Eads & Heald Wealth Management Sells 1,233 Shares of Chevron Co. (NYSE:CVX)

Eads & Heald Wealth Management lowered its holdings in Chevron Co. (NYSE:CVX) by 8.1% during the fourth quarter, HoldingsChannel.com reports. 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 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in CVX. Picton Mahoney Asset Management acquired a new stake in Chevron in the 3rd quarter valued at $26,000. Valley Forge Investment Consultants Inc. ADV lifted its holdings in Chevron by 80.0% during the 3rd quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock valued at $30,000 after purchasing an additional 80 shares during the last quarter. Valued Wealth Advisors LLC bought a new position in shares of Chevron in the fourth quarter valued at approximately $33,000. DHJJ Financial Advisors Ltd. bought a new stake in shares of Chevron during the third quarter worth $35,000. Finally, Worth Asset Management LLC acquired a new position in Chevron during the 1st quarter worth about $36,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Activity

In related news, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction dated Tuesday, April 2nd. The stock was 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 directly owns 276 shares in the company, valued at $44,184.84. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CVX. Mizuho boosted their target price on shares of Chevron from $195.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. Truist Financial dropped their target price on Chevron from $168.00 to $156.00 and set a “hold” rating for the company in a research report on Friday, April 5th. Raymond James raised their price target on Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a report on Monday. DZ Bank downgraded shares of Chevron from a “buy” rating to a “hold” rating and set a $160.00 target price on the stock. in a research report on Tuesday, February 6th. Finally, Wells Fargo & Company lifted their price target on shares of Chevron from $185.00 to $198.00 and gave the stock an “overweight” rating in a research report on Thursday, April 4th. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $183.55.

Chevron Trading Down 1.1 %

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

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

Chevron Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Friday, February 16th were paid a $1.63 dividend. This is an increase from Chevron’s previous quarterly dividend of $1.51. The ex-dividend date was Thursday, February 15th. This represents a $6.52 annualized dividend and a dividend yield of 4.18%. Chevron’s dividend payout ratio (DPR) is currently 57.39%.

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.