Turtle Creek Wealth Advisors LLC Has $2.41 Million Stock Holdings in Chevron Corporation $CVX

Key Points

• Turtle Creek Wealth Advisors LLC increased its holdings in Chelsea Corporation (CVX) by 19.9% during Q2, bringing its total investment to approximately $2.41 million.
• Chevron's stock has received mixed ratings from analysts, with an average price target of $165.40 and eleven analysts rating it as a "Buy".
• The company declared a quarterly dividend of $1.71 per share, yielding around 4.5%, highlighting its commitment to returning value to shareholders.

Turtle Creek Wealth Advisors LLC boosted its position in Chevron Corporation (NYSE:CVX - Free Report) by 19.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 16,816 shares of the oil and gas company's stock after buying an additional 2,787 shares during the quarter. Turtle Creek Wealth Advisors LLC's holdings in Chevron were worth $2,408,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Harvest Fund Management Co. Ltd raised its position in Chevron by 420.7% in the 1st quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company's stock valued at $25,000 after buying an additional 122 shares during the last quarter. Elequin Capital LP acquired a new stake in Chevron in the 1st quarter valued at approximately $31,000. Cloud Capital Management LLC acquired a new stake in Chevron in the 1st quarter valued at approximately $39,000. Investment Management Corp VA ADV grew its stake in Chevron by 171.3% in the first quarter. Investment Management Corp VA ADV now owns 236 shares of the oil and gas company's stock valued at $39,000 after purchasing an additional 149 shares in the last quarter. Finally, GFG Capital LLC bought a new position in Chevron in the second quarter valued at approximately $42,000. Institutional investors and hedge funds own 72.42% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Wells Fargo & Company restated an "overweight" rating and issued a $178.00 price target on shares of Chevron in a research note on Friday, August 1st. Melius Research assumed coverage on Chevron in a research note on Wednesday, August 20th. They issued a "hold" rating and a $155.00 price target for the company. Evercore ISI restated an "outperform" rating and issued a $180.00 price target on shares of Chevron in a research note on Thursday, July 31st. Barclays decreased their price target on Chevron from $160.00 to $158.00 and set an "equal weight" rating for the company in a research note on Tuesday, October 7th. Finally, Bank of America raised their price target on Chevron from $170.00 to $185.00 and gave the company a "buy" rating in a research note on Wednesday, September 10th. Eleven equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, Chevron currently has a consensus rating of "Hold" and an average price target of $165.40.

Chevron Stock Performance

Shares of NYSE CVX opened at $151.99 on Thursday. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $168.96. The stock has a 50 day moving average of $156.10 and a 200-day moving average of $148.36. The company has a market capitalization of $262.63 billion, a P/E ratio of 19.56, a P/E/G ratio of 1.99 and a beta of 0.84.

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

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were paid a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 4.5%. The ex-dividend date was Tuesday, August 19th. Chevron's payout ratio is currently 88.03%.

Insider Activity at Chevron

In related news, Director John B. Hess sold 375,000 shares of Chevron stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $158.30, for a total transaction of $59,362,500.00. Following the completion of the sale, the director directly owned 1,403,045 shares of the company's stock, valued at approximately $222,102,023.50. This trade represents a 21.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Alana K. Knowles sold 3,978 shares of Chevron stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $160.00, for a total value of $636,480.00. Following the sale, the vice president directly owned 1,181 shares of the company's stock, valued at approximately $188,960. The trade was a 77.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.21% of the company's stock.

Chevron 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.

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