Harbour Trust & Investment Management Co Has $1.65 Million Stock Position in Chevron Corporation $CVX

Harbour Trust & Investment Management Co cut its holdings in shares of Chevron Corporation (NYSE:CVX) by 4.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm 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 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Greenfield Savings Bank increased its stake in Chevron by 0.6% during the 2nd quarter. Greenfield Savings Bank now owns 11,611 shares of the oil and gas company’s stock worth $1,663,000 after purchasing an additional 68 shares in the last quarter. Atwater Malick LLC boosted its holdings in shares of Chevron by 2.4% in the 2nd quarter. Atwater Malick LLC now owns 2,886 shares of the oil and gas company’s stock valued at $413,000 after buying an additional 68 shares during the last quarter. Hubbell Strickland Wealth Management LLC boosted its holdings in shares of Chevron by 0.7% in the 2nd quarter. Hubbell Strickland Wealth Management LLC now owns 10,081 shares of the oil and gas company’s stock valued at $1,443,000 after buying an additional 68 shares during the last quarter. Capital Advisors Ltd. LLC boosted its holdings in shares of Chevron by 4.1% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 1,815 shares of the oil and gas company’s stock valued at $260,000 after buying an additional 71 shares during the last quarter. Finally, GDS Wealth Management lifted its holdings in Chevron by 4.4% during the 1st quarter. GDS Wealth Management now owns 1,706 shares of the oil and gas company’s stock valued at $285,000 after purchasing an additional 72 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on CVX shares. Bank of America increased their price objective on Chevron from $170.00 to $185.00 and gave the stock a “buy” rating in a research report on Wednesday, September 10th. Scotiabank lifted their target price on Chevron from $160.00 to $165.00 and gave the company a “sector perform” rating in a research report on Thursday, October 9th. Mizuho cut their price target on Chevron from $192.00 to $191.00 and set an “outperform” rating on the stock in a research note on Monday, September 15th. Melius Research began coverage on Chevron in a research note on Wednesday, August 20th. They set a “hold” rating and a $155.00 price target on the stock. Finally, Raymond James Financial reaffirmed an “outperform” rating on shares of Chevron in a research note on Friday, August 1st. Eleven research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, Chevron presently has a consensus rating of “Hold” and an average price target of $165.40.

Insider Activity

In other Chevron news, Director John B. Hess sold 375,000 shares of the company’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 transaction, the director directly owned 1,403,045 shares in the company, valued at approximately $222,102,023.50. This represents a 21.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Alana K. Knowles sold 3,978 shares of the firm’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 owned 1,181 shares of the company’s stock, valued at approximately $188,960. The trade was a 77.11% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.20% of the company’s stock.

Chevron Stock Performance

Shares of CVX opened at $151.86 on Tuesday. The stock has a market capitalization of $262.42 billion, a price-to-earnings ratio of 19.54, a price-to-earnings-growth ratio of 1.93 and a beta of 0.84. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00. The stock’s 50-day simple moving average is $156.12 and its 200 day simple moving average is $148.31. Chevron Corporation has a 52-week low of $132.04 and a 52-week high of $168.96.

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

Chevron Announces Dividend

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

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.