Private Harbour Investment Management & Counsel LLC Sells 348 Shares of Chevron Co. (NYSE:CVX)

Posted by on Jul 1st, 2023

Private Harbour Investment Management & Counsel LLC lowered its position in Chevron Co. (NYSE:CVX – Free Report) by 2.2% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 15,287 shares of the oil and gas company’s stock after selling 348 shares during the period. Chevron comprises approximately 2.8% of Private Harbour Investment Management & Counsel LLC’s holdings, making the stock its 11th largest position. Private Harbour Investment Management & Counsel LLC’s holdings in Chevron were worth $2,494,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Rebalance LLC purchased a new stake in Chevron in the 4th quarter worth $26,000. Worth Asset Management LLC purchased a new stake in Chevron in the 1st quarter worth $36,000. Red Tortoise LLC purchased a new stake in Chevron in the 4th quarter worth $37,000. Western Pacific Wealth Management LP purchased a new stake in Chevron in the 4th quarter worth $37,000. Finally, JDM Financial Group LLC purchased a new stake in Chevron in the 4th quarter worth $42,000. Institutional investors own 69.65% of the company’s stock.

Chevron Price Performance

Shares of CVX stock opened at $157.35 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.43 and a quick ratio of 1.16. The company has a market capitalization of $298.12 billion, a P/E ratio of 8.50, a P/E/G ratio of 0.79 and a beta of 1.17. The company’s 50-day simple moving average is $157.44 and its two-hundred day simple moving average is $165.12. Chevron Co. has a one year low of $132.54 and a one year high of $189.68.

Chevron (NYSE:CVX – Free Report) last issued its earnings results on Friday, April 28th. The oil and gas company reported $3.55 EPS for the quarter, topping analysts’ consensus estimates of $3.41 by $0.14. The business had revenue of $50.79 billion for the quarter, compared to the consensus estimate of $49.49 billion. Chevron had a net margin of 14.74% and a return on equity of 23.15%. The company’s revenue for the quarter was down 6.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.36 EPS. As a group, equities analysts anticipate that Chevron Co. will post 13.83 EPS for the current year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 12th. Stockholders of record on Friday, May 19th were paid a dividend of $1.51 per share. The ex-dividend date was Thursday, May 18th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 3.84%. Chevron’s dividend payout ratio is presently 32.61%.

Wall Street Analyst Weigh In

Several analysts have commented on CVX shares. Raymond James decreased their price target on shares of Chevron from $212.00 to $208.00 and set an “outperform” rating on the stock in a research note on Friday, April 14th. UBS Group started coverage on shares of Chevron in a research report on Wednesday, April 19th. They set a “buy” rating and a $212.00 target price on the stock. Mizuho decreased their target price on shares of Chevron from $206.00 to $196.00 in a research report on Friday, May 19th. Truist Financial decreased their target price on shares of Chevron from $193.00 to $190.00 in a research report on Monday, May 1st. Finally, Royal Bank of Canada upgraded shares of Chevron from a “sector perform” rating to an “outperform” rating and upped their target price for the company from $165.00 to $180.00 in a research report on Thursday, June 1st. Nine research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $191.68.

Chevron Company Profile

(Free Report)

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; liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and processing, transportation, storage, and marketing of natural gas, as well as a gas-to-liquids plant.

Read More

Institutional Ownership by Quarter for Chevron (NYSE:CVX)

Receive News & Ratings for Chevron Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chevron and related companies with MarketBeat.com's FREE daily email newsletter.