Harbor Investment Advisory LLC Increases Position in Chevron Co. (NYSE:CVX)

Harbor Investment Advisory LLC increased its stake in shares of Chevron Co. (NYSE:CVX) by 0.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 18,167 shares of the oil and gas company’s stock after buying 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 filing with the Securities and Exchange Commission.

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

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Royal Bank of Canada lifted their price objective on Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Raymond James boosted their price objective on shares of Chevron from $175.00 to $180.00 and gave the company an “outperform” rating in a research report on Friday, January 17th. Scotiabank decreased their target price on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target for the company in a report on Tuesday, November 5th. Finally, Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $145.00 to $185.00 in a report on Tuesday, November 26th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $175.27.

Insider Activity at Chevron

In other news, CEO Michael K. Wirth sold 164,600 shares of the company’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $160.13, for a total value of $26,357,398.00. Following the completion of the sale, the chief executive officer now owns 4,280 shares of the company’s stock, valued at $685,356.40. This represents a 97.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.20% of the stock is owned by insiders.

Chevron Stock Performance

NYSE CVX opened at $158.16 on Wednesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11. The firm has a market capitalization of $284.23 billion, a P/E ratio of 17.38, a P/E/G ratio of 1.46 and a beta of 1.12. The business’s 50-day simple moving average is $154.03 and its 200-day simple moving average is $151.04.

Chevron (NYSE:CVX) last announced its quarterly earnings results 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. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The firm had revenue of $50.67 billion for the quarter, compared to analysts’ expectations of $48.86 billion. During the same period in the previous year, the company posted $3.05 earnings per share. Chevron’s revenue was down 6.3% compared to the same quarter last year. Equities analysts predict that Chevron Co. will post 10.21 EPS for the current year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 18th were given a dividend of $1.63 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a yield of 4.12%. Chevron’s dividend payout ratio (DPR) is 71.65%.

Chevron 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.