Chevron Corporation $CVX Shares Purchased by Heartwood Wealth Advisors LLC

Key Points

• Heartwood Wealth Advisors LLC has increased its stake in Chevron Corporation by 23.7%, owning a total of 8,378 shares valued at approximately $1.2 million.
• Chevron recently declared a quarterly dividend of $1.71 per share, with a dividend yield of 4.4% and a payout ratio of 88.03%.
• Chevron's stock price opened at $157.23, with a market cap of $271.69 billion and a recent earnings report showcasing $1.77 EPS, exceeding analysts' expectations.

Heartwood Wealth Advisors LLC grew its holdings in shares of Chevron Corporation (NYSE:CVX - Free Report) by 23.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,378 shares of the oil and gas company's stock after purchasing an additional 1,605 shares during the period. Heartwood Wealth Advisors LLC's holdings in Chevron were worth $1,200,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Bank Pictet & Cie Europe AG grew its holdings in shares of Chevron by 7.9% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 35,985 shares of the oil and gas company's stock worth $5,212,000 after purchasing an additional 2,641 shares during the period. Raiffeisen Bank International AG purchased a new position in shares of Chevron during the 4th quarter valued at approximately $258,000. Sherbrooke Park Advisers LLC purchased a new position in shares of Chevron during the 4th quarter valued at approximately $389,000. Tang Capital Management LLC acquired a new stake in shares of Chevron during the 4th quarter valued at approximately $866,000. Finally, Strive Asset Management LLC acquired a new stake in shares of Chevron during the 4th quarter valued at approximately $474,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Stock Performance

Shares of CVX stock traded up $2.25 during trading on Tuesday, hitting $159.56. The company's stock had a trading volume of 8,008,054 shares, compared to its average volume of 7,495,309. The business has a fifty day moving average of $154.87 and a 200-day moving average of $148.78. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $168.96. The company has a market cap of $275.72 billion, a PE ratio of 18.46, a P/E/G ratio of 1.97 and a beta of 0.90. 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 (NYSE:CVX - Get Free Report) 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, topping analysts' consensus estimates of $1.58 by $0.19. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The firm had revenue of $44.82 billion during the quarter, compared to analysts' expectations of $44.59 billion. During the same period in the prior year, the business earned $2.55 EPS. The company's revenue for the quarter was down 12.4% compared to the same quarter last year. As a group, research analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were paid a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.3%. The ex-dividend date was Tuesday, August 19th. Chevron's dividend payout ratio is 88.03%.

Insiders Place Their Bets

In other Chevron 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 transaction of $636,480.00. Following the completion of the transaction, the vice president 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 Securities & Exchange Commission, which is available at the SEC website. Also, Director John B. Hess sold 375,000 shares of the stock in a transaction dated 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 directly owned 1,403,045 shares of the company's stock, valued at approximately $222,102,023.50. The trade was a 21.09% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.20% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on CVX shares. Wells Fargo & Company reaffirmed an "overweight" rating and set a $178.00 target price on shares of Chevron in a research note on Friday, August 1st. Jefferies Financial Group reissued a "buy" rating on shares of Chevron in a research report on Friday, July 18th. Scotiabank reaffirmed a "sector perform" rating and issued a $160.00 price target (up previously from $143.00) on shares of Chevron in a research note on Friday, July 11th. Evercore ISI restated an "outperform" rating and set a $180.00 target price on shares of Chevron in a research report on Thursday, July 31st. Finally, Melius Research initiated coverage on Chevron in a research report on Wednesday, August 20th. They set a "hold" rating and a $155.00 price objective for the company. Eleven analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $165.05.

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.