Stonehearth Capital Management LLC Sells 140 Shares of Chevron Co. (NYSE:CVX)

Stonehearth Capital Management LLC reduced its stake in Chevron Co. (NYSE:CVX) by 8.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,483 shares of the oil and gas company’s stock after selling 140 shares during the period. Stonehearth Capital Management LLC’s holdings in Chevron were worth $233,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of CVX. Moneta Group Investment Advisors LLC raised its stake in Chevron by 104,997.3% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 24,490,824 shares of the oil and gas company’s stock worth $4,395,858,000 after buying an additional 24,467,521 shares in the last quarter. Norges Bank bought a new position in Chevron in the fourth quarter worth about $3,058,235,000. Commonwealth Equity Services LLC raised its stake in Chevron by 908.4% in the first quarter. Commonwealth Equity Services LLC now owns 11,450,777 shares of the oil and gas company’s stock worth $186,830,000 after buying an additional 10,315,292 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Chevron by 76.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 23,667,484 shares of the oil and gas company’s stock worth $3,839,241,000 after buying an additional 10,257,980 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in Chevron by 79.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 13,896,009 shares of the oil and gas company’s stock worth $2,494,194,000 after buying an additional 6,133,227 shares in the last quarter. 68.87% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CVX has been the topic of a number of recent research reports. Piper Sandler cut their price objective on shares of Chevron from $196.00 to $188.00 in a report on Tuesday, June 13th. Royal Bank of Canada upgraded shares of Chevron from a “sector perform” rating to an “outperform” rating and upped their price objective for the stock from $165.00 to $180.00 in a report on Thursday, June 1st. The Goldman Sachs Group upgraded shares of Chevron from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $166.00 to $187.00 in a report on Monday, July 31st. UBS Group upped their price objective on shares of Chevron from $202.00 to $209.00 and gave the stock a “buy” rating in a report on Thursday, August 17th. Finally, Morgan Stanley upped their price objective on shares of Chevron from $197.00 to $198.00 and gave the stock an “equal weight” rating in a report on Friday, August 18th. Seven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $190.28.

Insiders Place Their Bets

In other Chevron news, CFO Pierre R. Breber sold 25,000 shares of the stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $164.00, for a total value of $4,100,000.00. Following the transaction, the chief financial officer now directly owns 6,021 shares in the company, valued at $987,444. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Chevron news, VP Jeff B. Gustavson sold 3,750 shares of the stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $160.88, for a total value of $603,300.00. Following the transaction, the vice president now directly owns 1,718 shares in the company, valued at $276,391.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Pierre R. Breber sold 25,000 shares of the firm’s stock in a transaction on Friday, August 11th. The shares were sold at an average price of $164.00, for a total transaction of $4,100,000.00. Following the sale, the chief financial officer now owns 6,021 shares in the company, valued at $987,444. The disclosure for this sale can be found here. Insiders own 0.18% of the company’s stock.

Chevron Trading Down 0.4 %

Shares of CVX stock opened at $166.50 on Friday. Chevron Co. has a 12-month low of $140.46 and a 12-month high of $189.68. The company has a current ratio of 1.43, a quick ratio of 1.13 and a debt-to-equity ratio of 0.13. The firm’s 50 day moving average is $160.56 and its 200 day moving average is $160.15. The stock has a market capitalization of $310.90 billion, a P/E ratio of 10.56, a P/E/G ratio of 0.89 and a beta of 1.18.

Chevron (NYSE:CVX) last issued its earnings results on Friday, July 28th. The oil and gas company reported $3.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.95 by $0.13. Chevron had a net margin of 13.54% and a return on equity of 19.48%. The company had revenue of $48.90 billion for the quarter, compared to analysts’ expectations of $48 billion. During the same quarter last year, the company posted $5.82 earnings per share. The firm’s quarterly revenue was down 28.9% on a year-over-year basis. Research analysts expect that Chevron Co. will post 13.23 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 11th. Shareholders of record on Friday, August 18th were given a $1.51 dividend. The ex-dividend date was Thursday, August 17th. This represents a $6.04 annualized dividend and a yield of 3.63%. Chevron’s payout ratio is presently 38.30%.

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; liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and processing, transportation, storage, and marketing of natural gas, as well as a gas-to-liquids plant.