Montz Harcus Wealth Management LLC Has $401,000 Position in Chevron Corporation $CVX

Montz Harcus Wealth Management LLC cut its position in Chevron Corporation (NYSE:CVX) by 4.2% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 2,801 shares of the oil and gas company’s stock after selling 122 shares during the quarter. Montz Harcus Wealth Management LLC’s holdings in Chevron were worth $401,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its position in shares of Chevron by 5.0% in the 2nd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 49,955 shares of the oil and gas company’s stock valued at $7,153,000 after buying an additional 2,396 shares in the last quarter. HighMark Wealth Management LLC increased its position in Chevron by 1,026.8% during the 2nd quarter. HighMark Wealth Management LLC now owns 631 shares of the oil and gas company’s stock worth $90,000 after purchasing an additional 575 shares in the last quarter. DHJJ Financial Advisors Ltd. increased its position in Chevron by 160.0% during the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 1,058 shares of the oil and gas company’s stock worth $151,000 after purchasing an additional 651 shares in the last quarter. Abundance Wealth Counselors increased its position in Chevron by 1.0% during the 2nd quarter. Abundance Wealth Counselors now owns 16,168 shares of the oil and gas company’s stock worth $2,340,000 after purchasing an additional 154 shares in the last quarter. Finally, Atwater Malick LLC increased its position in Chevron by 2.4% during the 2nd quarter. Atwater Malick LLC now owns 2,886 shares of the oil and gas company’s stock worth $413,000 after purchasing an additional 68 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Chevron in a research report on Saturday, September 27th. Piper Sandler upped their price objective on shares of Chevron from $164.00 to $168.00 and gave the stock an “overweight” rating in a research report on Monday, August 18th. Scotiabank reiterated a “sector perform” rating and set a $160.00 price objective (up from $143.00) on shares of Chevron in a research report on Friday, July 11th. Evercore ISI reiterated an “outperform” rating and set a $180.00 price objective on shares of Chevron in a research report on Thursday, July 31st. Finally, Melius Research initiated coverage on shares of 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, nine have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $165.05.

Insiders Place Their Bets

In other news, VP Alana K. Knowles sold 3,978 shares of the company’s stock in a transaction on 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 approximately $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 the SEC website. Also, Director John B. Hess sold 375,000 shares of the company’s stock in a transaction on 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 sale, the director directly owned 1,403,045 shares in the company, valued at approximately $222,102,023.50. This 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.

Chevron Trading Up 0.1%

Shares of NYSE CVX opened at $153.59 on Friday. The firm has a 50 day moving average price of $156.23 and a two-hundred day moving average price of $149.09. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00. Chevron Corporation has a 52-week low of $132.04 and a 52-week high of $168.96. The stock has a market cap of $265.40 billion, a P/E ratio of 19.77, a price-to-earnings-growth ratio of 1.98 and a beta of 0.84.

Chevron (NYSE:CVX) last posted its quarterly earnings data 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 company had revenue of $44.82 billion for the quarter, compared to analyst estimates of $44.59 billion. During the same period in the prior year, the firm posted $2.55 EPS. The company’s quarterly revenue was down 12.4% on a year-over-year basis. As a group, equities analysts forecast that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Announces Dividend

The company 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 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend was Tuesday, August 19th. Chevron’s dividend payout ratio is currently 88.03%.

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.