Heritage Financial Services LLC Purchases 1,212 Shares of Chevron Co. (NYSE:CVX)

Heritage Financial Services LLC lifted its position in shares of Chevron Co. (NYSE:CVX) by 59.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,246 shares of the oil and gas company’s stock after purchasing an additional 1,212 shares during the period. Heritage Financial Services LLC’s holdings in Chevron were worth $484,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in CVX. Picton Mahoney Asset Management acquired a new position in Chevron during the 3rd quarter worth about $26,000. Valley Forge Investment Consultants Inc. ADV lifted its stake in shares of Chevron by 80.0% in the third quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock worth $30,000 after acquiring an additional 80 shares during the period. Valued Wealth Advisors LLC bought a new stake in Chevron in the fourth quarter valued at approximately $33,000. Legacy Financial Group LLC acquired a new stake in Chevron during the 3rd quarter valued at approximately $43,000. Finally, Roble Belko & Company Inc raised its holdings in Chevron by 77.3% during the 4th quarter. Roble Belko & Company Inc now owns 344 shares of the oil and gas company’s stock worth $51,000 after purchasing an additional 150 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analysts Set New Price Targets

CVX has been the subject of several recent analyst reports. Truist Financial decreased their price objective on shares of Chevron from $168.00 to $156.00 and set a “hold” rating for the company in a research report on Friday, April 5th. TD Cowen lowered Chevron from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $170.00 to $150.00 in a research report on Tuesday, January 23rd. UBS Group upped their target price on Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a research report on Tuesday, April 9th. Raymond James lifted their target price on Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a report on Monday, April 15th. Finally, Barclays began coverage on Chevron in a report on Wednesday, April 10th. They set an “overweight” rating and a $203.00 price target on the stock. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $184.75.

Insider Activity

In related news, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total transaction of $448,252.00. Following the transaction, the vice president now directly owns 276 shares in the company, valued at $44,184.84. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.18% of the stock is currently owned by corporate insiders.

Chevron Price Performance

Shares of NYSE CVX opened at $165.89 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.27. The firm’s 50-day simple moving average is $156.58 and its 200 day simple moving average is $151.73. The stock has a market cap of $308.10 billion, a price-to-earnings ratio of 15.26, a PEG ratio of 2.44 and a beta of 1.12. Chevron Co. has a fifty-two week low of $139.62 and a fifty-two week high of $171.70.

Chevron (NYSE:CVX) last posted its earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, beating analysts’ consensus estimates of $2.84 by $0.09. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The company had revenue of $48.72 billion for the quarter, compared to analyst estimates of $48.42 billion. During the same quarter last year, the company earned $3.55 earnings per share. The company’s revenue for the quarter was down 4.1% on a year-over-year basis. As a group, research analysts anticipate that Chevron Co. will post 13.58 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 17th will be paid a $1.63 dividend. The ex-dividend date is Thursday, May 16th. This represents a $6.52 annualized dividend and a dividend yield of 3.93%. Chevron’s payout ratio is 59.98%.

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.