Oak Harvest Investment Services Sells 18,389 Shares of Chevron Co. (NYSE:CVX)

Oak Harvest Investment Services lowered its position in Chevron Co. (NYSE:CVX) by 22.5% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 63,391 shares of the oil and gas company’s stock after selling 18,389 shares during the period. Chevron accounts for approximately 1.3% of Oak Harvest Investment Services’ portfolio, making the stock its 22nd largest position. Oak Harvest Investment Services’ holdings in Chevron were worth $9,182,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Marietta Wealth Management LLC grew its holdings in Chevron by 10.9% during the 3rd quarter. Marietta Wealth Management LLC now owns 40,484 shares of the oil and gas company’s stock worth $5,962,000 after acquiring an additional 3,965 shares during the period. Leo Wealth LLC boosted its holdings in shares of Chevron by 19.6% during the 3rd quarter. Leo Wealth LLC now owns 8,246 shares of the oil and gas company’s stock worth $1,214,000 after buying an additional 1,354 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Chevron by 11.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 31,108,760 shares of the oil and gas company’s stock worth $4,581,137,000 after buying an additional 3,203,899 shares during the period. RPG Investment Advisory LLC increased its stake in shares of Chevron by 3.4% in the 3rd quarter. RPG Investment Advisory LLC now owns 121,167 shares of the oil and gas company’s stock valued at $17,844,000 after acquiring an additional 3,933 shares in the last quarter. Finally, State Street Corp lifted its position in shares of Chevron by 0.6% during the 3rd quarter. State Street Corp now owns 159,105,244 shares of the oil and gas company’s stock valued at $23,431,429,000 after acquiring an additional 874,962 shares during the period. 72.42% of the stock is owned by institutional investors.

Insider Transactions at Chevron

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the stock in a transaction that occurred on 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 in the company, valued at approximately $685,356.40. This trade represents a 97.47 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.20% of the company’s stock.

Chevron Price Performance

Shares of Chevron stock opened at $156.19 on Friday. The business’s 50-day moving average price is $153.56 and its 200-day moving average price is $151.16. The firm has a market capitalization of $280.68 billion, a PE ratio of 17.16, a price-to-earnings-growth ratio of 1.35 and a beta of 1.12. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $167.11. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last issued its earnings results on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, topping 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 company had revenue of $50.67 billion for the quarter, compared to analysts’ expectations of $48.86 billion. During the same quarter last year, the company earned $3.05 EPS. The firm’s revenue was down 6.3% compared to the same quarter last year. Sell-side analysts forecast that Chevron Co. will post 10.18 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CVX has been the topic of several research reports. Wells Fargo & Company upped their price objective on shares of Chevron from $171.00 to $188.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Truist Financial increased their price objective on Chevron from $160.00 to $164.00 and gave the stock a “hold” rating in a research note on Monday, January 13th. Raymond James upped their price target on Chevron from $175.00 to $180.00 and gave the stock an “outperform” rating in a report on Friday, January 17th. Bank of America began coverage on Chevron in a research report on Thursday, October 17th. They set a “buy” rating and a $168.00 price target for the company. Finally, Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $145.00 to $185.00 in a research note on Tuesday, November 26th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $175.27.

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.