Heritage Oak Wealth Advisors LLC Acquires New Shares in Chevron Co. (NYSE:CVX)

Heritage Oak Wealth Advisors LLC purchased a new stake in Chevron Co. (NYSE:CVX) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 1,447 shares of the oil and gas company’s stock, valued at approximately $210,000.

A number of other institutional investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its stake in Chevron by 11.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 31,108,760 shares of the oil and gas company’s stock valued at $4,581,137,000 after acquiring an additional 3,203,899 shares during the last quarter. RPG Investment Advisory LLC grew its holdings in shares of Chevron by 3.4% during the 3rd quarter. RPG Investment Advisory LLC now owns 121,167 shares of the oil and gas company’s stock worth $17,844,000 after purchasing an additional 3,933 shares in the last quarter. State Street Corp raised its position in shares of Chevron by 0.6% in the 3rd 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 in the last quarter. LPL Financial LLC raised its holdings in shares of Chevron by 5.7% during the 3rd quarter. LPL Financial LLC now owns 3,147,686 shares of the oil and gas company’s stock worth $463,560,000 after buying an additional 171,089 shares in the last quarter. Finally, Dale Q Rice Investment Management Ltd bought a new position in shares of Chevron in the fourth quarter worth about $594,000. 72.42% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $152.50, for a total value of $1,422,062.50. Following the transaction, the vice president now directly owns 1,057 shares of the company’s stock, valued at $161,192.50. This trade represents a 89.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.20% of the stock is owned by corporate insiders.

Chevron Trading Down 0.9 %

Shares of NYSE CVX opened at $154.99 on Thursday. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11. The business has a fifty day simple moving average of $152.52 and a two-hundred day simple moving average of $151.31. The firm has a market cap of $278.53 billion, a PE ratio of 15.95, a price-to-earnings-growth ratio of 1.46 and a beta of 1.11. 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 released its quarterly 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 firm earned $3.45 earnings per share. Analysts expect that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be given a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 4.41%. The ex-dividend date of this dividend is Friday, February 14th. This is a positive change from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio is currently 70.37%.

Analysts Set New Price Targets

Several research firms have recently weighed in on CVX. Truist Financial reduced their price target on Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a report on Tuesday, February 4th. Wells Fargo & Company decreased their target price on Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Raymond James reduced their target price on Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research note on Monday, February 3rd. Barclays dropped their price objective on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 5th. Finally, Citigroup raised Chevron from a “neutral” rating to a “buy” rating and increased their price target for the company from $145.00 to $185.00 in a research report on Tuesday, November 26th. 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, the stock currently has an average rating of “Moderate Buy” and an average target price of $174.13.

Chevron 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.