Trifecta Capital Advisors LLC Makes New Investment in Chevron Corporation $CVX

Trifecta Capital Advisors LLC acquired a new position in shares of Chevron Corporation (NYSE:CVX) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 4,384 shares of the oil and gas company’s stock, valued at approximately $727,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in CVX. Midwest Capital Advisors LLC acquired a new stake in Chevron in the 1st quarter worth about $25,000. Core Wealth Advisors LLC purchased a new stake in Chevron in the 4th quarter valued at about $26,000. Phillip James Consulting Co. acquired a new position in shares of Chevron during the 4th quarter valued at about $26,000. Basso Capital Management L.P. acquired a new position in shares of Chevron during the 4th quarter valued at about $27,000. Finally, Karpus Management Inc. purchased a new position in shares of Chevron during the 4th quarter worth about $27,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on CVX. Zacks Research downgraded shares of Chevron from a “strong-buy” rating to a “hold” rating in a report on Monday, June 8th. UBS Group reaffirmed a “buy” rating on shares of Chevron in a research note on Tuesday, June 23rd. Sanford C. Bernstein lifted their price target on shares of Chevron from $204.00 to $209.00 and gave the company a “market perform” rating in a report on Monday, August 3rd. Jefferies Financial Group reissued a “buy” rating and set a $216.00 price objective on shares of Chevron in a research note on Friday, July 10th. Finally, Wall Street Zen upgraded Chevron from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Twenty investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $207.48.

Insider Buying and Selling at Chevron

In other news, CEO Michael K. Wirth sold 5,547 shares of the firm’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $187.00, for a total value of $1,037,289.00. Following the transaction, the chief executive officer owned 26,308 shares of the company’s stock, valued at approximately $4,919,596. This trade represents a 17.41% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John B. Hess sold 100,000 shares of Chevron stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $194.26, for a total transaction of $19,426,000.00. Following the transaction, the director owned 178,045 shares in the company, valued at $34,587,021.70. The trade was a 35.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 1,196,212 shares of company stock valued at $231,819,366 in the last three months. Company insiders own 0.56% of the company’s stock.

Chevron Stock Performance

NYSE CVX opened at $199.99 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.25 and a quick ratio of 0.98. Chevron Corporation has a 1-year low of $146.49 and a 1-year high of $214.71. The firm has a market capitalization of $395.13 billion, a P/E ratio of 19.17, a P/E/G ratio of 0.60 and a beta of 0.49. The business’s 50-day simple moving average is $183.30 and its 200-day simple moving average is $186.88.

Chevron (NYSE:CVX) last posted its earnings results on Friday, July 31st. The oil and gas company reported $6.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.55 by $0.51. Chevron had a net margin of 9.57% and a return on equity of 11.09%. The firm had revenue of $67.20 billion during the quarter, compared to the consensus estimate of $62.72 billion. During the same quarter in the prior year, the company earned $1.77 EPS. The company’s revenue was up 57.4% on a year-over-year basis. Equities analysts predict that Chevron Corporation will post 15.86 EPS for the current year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th will be paid a dividend of $1.78 per share. This represents a $7.12 annualized dividend and a yield of 3.6%. The ex-dividend date is Wednesday, August 19th. Chevron’s payout ratio is currently 68.26%.

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.