Harel Insurance Investments & Financial Services Ltd. Sells 4,160 Shares of Chevron Corporation $CVX

Harel Insurance Investments & Financial Services Ltd. decreased its holdings in Chevron Corporation (NYSE:CVX) by 32.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,613 shares of the oil and gas company’s stock after selling 4,160 shares during the quarter. Harel Insurance Investments & Financial Services Ltd.’s holdings in Chevron were worth $1,233,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Plato Investment Management Ltd increased its stake in Chevron by 1.4% in the 2nd quarter. Plato Investment Management Ltd now owns 45,068 shares of the oil and gas company’s stock valued at $6,430,000 after buying an additional 632 shares during the last quarter. Beam Wealth Advisors Inc. increased its stake in Chevron by 19.9% in the 2nd quarter. Beam Wealth Advisors Inc. now owns 17,044 shares of the oil and gas company’s stock valued at $2,440,000 after buying an additional 2,823 shares during the last quarter. Aviance Capital Partners LLC increased its stake in Chevron by 4.2% in the 2nd quarter. Aviance Capital Partners LLC now owns 14,973 shares of the oil and gas company’s stock valued at $2,144,000 after buying an additional 602 shares during the last quarter. Uniting Wealth Partners LLC increased its stake in Chevron by 7.4% in the 2nd quarter. Uniting Wealth Partners LLC now owns 5,864 shares of the oil and gas company’s stock valued at $840,000 after buying an additional 405 shares during the last quarter. Finally, Continental Investors Services Inc. increased its stake in Chevron by 4.9% in the 2nd quarter. Continental Investors Services Inc. now owns 1,701 shares of the oil and gas company’s stock valued at $244,000 after buying an additional 80 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Piper Sandler increased their price objective on shares of Chevron from $164.00 to $168.00 and gave the company an “overweight” rating in a research note on Monday, August 18th. TD Cowen increased their price objective on shares of Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a research note on Monday, August 4th. Evercore ISI reiterated an “outperform” rating and issued a $180.00 price objective on shares of Chevron in a research note on Thursday, July 31st. Raymond James Financial restated an “outperform” rating and set a $160.00 price target (down previously from $170.00) on shares of Chevron in a research note on Friday, October 17th. Finally, Mizuho decreased their price target on shares of Chevron from $192.00 to $191.00 and set an “outperform” rating for the company in a research note on Monday, September 15th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $165.25.

Chevron Stock Up 2.6%

Chevron stock opened at $157.58 on Monday. Chevron Corporation has a 1-year low of $132.04 and a 1-year high of $168.96. The firm has a market capitalization of $272.30 billion, a price-to-earnings ratio of 20.28, a P/E/G ratio of 4.40 and a beta of 0.84. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16. The firm has a 50 day simple moving average of $156.07 and a 200 day simple moving average of $149.20.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, October 31st. The oil and gas company reported $1.85 earnings per share 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 business had revenue of $49.73 billion during the quarter, compared to analyst estimates of $46.99 billion. During the same period in the previous year, the business earned $2.48 EPS. Chevron’s revenue was down 1.9% compared to the same quarter last year. On average, analysts predict that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Tuesday, November 18th will be given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date is Tuesday, November 18th. Chevron’s payout ratio is 88.03%.

Insiders Place Their Bets

In other news, VP Alana K. Knowles sold 3,978 shares of the business’s stock in a transaction on Friday, August 29th. The shares were sold at an average price of $160.00, for a total transaction of $636,480.00. Following the completion of the transaction, the vice president directly owned 1,181 shares in the company, valued at $188,960. The trade was a 77.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 transaction of $59,362,500.00. Following the transaction, the director owned 1,403,045 shares of the company’s stock, valued at $222,102,023.50. This trade represents a 21.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.21% of the stock is owned by insiders.

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.