Heritage Wealth Management Inc. Trims Stake in Chevron Co. (NYSE:CVX)

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

Several other institutional investors also recently bought and sold shares of CVX. Life Planning Partners Inc purchased a new position in Chevron during the 4th quarter worth $25,000. Rational Advisors LLC bought a new stake in Chevron during the 3rd quarter valued at $29,000. Legacy Investment Solutions LLC bought a new stake in Chevron during the 3rd quarter valued at $29,000. Darwin Wealth Management LLC bought a new stake in Chevron during the 3rd quarter valued at $30,000. Finally, RPg Family Wealth Advisory LLC bought a new stake in Chevron during the 3rd quarter valued at $31,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on CVX. Citigroup raised Chevron from a “neutral” rating to a “buy” rating and increased their target price for the company from $145.00 to $185.00 in a research report on Tuesday, November 26th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $175.00 target price on shares of Chevron in a research report on Monday, February 3rd. Barclays dropped their target price 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 on the stock in a research report on Monday, February 3rd. Finally, UBS Group lowered their price objective on Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a research report on Monday, February 3rd. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $174.13.

Insiders Place Their Bets

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of Chevron stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $152.50, for a total transaction 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 trade represents a 89.82 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.20% of the stock is currently owned by insiders.

Chevron Stock Performance

Shares of CVX opened at $158.59 on Friday. The stock has a 50-day moving average of $153.14 and a two-hundred day moving average of $151.49. Chevron Co. has a one year low of $135.37 and a one year high of $167.11. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The stock has a market cap of $279.21 billion, a P/E ratio of 16.32, a P/E/G ratio of 1.46 and a beta of 1.11.

Chevron (NYSE:CVX) last issued its quarterly earnings results 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 return on equity of 11.44% and a net margin of 8.71%. During the same period last year, the firm posted $3.45 EPS. As a group, research analysts predict that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

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

About Chevron

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.