True North Advisors LLC Acquires 2,892 Shares of Chevron Corporation $CVX

True North Advisors LLC grew its holdings in Chevron Corporation (NYSE:CVX) by 26.8% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 13,701 shares of the oil and gas company’s stock after buying an additional 2,892 shares during the quarter. True North Advisors LLC’s holdings in Chevron were worth $2,835,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CVX. Cornerstone Advisory LLC increased its stake in Chevron by 0.9% in the first quarter. Cornerstone Advisory LLC now owns 5,625 shares of the oil and gas company’s stock valued at $1,164,000 after acquiring an additional 52 shares during the period. Compton Financial Group LLC raised its position in Chevron by 1.9% in the first quarter. Compton Financial Group LLC now owns 2,944 shares of the oil and gas company’s stock worth $609,000 after purchasing an additional 56 shares in the last quarter. Quantum Portfolio Management LLC lifted its stake in Chevron by 2.7% during the first quarter. Quantum Portfolio Management LLC now owns 2,101 shares of the oil and gas company’s stock worth $435,000 after purchasing an additional 56 shares during the period. D.B. Root & Company LLC lifted its stake in Chevron by 1.0% during the fourth quarter. D.B. Root & Company LLC now owns 5,552 shares of the oil and gas company’s stock worth $846,000 after purchasing an additional 57 shares during the period. Finally, Chatterton & Associates Inc. boosted its holdings in Chevron by 1.7% during the first quarter. Chatterton & Associates Inc. now owns 3,427 shares of the oil and gas company’s stock valued at $652,000 after purchasing an additional 57 shares in the last quarter. 72.42% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Chevron news, Director John B. Hess sold 380,000 shares of Chevron stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $193.20, for a total value of $73,416,000.00. Following the completion of the transaction, the director owned 278,045 shares in the company, valued at approximately $53,718,294. The trade was a 57.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.56% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CVX. Scotiabank upped their price objective on Chevron from $168.00 to $187.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 22nd. Zacks Research downgraded Chevron from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 8th. Weiss Ratings lowered Chevron from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, June 2nd. BNP Paribas Exane upgraded Chevron from a “neutral” rating to an “outperform” rating and set a $174.00 price target on the stock in a research report on Friday, April 17th. Finally, Sanford C. Bernstein dropped their price objective on Chevron from $216.00 to $204.00 and set a “market perform” rating for the company in a research note on Monday, May 11th. Nineteen equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $206.83.

Chevron Price Performance

NYSE:CVX opened at $187.39 on Friday. The company has a quick ratio of 0.84, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. The firm has a market cap of $373.21 billion, a PE ratio of 32.48, a price-to-earnings-growth ratio of 0.66 and a beta of 0.50. Chevron Corporation has a 12 month low of $146.49 and a 12 month high of $214.71. The company’s 50-day moving average price is $181.54 and its two-hundred day moving average price is $182.44.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.41. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The company had revenue of $47.56 billion during the quarter, compared to analyst estimates of $51.86 billion. During the same quarter last year, the business posted $2.18 earnings per share. The company’s revenue was up 2.1% on a year-over-year basis. On average, equities analysts anticipate that Chevron Corporation will post 14.78 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Tuesday, May 19th were issued a dividend of $1.78 per share. This represents a $7.12 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend was Tuesday, May 19th. Chevron’s dividend payout ratio (DPR) is currently 123.40%.

More Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron is expected to sign accords with Iraq to advance investments in major oil fields, including West Qurna 2 and Nassiriya, which could expand long-term production opportunities. Reuters article on Iraq oilfield MOUs
• Positive Sentiment: Reports that Chevron is exploring a pipeline alternative to the Strait of Hormuz suggest a potential way to boost Iraqi export capacity and lower shipping disruption risk, which investors may view as strategically important. The Motley Fool article on Hormuz bypass pipeline
• Positive Sentiment: Chevron is being highlighted as a relatively attractive long-term energy stock versus TotalEnergies because of its premium assets, strong balance sheet, and steadier earnings outlook. Yahoo Finance article comparing CVX and TTE
• Neutral Sentiment: Some commentary says Chevron stock looks closer to fairly valued after a strong five-year run, which may limit upside for investors expecting a clear bargain. Yahoo Finance article on valuation
• Neutral Sentiment: Chevron also benefited from broader energy-sector gains, with the sector rising even as the wider market was mixed. Yahoo Finance sector update

Chevron Company Profile

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.