Heritage Wealth Management Inc. Has $3.74 Million Stock Holdings in Chevron Co. (NYSE:CVX)

Heritage Wealth Management Inc. cut its holdings in shares of Chevron Co. (NYSE:CVX) by 2.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 25,391 shares of the oil and gas company’s stock after selling 579 shares during the period. Chevron comprises approximately 1.2% of Heritage Wealth Management Inc.’s investment portfolio, making the stock its 13th biggest position. Heritage Wealth Management Inc.’s holdings in Chevron were worth $3,739,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Comprehensive Financial Consultants Institutional Inc. raised its position in shares of Chevron by 1.8% during the third quarter. Comprehensive Financial Consultants Institutional Inc. now owns 10,716 shares of the oil and gas company’s stock worth $1,578,000 after acquiring an additional 185 shares during the last quarter. Summit Global Investments grew its stake in Chevron by 26.1% during the third quarter. Summit Global Investments now owns 5,784 shares of the oil and gas company’s stock valued at $852,000 after acquiring an additional 1,197 shares in the last quarter. Smith Thornton Advisors LLC lifted its holdings in shares of Chevron by 2.2% during the 3rd quarter. Smith Thornton Advisors LLC now owns 3,936 shares of the oil and gas company’s stock worth $580,000 after acquiring an additional 85 shares during the last quarter. Lewis Asset Management LLC lifted its holdings in shares of Chevron by 11.5% in the 3rd quarter. Lewis Asset Management LLC now owns 2,464 shares of the oil and gas company’s stock worth $363,000 after acquiring an additional 255 shares during the last quarter. Finally, Hudson Value Partners LLC increased its stake in Chevron by 2.4% in the 3rd quarter. Hudson Value Partners LLC now owns 37,543 shares of the oil and gas company’s stock worth $5,529,000 after purchasing an additional 864 shares during the period. 72.42% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CVX. Bank of America began coverage on shares of Chevron in a research note on Thursday, October 17th. They set a “buy” rating and a $168.00 price objective for the company. Royal Bank of Canada boosted their price objective on Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a report on Monday. UBS Group raised their price target on Chevron from $192.00 to $194.00 and gave the stock a “buy” rating in a report on Monday. Scotiabank cut their price target on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Finally, Sanford C. Bernstein cut Chevron from an “outperform” rating to a “market perform” rating and cut their price target for the company from $183.00 to $167.00 in a report on Wednesday, July 17th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, Chevron currently has an average rating of “Moderate Buy” and a consensus price target of $174.93.

Chevron Trading Down 0.1 %

Shares of CVX traded down $0.18 on Friday, hitting $156.59. 254,730 shares of the stock traded hands, compared to its average volume of 7,637,234. The firm has a market capitalization of $286.39 billion, a P/E ratio of 17.22, a P/E/G ratio of 3.53 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 1 year low of $135.37 and a 1 year high of $167.11. The stock’s 50 day moving average is $147.43 and its two-hundred day moving average is $152.90.

Chevron (NYSE:CVX) last released its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.47 by $0.04. The business had revenue of $50.67 billion for the quarter, compared to analysts’ expectations of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.07%. The company’s quarterly revenue was down 6.3% on a year-over-year basis. During the same period last year, the company earned $3.05 earnings per share. As a group, sell-side analysts predict that Chevron Co. will post 10.59 earnings per share for the current year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 18th will be issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 4.16%. The ex-dividend date is Monday, November 18th. Chevron’s payout ratio is currently 71.65%.

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.