Chevron Co. (NYSE:CVX) Shares Sold by Harbour Investments Inc.

Harbour Investments Inc. trimmed its stake in shares of Chevron Co. (NYSE:CVX) by 0.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 26,222 shares of the oil and gas company’s stock after selling 70 shares during the period. Harbour Investments Inc.’s holdings in Chevron were worth $3,862,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Rational Advisors LLC purchased a new position in shares of Chevron in the third quarter worth approximately $29,000. Anfield Capital Management LLC boosted its stake in Chevron by 118.0% in the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock worth $34,000 after purchasing an additional 118 shares during the period. Cyrus J. Lawrence LLC grew its position in Chevron by 66.7% during the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 100 shares in the last quarter. Krane Funds Advisors LLC acquired a new stake in Chevron during the 3rd quarter valued at $47,000. Finally, Livelsberger Financial Advisory purchased a new stake in shares of Chevron in the third quarter valued at $47,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CVX. Wolfe Research began coverage on Chevron in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Scotiabank lowered their target price on Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Wells Fargo & Company reduced their price target on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research report on Friday, September 27th. Barclays boosted their price objective on shares of Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Finally, Mizuho cut their target price on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research report on Monday, September 16th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $174.93.

Chevron Stock Performance

Shares of NYSE CVX opened at $155.30 on Wednesday. The business’s 50-day simple moving average is $147.97 and its 200-day simple moving average is $152.68. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.11. The firm has a market cap of $279.09 billion, a price-to-earnings ratio of 17.07, a P/E/G ratio of 3.50 and a beta of 1.09.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, beating the consensus estimate of $2.47 by $0.04. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The company had revenue of $50.67 billion for the quarter, compared to the consensus estimate of $48.86 billion. During the same quarter last year, the company posted $3.05 earnings per share. The company’s revenue for the quarter was down 6.3% compared to the same quarter last year. As a group, equities research analysts expect that Chevron Co. will post 10.59 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 4.20%. The ex-dividend date is Monday, November 18th. Chevron’s dividend payout ratio is 71.65%.

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.