Montz Harcus Wealth Management LLC Has $401,000 Position in Chevron Corporation $CVX

Montz Harcus Wealth Management LLC reduced its holdings in Chevron Corporation (NYSE:CVX) by 4.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,801 shares of the oil and gas company’s stock after selling 122 shares during the period. Montz Harcus Wealth Management LLC’s holdings in Chevron were worth $401,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its stake in shares of Chevron by 5.0% during the 2nd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 49,955 shares of the oil and gas company’s stock worth $7,153,000 after purchasing an additional 2,396 shares during the last quarter. HighMark Wealth Management LLC increased its stake in shares of Chevron by 1,026.8% during the 2nd quarter. HighMark Wealth Management LLC now owns 631 shares of the oil and gas company’s stock worth $90,000 after purchasing an additional 575 shares during the last quarter. DHJJ Financial Advisors Ltd. increased its stake in shares of Chevron by 160.0% during the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 1,058 shares of the oil and gas company’s stock worth $151,000 after purchasing an additional 651 shares during the last quarter. Abundance Wealth Counselors increased its stake in shares of Chevron by 1.0% during the 2nd quarter. Abundance Wealth Counselors now owns 16,168 shares of the oil and gas company’s stock worth $2,340,000 after purchasing an additional 154 shares during the last quarter. Finally, Atwater Malick LLC increased its stake in shares of Chevron by 2.4% during the 2nd quarter. Atwater Malick LLC now owns 2,886 shares of the oil and gas company’s stock worth $413,000 after purchasing an additional 68 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Bank of America boosted their price objective on shares of Chevron from $170.00 to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, September 10th. UBS Group boosted their price objective on shares of Chevron from $186.00 to $197.00 and gave the stock a “buy” rating in a research note on Wednesday, August 20th. Scotiabank restated a “sector perform” rating and set a $160.00 price objective (up from $143.00) on shares of Chevron in a research note on Friday, July 11th. Melius started coverage on shares of Chevron in a report on Wednesday, August 20th. They set a “hold” rating and a $155.00 target price for the company. Finally, Evercore ISI reaffirmed an “outperform” rating and set a $180.00 target price on shares of Chevron in a report on Thursday, July 31st. Eleven research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $165.05.

Chevron Stock Performance

NYSE CVX opened at $153.59 on Friday. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $265.40 billion, a P/E ratio of 19.77, a P/E/G ratio of 1.98 and a beta of 0.84. Chevron Corporation has a 12-month low of $132.04 and a 12-month high of $168.96. The firm has a 50-day moving average price of $156.23 and a two-hundred day moving average price of $149.09.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.19. The firm had revenue of $44.82 billion during the quarter, compared to the consensus estimate of $44.59 billion. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The business’s revenue for the quarter was down 12.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.55 EPS. Analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were issued a $1.71 dividend. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $6.84 dividend on an annualized basis and a yield of 4.5%. Chevron’s payout ratio is currently 88.03%.

Insider Transactions at Chevron

In other Chevron news, VP Alana K. Knowles sold 3,978 shares of the business’s stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $160.00, for a total value of $636,480.00. Following the completion of the sale, the vice president owned 1,181 shares of the company’s stock, valued at $188,960. The trade was a 77.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director John B. Hess sold 375,000 shares of the business’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $158.30, for a total transaction of $59,362,500.00. Following the completion of the transaction, the director owned 1,403,045 shares of the company’s stock, valued at $222,102,023.50. The trade was a 21.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.

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.