Heartwood Wealth Advisors LLC Grows Stock Position in Chevron Co. (NYSE:CVX)

Heartwood Wealth Advisors LLC raised its position in Chevron Co. (NYSE:CVX) by 4.4% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 6,187 shares of the oil and gas company’s stock after buying an additional 263 shares during the quarter. Heartwood Wealth Advisors LLC’s holdings in Chevron were worth $911,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of CVX. Eagle Capital Management LLC grew its stake in shares of Chevron by 0.5% during the 1st quarter. Eagle Capital Management LLC now owns 34,455 shares of the oil and gas company’s stock worth $5,435,000 after purchasing an additional 163 shares during the period. Lane & Associates LLC acquired a new position in Chevron during the first quarter worth about $345,000. KCM Investment Advisors LLC increased its holdings in Chevron by 2.5% in the first quarter. KCM Investment Advisors LLC now owns 331,550 shares of the oil and gas company’s stock valued at $52,299,000 after buying an additional 8,168 shares in the last quarter. Livelsberger Financial Advisory acquired a new stake in shares of Chevron during the 4th quarter valued at approximately $46,000. Finally, Hosking Partners LLP purchased a new stake in shares of Chevron during the 1st quarter worth approximately $4,924,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CVX. UBS Group dropped their price objective on Chevron from $192.00 to $189.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Royal Bank of Canada dropped their price target on Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a research report on Monday, August 5th. Barclays decreased their price objective on shares of Chevron from $185.00 to $168.00 and set an “overweight” rating on the stock in a research report on Thursday, October 3rd. Mizuho dropped their target price on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a report on Monday, September 16th. Finally, Sanford C. Bernstein downgraded shares of Chevron from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $183.00 to $167.00 in a report on Wednesday, July 17th. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $179.00.

Chevron Price Performance

CVX stock opened at $151.14 on Tuesday. The stock has a market capitalization of $278.55 billion, a price-to-earnings ratio of 13.90, a price-to-earnings-growth ratio of 2.72 and a beta of 1.09. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $170.17. The stock’s fifty day simple moving average is $145.99 and its 200-day simple moving average is $154.11.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing the consensus estimate of $2.93 by ($0.38). The business had revenue of $51.18 billion during the quarter, compared to analysts’ expectations of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter last year, the firm earned $3.08 EPS. Equities research analysts expect that Chevron Co. will post 11.09 EPS for the current year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 4.31%. The ex-dividend date was Monday, August 19th. Chevron’s dividend payout ratio is currently 59.98%.

About Chevron

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.