TrueMark Investments LLC Purchases 2,419 Shares of Chevron Corporation $CVX

TrueMark Investments LLC raised its position in Chevron Corporation (NYSE:CVX) by 8.8% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 29,802 shares of the oil and gas company’s stock after acquiring an additional 2,419 shares during the period. TrueMark Investments LLC’s holdings in Chevron were worth $4,267,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. Harvest Fund Management Co. Ltd raised its stake in shares of Chevron by 420.7% during the 1st quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 122 shares in the last quarter. Elequin Capital LP bought a new stake in shares of Chevron during the 1st quarter worth approximately $31,000. Cloud Capital Management LLC bought a new stake in shares of Chevron during the 1st quarter worth approximately $39,000. Investment Management Corp VA ADV raised its stake in shares of Chevron by 171.3% during the 1st quarter. Investment Management Corp VA ADV now owns 236 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 149 shares in the last quarter. Finally, GFG Capital LLC bought a new stake in shares of Chevron during the 2nd quarter worth approximately $42,000. Institutional investors own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

CVX has been the topic of a number of analyst reports. Piper Sandler upped their price objective on Chevron from $164.00 to $168.00 and gave the stock an “overweight” rating in a research note on Monday, August 18th. Morgan Stanley assumed coverage on Chevron in a research note on Monday, August 4th. They issued an “overweight” rating and a $174.00 price target on the stock. 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 on the stock. Barclays dropped their price target on Chevron from $160.00 to $158.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 7th. Finally, Bank of America increased 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 research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, Chevron has a consensus rating of “Hold” and an average target price of $165.25.

Insiders Place Their Bets

In other Chevron news, VP Alana K. Knowles sold 3,978 shares of the company’s stock in a transaction 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 transaction, 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 sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director John B. Hess sold 375,000 shares of the company’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $158.30, for a total value of $59,362,500.00. Following the completion of the transaction, the director directly owned 1,403,045 shares in the company, valued at approximately $222,102,023.50. This represents a 21.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company’s stock.

Chevron Stock Performance

Shares of NYSE CVX opened at $153.12 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.00 and a quick ratio of 0.74. The stock’s fifty day moving average price is $156.03 and its two-hundred day moving average price is $148.02. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96. The firm has a market cap of $264.58 billion, a price-to-earnings ratio of 19.71, a P/E/G ratio of 2.01 and a beta of 0.84.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 EPS 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 firm had revenue of $44.82 billion for the quarter, compared to analyst estimates of $44.59 billion. During the same period in the prior year, the firm posted $2.55 EPS. The company’s revenue for the quarter was down 12.4% on a year-over-year basis. On average, equities analysts forecast that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date of this dividend was Tuesday, August 19th. Chevron’s dividend payout ratio is currently 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.