Heritage Wealth Management Inc. CA Purchases 554 Shares of Chevron Co. (NYSE:CVX)

Heritage Wealth Management Inc. CA boosted its position in shares of Chevron Co. (NYSE:CVX) by 43.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,842 shares of the oil and gas company’s stock after buying an additional 554 shares during the quarter. Heritage Wealth Management Inc. CA’s holdings in Chevron were worth $267,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. State Street Corp increased its stake in shares of Chevron by 0.6% during the third quarter. State Street Corp now owns 159,105,244 shares of the oil and gas company’s stock valued at $23,431,429,000 after buying an additional 874,962 shares during the period. Nicholas Company Inc. raised its holdings in Chevron by 4.3% in the 4th quarter. Nicholas Company Inc. now owns 80,025 shares of the oil and gas company’s stock worth $11,591,000 after purchasing an additional 3,280 shares in the last quarter. Dale Q Rice Investment Management Ltd purchased a new stake in shares of Chevron in the 4th quarter worth about $594,000. Unified Investment Management bought a new stake in shares of Chevron during the 4th quarter valued at about $729,000. Finally, ING Groep NV increased its position in shares of Chevron by 3,942.6% during the fourth quarter. ING Groep NV now owns 200,998 shares of the oil and gas company’s stock valued at $29,113,000 after buying an additional 196,026 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on the stock. Raymond James lowered their price objective on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a report on Monday, February 3rd. Piper Sandler reduced their price target on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Royal Bank of Canada reissued an “outperform” rating and set a $175.00 price objective on shares of Chevron in a research report on Monday, February 3rd. Barclays reduced their target price on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. Finally, Truist Financial lowered their price target on shares of Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research report on Tuesday, February 4th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Chevron has an average rating of “Moderate Buy” and an average price target of $174.13.

Insider Buying and Selling

In related news, VP Jeff B. Gustavson sold 9,325 shares of Chevron 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 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 legal filing with the SEC, which is available at this link. 0.20% of the stock is currently owned by corporate insiders.

Chevron Stock Up 0.2 %

Chevron stock opened at $165.10 on Tuesday. The firm has a market cap of $290.68 billion, a price-to-earnings ratio of 16.99, a PEG ratio of 1.46 and a beta of 1.08. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $167.11. The stock has a fifty day simple moving average of $156.49 and a two-hundred day simple moving average of $152.81.

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 the consensus estimate 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 in the prior year, the company earned $3.45 earnings per share. Equities analysts predict that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were given a dividend of $1.71 per share. This is an increase from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend was Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a yield of 4.14%. Chevron’s dividend payout ratio is 70.37%.

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.