Heirloom Wealth Management Trims Stake in Chevron Corporation $CVX

Heirloom Wealth Management trimmed its stake in Chevron Corporation (NYSE:CVX) by 27.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,545 shares of the oil and gas company’s stock after selling 578 shares during the period. Heirloom Wealth Management’s holdings in Chevron were worth $221,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Ignite Planners LLC increased its stake in shares of Chevron by 14.1% in the 1st quarter. Ignite Planners LLC now owns 12,316 shares of the oil and gas company’s stock worth $2,060,000 after purchasing an additional 1,519 shares in the last quarter. Vista Capital Partners Inc. increased its stake in shares of Chevron by 9.1% in the 1st quarter. Vista Capital Partners Inc. now owns 5,938 shares of the oil and gas company’s stock worth $993,000 after purchasing an additional 495 shares in the last quarter. Oregon Public Employees Retirement Fund increased its stake in shares of Chevron by 0.5% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 143,914 shares of the oil and gas company’s stock worth $24,075,000 after purchasing an additional 675 shares in the last quarter. Capital Advisors Inc. OK increased its stake in shares of Chevron by 0.3% in the 1st quarter. Capital Advisors Inc. OK now owns 569,258 shares of the oil and gas company’s stock worth $95,231,000 after purchasing an additional 1,755 shares in the last quarter. Finally, GW&K Investment Management LLC increased its stake in shares of Chevron by 33.8% in the 1st quarter. GW&K Investment Management LLC now owns 1,260 shares of the oil and gas company’s stock worth $211,000 after purchasing an additional 318 shares in the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Stock Down 0.6%

Shares of NYSE:CVX opened at $155.63 on Friday. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $168.96. The company has a 50-day moving average price of $156.04 and a 200 day moving average price of $148.46. The company has a market cap of $268.92 billion, a price-to-earnings ratio of 20.03, a PEG ratio of 4.42 and a beta of 0.84.

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

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th were given a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date of this dividend was Tuesday, August 19th. Chevron’s dividend payout ratio is 88.03%.

Insider Transactions at Chevron

In related news, VP Alana K. Knowles sold 3,978 shares of the 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 sale, the vice president directly owned 1,181 shares of the company’s stock, valued at $188,960. This represents a 77.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John B. Hess sold 375,000 shares of the stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $158.30, for a total transaction of $59,362,500.00. Following the completion of the sale, the director directly owned 1,403,045 shares in the company, valued at $222,102,023.50. This trade represents a 21.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Barclays dropped their target price on shares of Chevron from $160.00 to $158.00 and set an “equal weight” rating for the company in a report on Tuesday, October 7th. Mizuho decreased their price target on Chevron from $192.00 to $191.00 and set an “outperform” rating on the stock in a report on Monday, September 15th. Jefferies Financial Group reissued a “buy” rating on shares of Chevron in a report on Friday, July 18th. Scotiabank raised their price target on Chevron from $160.00 to $165.00 and gave the company a “sector perform” rating in a report on Thursday, October 9th. Finally, Evercore ISI reissued an “outperform” rating and set a $180.00 price target on shares of Chevron in a report on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, Chevron presently has a consensus rating of “Hold” and a consensus price target of $165.25.

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.