Harbour Capital Advisors LLC lessened its holdings in Chevron Co. (NYSE:CVX – Get Rating) by 2.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 36,801 shares of the oil and gas company’s stock after selling 765 shares during the quarter. Chevron accounts for 2.2% of Harbour Capital Advisors LLC’s investment portfolio, making the stock its 6th biggest position. Harbour Capital Advisors LLC’s holdings in Chevron were worth $6,403,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Worth Asset Management LLC purchased a new position in Chevron in the 1st quarter worth $36,000. JDM Financial Group LLC purchased a new position in shares of Chevron in the fourth quarter valued at about $42,000. Hillsdale Investment Management Inc. increased its position in shares of Chevron by 127.3% in the third quarter. Hillsdale Investment Management Inc. now owns 375 shares of the oil and gas company’s stock valued at $54,000 after acquiring an additional 210 shares during the period. CarsonAllaria Wealth Management Ltd. increased its position in shares of Chevron by 65.9% in the third quarter. CarsonAllaria Wealth Management Ltd. now owns 423 shares of the oil and gas company’s stock valued at $61,000 after acquiring an additional 168 shares during the period. Finally, Piershale Financial Group Inc. purchased a new position in shares of Chevron in the fourth quarter valued at about $72,000. Hedge funds and other institutional investors own 69.37% of the company’s stock.
Chevron Stock Performance
Shares of NYSE CVX opened at $156.07 on Thursday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.47 and a quick ratio of 1.23. The firm has a fifty day moving average price of $167.93 and a 200-day moving average price of $169.43. Chevron Co. has a 1 year low of $132.54 and a 1 year high of $189.68. The stock has a market cap of $297.57 billion, a PE ratio of 8.54, a price-to-earnings-growth ratio of 0.74 and a beta of 1.16.
Chevron declared that its Board of Directors has initiated a share repurchase program on Wednesday, January 25th that permits the company to repurchase $75.00 billion in outstanding shares. This repurchase authorization permits the oil and gas company to reacquire up to 21.7% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.
Chevron Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, March 10th. Stockholders of record on Thursday, February 16th were issued a $1.51 dividend. This represents a $6.04 annualized dividend and a dividend yield of 3.87%. The ex-dividend date of this dividend was Wednesday, February 15th. This is a positive change from Chevron’s previous quarterly dividend of $1.42. Chevron’s dividend payout ratio (DPR) is 33.04%.
Insider Transactions at Chevron
In other Chevron news, VP Rhonda J. Morris sold 19,666 shares of the firm’s stock in a transaction dated Tuesday, February 7th. The shares were sold at an average price of $170.00, for a total transaction of $3,343,220.00. Following the transaction, the vice president now owns 3,967 shares of the company’s stock, valued at approximately $674,390. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.32% of the company’s stock.
Wall Street Analyst Weigh In
Several brokerages recently issued reports on CVX. Truist Financial boosted their price target on shares of Chevron from $169.00 to $179.00 and gave the company a “hold” rating in a research report on Tuesday, January 31st. Barclays boosted their price target on shares of Chevron from $196.00 to $212.00 and gave the company an “overweight” rating in a research report on Tuesday, January 3rd. StockNews.com began coverage on shares of Chevron in a research report on Thursday, March 16th. They set a “hold” rating on the stock. Morgan Stanley reduced their price target on shares of Chevron from $197.00 to $195.00 and set an “equal weight” rating on the stock in a research report on Monday, January 30th. Finally, BNP Paribas cut shares of Chevron from a “neutral” rating to an “underperform” rating and set a $190.00 price target on the stock. in a research report on Wednesday, December 14th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $189.50.
Chevron Profile
Chevron Corp. engages in the provision of administrative, financial management, and technology support for energy and chemical operations. It operates through the Upstream and Downstream segments. The Upstream segment consists of the exploration, development, and production of crude oil and natural gas, the liquefaction, transportation, and regasification associated with liquefied natural gas, the transporting of crude oil by major international oil export pipelines, the processing, transporting, storage, and marketing of natural gas, and a gas-to-liquids plant.
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