Harbor Investment Advisory LLC Grows Holdings in Chevron Co. (NYSE:CVX)

Harbor Investment Advisory LLC raised its position in Chevron Co. (NYSE:CVX) by 0.8% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 18,167 shares of the oil and gas company’s stock after purchasing an additional 144 shares during the period. Harbor Investment Advisory LLC’s holdings in Chevron were worth $2,631,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Evergreen Capital Management LLC increased its holdings in Chevron by 1.9% during the 2nd quarter. Evergreen Capital Management LLC now owns 40,897 shares of the oil and gas company’s stock worth $6,397,000 after purchasing an additional 775 shares during the last quarter. Providence Capital Advisors LLC grew its position in shares of Chevron by 1.6% during the second quarter. Providence Capital Advisors LLC now owns 18,614 shares of the oil and gas company’s stock worth $2,912,000 after buying an additional 288 shares in the last quarter. Cheviot Value Management LLC bought a new stake in shares of Chevron in the second quarter worth $12,340,000. Mill Creek Capital Advisors LLC raised its holdings in Chevron by 3.2% in the second quarter. Mill Creek Capital Advisors LLC now owns 4,214 shares of the oil and gas company’s stock valued at $659,000 after acquiring an additional 131 shares in the last quarter. Finally, Semmax Financial Advisors Inc. boosted its stake in Chevron by 21.8% during the 2nd quarter. Semmax Financial Advisors Inc. now owns 5,209 shares of the oil and gas company’s stock valued at $751,000 after acquiring an additional 932 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Stock Performance

Shares of CVX stock opened at $158.16 on Wednesday. The business has a 50 day simple moving average of $154.03 and a 200 day simple moving average of $151.04. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The firm has a market capitalization of $284.23 billion, a price-to-earnings ratio of 17.38, a price-to-earnings-growth ratio of 1.46 and a beta of 1.12. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. The business had revenue of $50.67 billion for the quarter, compared to analysts’ expectations of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The company’s revenue was down 6.3% on a year-over-year basis. During the same period in the previous year, the business earned $3.05 earnings per share. On average, equities research analysts anticipate that Chevron Co. will post 10.21 EPS for the current year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th were issued a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 4.12%. The ex-dividend date was Monday, November 18th. Chevron’s dividend payout ratio (DPR) is presently 71.65%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CVX. DZ Bank upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price on the stock in a research note on Tuesday, November 5th. Truist Financial lifted their target price on Chevron from $160.00 to $164.00 and gave the stock a “hold” rating in a research report on Monday, January 13th. Piper Sandler dropped their price target on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $145.00 to $185.00 in a report on Tuesday, November 26th. Finally, UBS Group increased their target price on shares of Chevron from $194.00 to $195.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, Chevron presently has an average rating of “Moderate Buy” and an average price target of $175.27.

Insider Activity at Chevron

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the completion of the transaction, the chief executive officer now directly owns 4,280 shares of the company’s stock, valued at approximately $685,356.40. This trade represents a 97.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.20% of the company’s stock.

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.