tru Independence LLC Sells 183 Shares of Chevron Co. (NYSE:CVX)

tru Independence LLC cut its holdings in Chevron Co. (NYSE:CVX) by 0.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 32,566 shares of the oil and gas company’s stock after selling 183 shares during the period. Chevron makes up 1.5% of tru Independence LLC’s portfolio, making the stock its 29th largest position. tru Independence LLC’s holdings in Chevron were worth $5,094,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in CVX. Eagle Capital Management LLC grew its position in Chevron by 0.5% during the 1st quarter. Eagle Capital Management LLC now owns 34,455 shares of the oil and gas company’s stock worth $5,435,000 after acquiring an additional 163 shares during the last quarter. Lane & Associates LLC bought a new position in shares of Chevron in the first quarter worth approximately $345,000. Seven Mile Advisory increased its stake in shares of Chevron by 9.8% in the fourth quarter. Seven Mile Advisory now owns 2,766 shares of the oil and gas company’s stock worth $413,000 after buying an additional 247 shares during the period. KCM Investment Advisors LLC raised its holdings in Chevron by 2.5% during the 1st quarter. KCM Investment Advisors LLC now owns 331,550 shares of the oil and gas company’s stock valued at $52,299,000 after buying an additional 8,168 shares during the last quarter. Finally, Livelsberger Financial Advisory purchased a new stake in Chevron during the 4th quarter valued at $46,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Trading Down 1.7 %

NYSE:CVX opened at $138.56 on Friday. Chevron Co. has a one year low of $137.87 and a one year high of $171.70. The business has a fifty day moving average price of $150.82 and a 200-day moving average price of $155.26. The firm has a market capitalization of $253.42 billion, a price-to-earnings ratio of 12.75, a price-to-earnings-growth ratio of 2.40 and a beta of 1.09. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing the consensus estimate of $2.93 by ($0.38). The company had revenue of $51.18 billion during the quarter, compared to the consensus estimate of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period last year, the business earned $3.08 EPS. Sell-side analysts forecast that Chevron Co. will post 11.86 EPS for the current year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th will be paid a $1.63 dividend. The ex-dividend date is Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.71%. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CVX. Wolfe Research initiated coverage on shares of Chevron in a research report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Scotiabank lowered their price target on Chevron from $195.00 to $180.00 and set a “sector outperform” rating for the company in a research report on Friday, July 12th. Royal Bank of Canada cut their price objective on Chevron from $190.00 to $180.00 and set an “outperform” rating on the stock in a research report on Monday, August 5th. Mizuho upped their target price on Chevron from $200.00 to $205.00 and gave the company a “buy” rating in a report on Monday, May 13th. Finally, Truist Financial lowered their price objective on shares of Chevron from $156.00 to $154.00 and set a “hold” rating for the company in a report on Monday, August 5th. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $183.82.

Chevron Company 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.