Harbour Trust & Investment Management Co Decreases Stock Holdings in Chevron Corporation $CVX

Harbour Trust & Investment Management Co reduced its position in shares of Chevron Corporation (NYSE:CVX) by 4.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,520 shares of the oil and gas company’s stock after selling 550 shares during the period. Harbour Trust & Investment Management Co’s holdings in Chevron were worth $1,650,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CVX. Harvest Fund Management Co. Ltd increased its stake in shares of Chevron by 420.7% during the first quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 122 shares during the period. Elequin Capital LP acquired a new position in Chevron during the first quarter worth about $31,000. Cloud Capital Management LLC acquired a new position in Chevron during the first quarter worth about $39,000. Investment Management Corp VA ADV lifted its holdings in shares of Chevron by 171.3% in the first quarter. Investment Management Corp VA ADV now owns 236 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 149 shares in the last quarter. Finally, GFG Capital LLC purchased a new stake in shares of Chevron in the second quarter valued at about $42,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director John B. Hess sold 375,000 shares of the business’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $158.30, for a total value 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. The trade was a 21.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Alana K. Knowles sold 3,978 shares of the business’s stock in a transaction on Friday, August 29th. The stock was sold at an average price of $160.00, for a total transaction of $636,480.00. Following the completion of the sale, the vice president owned 1,181 shares of the company’s stock, valued at $188,960. The trade was a 77.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.20% of the stock is owned by insiders.

Chevron Stock Performance

Shares of CVX opened at $151.86 on Tuesday. The firm’s 50 day moving average is $156.12 and its 200-day moving average is $148.31. The stock has a market capitalization of $262.42 billion, a P/E ratio of 19.54, a P/E/G ratio of 1.93 and a beta of 0.84. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.00 and a quick ratio of 0.74. Chevron Corporation has a 12-month low of $132.04 and a 12-month high of $168.96.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.19. The company had revenue of $44.82 billion for the quarter, compared to analysts’ expectations of $44.59 billion. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The business’s revenue was down 12.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.55 EPS. Equities research analysts anticipate that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were paid a $1.71 dividend. The ex-dividend date was Tuesday, August 19th. This represents a $6.84 dividend on an annualized basis and a yield of 4.5%. Chevron’s payout ratio is 88.03%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CVX. Scotiabank upped their price objective on shares of Chevron from $160.00 to $165.00 and gave the company a “sector perform” rating in a research note on Thursday, October 9th. Wells Fargo & Company reaffirmed an “overweight” rating and set a $178.00 price target on shares of Chevron in a research note on Friday, August 1st. Melius Research initiated coverage on shares of Chevron in a research report on Wednesday, August 20th. They issued a “hold” rating and a $155.00 price objective for the company. TD Cowen raised their price target on shares of Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a report on Monday, August 4th. Finally, Evercore ISI reaffirmed an “outperform” rating and set a $180.00 price target on shares of Chevron in a report on Thursday, July 31st. Eleven analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, Chevron presently has an average rating of “Hold” and a consensus price target of $165.40.

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.