Heritage Wealth Management Inc. Sells 112 Shares of Chevron Corporation (NYSE:CVX)

Heritage Wealth Management Inc. reduced its position in shares of Chevron Corporation (NYSE:CVX) by 0.4% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 25,104 shares of the oil and gas company’s stock after selling 112 shares during the quarter. Chevron accounts for about 1.4% of Heritage Wealth Management Inc.’s investment portfolio, making the stock its 12th biggest holding. Heritage Wealth Management Inc.’s holdings in Chevron were worth $4,200,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Envestnet Asset Management Inc. increased its stake in Chevron by 2.2% during the 1st quarter. Envestnet Asset Management Inc. now owns 4,771,285 shares of the oil and gas company’s stock valued at $798,188,000 after purchasing an additional 104,184 shares in the last quarter. Hexagon Capital Partners LLC increased its stake in Chevron by 5.0% during the 1st quarter. Hexagon Capital Partners LLC now owns 11,324 shares of the oil and gas company’s stock valued at $1,894,000 after purchasing an additional 542 shares in the last quarter. Drake & Associates LLC increased its stake in Chevron by 19.0% during the 1st quarter. Drake & Associates LLC now owns 3,352 shares of the oil and gas company’s stock valued at $561,000 after purchasing an additional 536 shares in the last quarter. Penserra Capital Management LLC increased its stake in Chevron by 17.6% during the 1st quarter. Penserra Capital Management LLC now owns 5,155 shares of the oil and gas company’s stock valued at $862,000 after purchasing an additional 773 shares in the last quarter. Finally, Traveka Wealth LLC increased its stake in Chevron by 9.7% during the 1st quarter. Traveka Wealth LLC now owns 2,813 shares of the oil and gas company’s stock valued at $471,000 after purchasing an additional 249 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. DZ Bank downgraded shares of Chevron from a “buy” rating to a “sell” rating and set a $130.00 price target on the stock. in a report on Tuesday, May 6th. Scotiabank downgraded shares of Chevron from a “sector outperform” rating to a “sector perform” rating and dropped their price target for the company from $160.00 to $143.00 in a report on Friday, April 11th. Piper Sandler raised their price target on shares of Chevron from $162.00 to $164.00 and gave the company an “overweight” rating in a report on Wednesday, July 2nd. Mizuho dropped their price target on shares of Chevron from $188.00 to $186.00 and set an “outperform” rating on the stock in a report on Tuesday, May 13th. Finally, Redburn Atlantic reaffirmed a “sell” rating and set a $124.00 price target (down previously from $156.00) on shares of Chevron in a report on Wednesday, April 23rd. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $160.41.

Chevron Price Performance

NYSE CVX opened at $148.23 on Monday. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $168.96. The stock has a market cap of $258.86 billion, a price-to-earnings ratio of 16.94, a PEG ratio of 2.51 and a beta of 0.83. The company’s 50 day moving average is $141.16 and its two-hundred day moving average is $148.15. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.17.

Chevron (NYSE:CVX) last released its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, topping analysts’ consensus estimates of $2.15 by $0.03. Chevron had a net margin of 7.76% and a return on equity of 10.73%. The company had revenue of $47.61 billion for the quarter, compared to analysts’ expectations of $49.05 billion. During the same quarter last year, the business earned $2.93 EPS. The firm’s revenue was down 2.3% compared to the same quarter last year. As a group, research analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 4.61%. The ex-dividend date of this dividend was Monday, May 19th. Chevron’s payout ratio is currently 78.17%.

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.