Chevron Corporation (NYSE:CVX) Position Decreased by Harbour Capital Advisors LLC

Harbour Capital Advisors LLC reduced its holdings in Chevron Corporation (NYSE:CVX) by 2.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,227 shares of the oil and gas company’s stock after selling 607 shares during the quarter. Chevron accounts for 1.2% of Harbour Capital Advisors LLC’s holdings, making the stock its 18th biggest position. Harbour Capital Advisors LLC’s holdings in Chevron were worth $4,719,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Sage Capital Advisors llc boosted its stake in shares of Chevron by 2.2% during the 1st quarter. Sage Capital Advisors llc now owns 42,421 shares of the oil and gas company’s stock worth $7,097,000 after acquiring an additional 919 shares in the last quarter. CCG Wealth Management LLC lifted its holdings in shares of Chevron by 2.3% during the first quarter. CCG Wealth Management LLC now owns 6,334 shares of the oil and gas company’s stock valued at $1,060,000 after purchasing an additional 145 shares during the last quarter. Pines Wealth Management LLC boosted its position in shares of Chevron by 3.3% in the 1st quarter. Pines Wealth Management LLC now owns 7,808 shares of the oil and gas company’s stock valued at $1,306,000 after purchasing an additional 253 shares during the period. Viking Fund Management LLC increased its stake in Chevron by 9.3% in the 1st quarter. Viking Fund Management LLC now owns 117,000 shares of the oil and gas company’s stock worth $19,573,000 after purchasing an additional 10,000 shares in the last quarter. Finally, Allianz SE acquired a new stake in Chevron during the 4th quarter worth about $9,369,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Stock Down 2.2%

Chevron stock opened at $143.67 on Wednesday. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.17. Chevron Corporation has a 1-year low of $132.04 and a 1-year high of $168.96. The firm’s fifty day simple moving average is $139.78 and its 200-day simple moving average is $148.49. The company has a market capitalization of $250.90 billion, a P/E ratio of 16.42, a P/E/G ratio of 2.58 and a beta of 0.83.

Chevron (NYSE:CVX) last posted its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, topping the consensus estimate of $2.15 by $0.03. Chevron had a net margin of 7.76% and a return on equity of 10.73%. The firm had revenue of $47.61 billion for the quarter, compared to the consensus estimate of $49.05 billion. During the same period in the prior year, the business posted $2.93 earnings per share. The business’s quarterly revenue was down 2.3% on a year-over-year basis. Sell-side analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.76%. The ex-dividend date was Monday, May 19th. Chevron’s payout ratio is 78.17%.

Analyst Upgrades and Downgrades

CVX has been the subject of several recent analyst reports. TD Cowen decreased their target price on shares of Chevron from $155.00 to $150.00 and set a “hold” rating for the company in a report on Monday, May 5th. BNP Paribas lowered shares of Chevron to a “cautious” rating in a research note on Tuesday, April 15th. Scotiabank cut shares of Chevron from a “sector outperform” rating to a “sector perform” rating and lowered their price objective for the stock from $160.00 to $143.00 in a research report on Friday, April 11th. Hsbc Global Res lowered Chevron from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 13th. Finally, UBS Group lowered their price target on Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a report on Monday, April 7th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $160.24.

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.