Harfst & Associates Inc. Has $1.56 Million Stock Holdings in Chevron Corporation $CVX

Harfst & Associates Inc. lowered its stake in Chevron Corporation (NYSE:CVX) by 10.7% during the second quarter, Holdings Channel reports. The firm owned 10,912 shares of the oil and gas company’s stock after selling 1,309 shares during the period. Harfst & Associates Inc.’s holdings in Chevron were worth $1,562,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Elgethun Capital Management raised its position in shares of Chevron by 6.1% in the 2nd quarter. Elgethun Capital Management now owns 5,600 shares of the oil and gas company’s stock valued at $802,000 after buying an additional 321 shares in the last quarter. GM Advisory Group LLC raised its position in Chevron by 14.1% during the second quarter. GM Advisory Group LLC now owns 19,574 shares of the oil and gas company’s stock valued at $2,803,000 after purchasing an additional 2,423 shares in the last quarter. Quadrant Capital Group LLC lifted its stake in Chevron by 16.2% during the second quarter. Quadrant Capital Group LLC now owns 46,072 shares of the oil and gas company’s stock worth $6,597,000 after purchasing an additional 6,421 shares during the last quarter. Copley Financial Group Inc. boosted its holdings in shares of Chevron by 1.4% in the 2nd quarter. Copley Financial Group Inc. now owns 6,437 shares of the oil and gas company’s stock valued at $922,000 after purchasing an additional 90 shares in the last quarter. Finally, Vermillion & White Wealth Management Group LLC boosted its holdings in shares of Chevron by 86.1% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 255 shares of the oil and gas company’s stock valued at $37,000 after purchasing an additional 118 shares in the last quarter. 72.42% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CVX. Bank of America raised their price objective on Chevron from $170.00 to $185.00 and gave the company a “buy” rating in a research note on Wednesday, September 10th. Melius assumed coverage on shares of Chevron in a report on Wednesday, August 20th. They set a “hold” rating and a $155.00 price target for the company. Wells Fargo & Company raised their price objective on Chevron from $190.00 to $196.00 and gave the company an “overweight” rating in a report on Friday, November 14th. TD Cowen increased their target price on Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a research report on Monday, August 4th. Finally, Morgan Stanley boosted their price target on Chevron from $177.00 to $180.00 and gave the stock an “overweight” rating in a report on Thursday, November 13th. Ten equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, Chevron presently has an average rating of “Hold” and a consensus target price of $165.58.

Insider Activity

In related news, Director John B. Hess sold 275,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $150.75, for a total transaction of $41,456,250.00. Following the completion of the sale, the director owned 1,128,045 shares of the company’s stock, valued at $170,052,783.75. This trade represents a 19.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Alana K. Knowles sold 3,978 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the vice president directly owned 1,181 shares in the company, valued at approximately $188,960. This trade represents a 77.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.21% of the stock is owned by corporate insiders.

Chevron Price Performance

Chevron stock opened at $149.72 on Thursday. The firm has a market cap of $301.47 billion, a P/E ratio of 19.27, a P/E/G ratio of 4.40 and a beta of 0.83. The stock’s 50 day moving average is $154.25 and its 200 day moving average is $151.10. 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 one year low of $132.04 and a one year high of $168.96.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, October 31st. The oil and gas company reported $1.85 EPS for the quarter, beating analysts’ consensus estimates of $1.71 by $0.14. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The company had revenue of $48.17 billion for the quarter, compared to analyst estimates of $46.99 billion. During the same period in the prior year, the firm posted $2.48 EPS. The company’s quarterly revenue was down 1.9% on a year-over-year basis. As a group, research analysts expect that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Tuesday, November 18th will be paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date of this dividend is Tuesday, November 18th. Chevron’s payout ratio is currently 96.20%.

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.