 20th. They set a "hold" rating and a $155.00 price target for the company. Finally, Morgan Stanley began coverage on Chevron in a report on Monday, August 4th. They issued an "overweight" rating and a $174.00 price target for the company. Eleven equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat.com, Chevron presently has an average rating of "Hold" and an average price target of $164.80.

Chevron Price Performance

Shares of NYSE CVX traded down $1.02 during mid-day trading on Friday, reaching $157.23. The company had a trading volume of 5,545,397 shares, compared to its average volume of 7,652,500. Chevron Corporation has a 1-year low of $132.04 and a 1-year high of $168.96. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16. The stock has a market cap of $271.69 billion, a PE ratio of 20.24, a P/E/G ratio of 1.98 and a beta of 0.90. The company has a 50-day moving average price of $154.67 and a two-hundred day moving average price of $148.85.

Chevron (NYSE:CVX - Get Free Report) last issued its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, beating analysts' consensus estimates of $1.58 by $0.19. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The business had revenue of $44.82 billion for the quarter, compared to the consensus estimate of $44.59 billion. During the same quarter in the previous year, the company posted $2.55 earnings per share. Chevron's revenue for the quarter was down 12.4% compared to the same quarter last year. On average, equities analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th were given a dividend of $1.71 per share. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $6.84 dividend on an annualized basis and a yield of 4.4%. Chevron's dividend payout ratio (DPR) is presently 88.03%.

About Chevron

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.