Trueblood Wealth Management LLC Sells 67 Shares of Chevron Corporation $CVX

Trueblood Wealth Management LLC reduced its stake in Chevron Corporation (NYSE:CVX) by 0.4% in the second quarter, Holdings Channel.com reports. The fund owned 14,955 shares of the oil and gas company’s stock after selling 67 shares during the period. Chevron makes up approximately 0.9% of Trueblood Wealth Management LLC’s portfolio, making the stock its 17th biggest position. Trueblood Wealth Management LLC’s holdings in Chevron were worth $2,141,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in CVX. Kingstone Capital Partners Texas LLC boosted its stake in Chevron by 652,139.5% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 83,714,936 shares of the oil and gas company’s stock worth $13,214,757,000 after purchasing an additional 83,702,101 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Chevron by 4.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 33,430,030 shares of the oil and gas company’s stock worth $5,592,263,000 after buying an additional 1,574,464 shares in the last quarter. Invesco Ltd. boosted its position in shares of Chevron by 5.5% in the first quarter. Invesco Ltd. now owns 15,855,325 shares of the oil and gas company’s stock valued at $2,652,437,000 after acquiring an additional 827,851 shares during the period. Dimensional Fund Advisors LP grew its stake in Chevron by 0.3% during the first quarter. Dimensional Fund Advisors LP now owns 12,281,983 shares of the oil and gas company’s stock valued at $2,054,513,000 after acquiring an additional 40,758 shares in the last quarter. Finally, GQG Partners LLC bought a new stake in Chevron during the 1st quarter worth approximately $1,466,751,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Chevron

In other Chevron news, Director John B. Hess sold 375,000 shares of Chevron stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $158.30, for a total transaction of $59,362,500.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Alana K. Knowles sold 3,978 shares of the business’s stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $160.00, for a total transaction of $636,480.00. Following the completion of the sale, the vice president 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. Company insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on CVX. Wells Fargo & Company reissued an “overweight” rating and issued a $178.00 price target on shares of Chevron in a report on Friday, August 1st. Jefferies Financial Group reissued a “buy” rating on shares of Chevron in a research note on Friday, July 18th. Morgan Stanley began coverage on Chevron in a research note on Monday, August 4th. They issued an “overweight” rating and a $174.00 target price on the stock. UBS Group lifted their price target on Chevron from $186.00 to $197.00 and gave the company a “buy” rating in a research report on Wednesday, August 20th. Finally, Melius Research assumed coverage on Chevron in a report on Wednesday, August 20th. They set a “hold” rating and a $155.00 price objective for the company. Eleven investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, Chevron presently has a consensus rating of “Hold” and a consensus target price of $165.05.

Chevron Trading Up 0.3%

NYSE CVX opened at $153.99 on Tuesday. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16. The stock’s 50-day simple moving average is $156.19 and its two-hundred day simple moving average is $148.80. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96. The company has a market capitalization of $266.09 billion, a price-to-earnings ratio of 19.82, a PEG ratio of 1.99 and a beta of 0.84.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.19. The firm had revenue of $44.82 billion during the quarter, compared to analysts’ expectations of $44.59 billion. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The company’s revenue for the quarter was down 12.4% compared to the same quarter last year. During the same period in the prior year, the business earned $2.55 EPS. Research analysts forecast that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

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

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.