Heritage Wealth Management Inc. Cuts Position in Chevron Co. (NYSE:CVX)

Heritage Wealth Management Inc. lessened its holdings in Chevron Co. (NYSE:CVX) by 0.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,216 shares of the oil and gas company’s stock after selling 175 shares during the period. Chevron comprises about 1.2% of Heritage Wealth Management Inc.’s portfolio, making the stock its 14th largest holding. Heritage Wealth Management Inc.’s holdings in Chevron were worth $3,652,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Capital Wealth Planning LLC increased its stake in shares of Chevron by 6.2% in the 4th quarter. Capital Wealth Planning LLC now owns 2,189,879 shares of the oil and gas company’s stock valued at $317,182,000 after purchasing an additional 128,218 shares in the last quarter. Onefund LLC increased its stake in shares of Chevron by 2.6% in the 4th quarter. Onefund LLC now owns 4,585 shares of the oil and gas company’s stock valued at $664,000 after purchasing an additional 117 shares in the last quarter. Nixon Peabody Trust Co. increased its stake in shares of Chevron by 13.8% in the 4th quarter. Nixon Peabody Trust Co. now owns 82,496 shares of the oil and gas company’s stock valued at $11,949,000 after purchasing an additional 9,974 shares in the last quarter. Middleton & Co. Inc. MA increased its stake in shares of Chevron by 0.7% in the 4th quarter. Middleton & Co. Inc. MA now owns 20,982 shares of the oil and gas company’s stock valued at $3,039,000 after purchasing an additional 148 shares in the last quarter. Finally, Jacobi Capital Management LLC increased its stake in shares of Chevron by 2.2% in the 4th quarter. Jacobi Capital Management LLC now owns 37,450 shares of the oil and gas company’s stock valued at $5,424,000 after purchasing an additional 798 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on CVX. Piper Sandler lowered their price objective on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Royal Bank of Canada reiterated an “outperform” rating and issued a $175.00 price objective on shares of Chevron in a report on Monday, February 3rd. UBS Group lowered their price objective on Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a report on Monday, February 3rd. Barclays lowered their price objective on Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Finally, Raymond James lowered their price objective on Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a report on Monday, February 3rd. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Chevron has a consensus rating of “Moderate Buy” and an average price target of $174.13.

Chevron Trading Up 1.2 %

CVX opened at $158.59 on Friday. Chevron Co. has a one year low of $135.37 and a one year high of $167.11. The stock has a market capitalization of $279.21 billion, a PE ratio of 16.32, a P/E/G ratio of 1.46 and a beta of 1.11. The business’s 50 day moving average price is $153.14 and its 200 day moving average price is $151.49. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.36). Chevron had a net margin of 8.71% and a return on equity of 11.44%. During the same period last year, the firm earned $3.45 earnings per share. As a group, equities research analysts expect that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be issued a $1.71 dividend. The ex-dividend date of this dividend is Friday, February 14th. This is a boost from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a yield of 4.31%. Chevron’s dividend payout ratio is currently 70.37%.

Insider Activity at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $152.50, for a total value of $1,422,062.50. Following the sale, the vice president now owns 1,057 shares of the company’s stock, valued at $161,192.50. The trade was a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.20% of the stock is currently owned by insiders.

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.