Heritage Wealth Advisors Sells 706 Shares of Chevron Co. (NYSE:CVX)

Heritage Wealth Advisors trimmed its holdings in shares of Chevron Co. (NYSE:CVX) by 6.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,435 shares of the oil and gas company’s stock after selling 706 shares during the quarter. Heritage Wealth Advisors’ holdings in Chevron were worth $1,511,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Graney & King LLC purchased a new stake in Chevron in the fourth quarter valued at approximately $59,000. Core Wealth Partners LLC increased its holdings in shares of Chevron by 3.7% in the 4th quarter. Core Wealth Partners LLC now owns 8,912 shares of the oil and gas company’s stock worth $1,291,000 after buying an additional 316 shares during the last quarter. Ausdal Financial Partners Inc. raised its position in shares of Chevron by 88.7% during the 4th quarter. Ausdal Financial Partners Inc. now owns 12,990 shares of the oil and gas company’s stock valued at $1,881,000 after buying an additional 6,107 shares in the last quarter. Mizuho Securities Co. Ltd. bought a new stake in shares of Chevron during the 4th quarter worth $29,000. Finally, TrueMark Investments LLC grew its position in Chevron by 9.3% in the fourth quarter. TrueMark Investments LLC now owns 24,728 shares of the oil and gas company’s stock worth $3,582,000 after acquiring an additional 2,098 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on CVX. Barclays lowered their price target on Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. Raymond James dropped their target price on Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research report on Monday, February 3rd. Royal Bank of Canada reissued an “outperform” rating and set a $175.00 price target on shares of Chevron in a research note on Monday, February 3rd. UBS Group cut their price objective on shares of Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a research note on Monday, February 3rd. Finally, Citigroup upgraded shares of Chevron from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $145.00 to $185.00 in a research report on Tuesday, November 26th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $174.13.

Chevron Stock Performance

Shares of CVX stock opened at $165.93 on Wednesday. The firm has a market capitalization of $292.14 billion, a price-to-earnings ratio of 17.07, a PEG ratio of 1.46 and a beta of 1.08. The stock has a fifty day moving average of $156.67 and a 200 day moving average of $153.01. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.82. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last announced its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share 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 quarter in the prior year, the business posted $3.45 EPS. As a group, research analysts expect that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were given a $1.71 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $6.84 annualized dividend and a dividend yield of 4.12%. This is a positive change from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio is currently 70.37%.

Insider Activity

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the stock in a transaction 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 completion of the transaction, the vice president now owns 1,057 shares in the company, valued at approximately $161,192.50. This represents a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.20% of the stock is currently owned by company 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.