Chevron Co. (NYSE:CVX) Shares Sold by Eads & Heald Wealth Management

Eads & Heald Wealth Management trimmed its holdings in Chevron Co. (NYSE:CVX) by 8.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,961 shares of the oil and gas company’s stock after selling 1,233 shares during the period. Eads & Heald Wealth Management’s holdings in Chevron were worth $2,082,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Picton Mahoney Asset Management purchased a new position in Chevron during the third quarter worth about $26,000. Valley Forge Investment Consultants Inc. ADV grew its position in Chevron by 80.0% in the third quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock worth $30,000 after acquiring an additional 80 shares during the period. DHJJ Financial Advisors Ltd. acquired a new stake in Chevron during the third quarter worth $35,000. Valued Wealth Advisors LLC purchased a new stake in Chevron in the fourth quarter valued at $33,000. Finally, Worth Asset Management LLC purchased a new position in shares of Chevron during the 1st quarter worth $36,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Stock Performance

Shares of CVX traded down $1.68 during midday trading on Tuesday, reaching $155.91. 973,230 shares of the stock were exchanged, compared to its average volume of 8,536,177. The company has a market capitalization of $289.57 billion, a price-to-earnings ratio of 13.87, a PEG ratio of 2.40 and a beta of 1.12. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.27 and a quick ratio of 1.01. Chevron Co. has a twelve month low of $139.62 and a twelve month high of $172.54. The business’s 50-day moving average price is $155.03 and its 200 day moving average price is $151.92.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $3.45 EPS for the quarter, beating the consensus estimate of $3.19 by $0.26. The firm had revenue of $47.18 billion during the quarter, compared to the consensus estimate of $50.93 billion. Chevron had a net margin of 10.63% and a return on equity of 15.24%. Chevron’s revenue for the quarter was down 16.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.09 EPS. On average, sell-side analysts expect that Chevron Co. will post 13.24 EPS for the current fiscal year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Friday, February 16th were given a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 4.18%. The ex-dividend date of this dividend was Thursday, February 15th. This is a boost from Chevron’s previous quarterly dividend of $1.51. Chevron’s payout ratio is 57.39%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on CVX shares. UBS Group boosted their price target on shares of Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a research note on Tuesday, April 9th. Mizuho raised their price target on Chevron from $195.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Wells Fargo & Company raised their target price on Chevron from $185.00 to $198.00 and gave the company an “overweight” rating in a report on Thursday, April 4th. TD Cowen lowered shares of Chevron from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $170.00 to $150.00 in a research note on Tuesday, January 23rd. Finally, Royal Bank of Canada increased their target price on shares of Chevron from $185.00 to $190.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $183.55.

Insiders Place Their Bets

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the company’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total transaction of $448,252.00. Following the completion of the transaction, the vice president now owns 276 shares in the company, valued at approximately $44,184.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.18% of the stock is owned by insiders.

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.