Heirloom Wealth Management Sells 266 Shares of Chevron Co. (NYSE:CVX)

Heirloom Wealth Management reduced its holdings in shares of Chevron Co. (NYSE:CVX) by 7.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,395 shares of the oil and gas company’s stock after selling 266 shares during the quarter. Heirloom Wealth Management’s holdings in Chevron were worth $506,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Picton Mahoney Asset Management bought a new stake in shares of Chevron during the 3rd quarter valued at $26,000. Valley Forge Investment Consultants Inc. ADV raised its stake in shares of Chevron by 80.0% during the 3rd quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock valued at $30,000 after purchasing an additional 80 shares during the period. Valued Wealth Advisors LLC bought a new stake in shares of Chevron during the 4th quarter valued at $33,000. Worth Asset Management LLC bought a new stake in shares of Chevron during the 1st quarter valued at $36,000. Finally, Legacy Financial Group LLC bought a new stake in shares of Chevron during the 3rd quarter valued at $43,000. 72.42% of the stock is currently owned by institutional investors.

Insider Activity

In other news, VP Alana K. Knowles sold 2,800 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total value of $448,252.00. Following the completion of the transaction, the vice president now owns 276 shares in the company, valued at approximately $44,184.84. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.18% of the stock is currently owned by company insiders.

Chevron Trading Up 1.5 %

NYSE CVX traded up $2.43 on Friday, hitting $160.00. The company’s stock had a trading volume of 7,592,840 shares, compared to its average volume of 8,519,150. Chevron Co. has a 52-week low of $139.62 and a 52-week high of $172.38. The company has a current ratio of 1.27, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. The company’s 50-day simple moving average is $155.44 and its 200 day simple moving average is $151.86. The firm has a market cap of $297.16 billion, a P/E ratio of 14.08, a PEG ratio of 2.36 and a beta of 1.12.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share for the quarter, topping the consensus estimate of $3.19 by $0.26. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The business had revenue of $47.18 billion during the quarter, compared to analysts’ expectations of $50.93 billion. During the same quarter last year, the business posted $4.09 EPS. The business’s revenue was down 16.5% on a year-over-year basis. Research analysts predict that Chevron Co. will post 13.27 EPS for the current fiscal year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Friday, February 16th were paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.08%. The ex-dividend date was Thursday, February 15th. This is a boost from Chevron’s previous quarterly dividend of $1.51. Chevron’s dividend payout ratio (DPR) is presently 57.39%.

Analyst Ratings Changes

CVX has been the topic of a number of research analyst reports. Piper Sandler upped their target price on Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a research note on Thursday. DZ Bank lowered Chevron from a “buy” rating to a “hold” rating and set a $160.00 target price on the stock. in a research note on Tuesday, February 6th. Mizuho upped their target price on Chevron from $195.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. Truist Financial reduced their price objective on Chevron from $168.00 to $156.00 and set a “hold” rating on the stock in a research report on Friday, April 5th. Finally, Scotiabank upgraded Chevron from a “sector perform” rating to a “sector outperform” rating and increased their price objective for the company from $170.00 to $195.00 in a research report on Thursday, April 11th. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $184.75.

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.