Harbor Investment Advisory LLC decreased its holdings in Chevron Co. (NYSE:CVX – Free Report) by 1.8% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 19,764 shares of the oil and gas company’s stock after selling 355 shares during the period. Harbor Investment Advisory LLC’s holdings in Chevron were worth $3,225,000 as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. Rebalance LLC purchased a new stake in shares of Chevron in the 4th quarter valued at $26,000. Worth Asset Management LLC purchased a new stake in Chevron during the 1st quarter valued at $36,000. Red Tortoise LLC purchased a new stake in Chevron during the 4th quarter valued at $37,000. Western Pacific Wealth Management LP purchased a new stake in Chevron during the 4th quarter valued at $37,000. Finally, JDM Financial Group LLC purchased a new stake in Chevron during the 4th quarter valued at $42,000. Hedge funds and other institutional investors own 69.65% of the company’s stock.
Chevron Stock Up 0.9 %
NYSE:CVX opened at $154.22 on Friday. The firm has a market cap of $292.19 billion, a P/E ratio of 8.33, a P/E/G ratio of 0.78 and a beta of 1.16. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.16 and a current ratio of 1.43. Chevron Co. has a fifty-two week low of $132.54 and a fifty-two week high of $189.68. The firm has a 50-day simple moving average of $156.16 and a two-hundred day simple moving average of $164.53.
Chevron Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, June 12th. Shareholders 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 yield of 3.92%. Chevron’s dividend payout ratio is currently 32.61%.
Analysts Set New Price Targets
Several brokerages have weighed in on CVX. BNP Paribas raised shares of Chevron from an “underperform” rating to a “neutral” rating and set a $200.00 price target for the company in a research report on Tuesday, April 4th. UBS Group began coverage on shares of Chevron in a research report on Wednesday, April 19th. They set a “buy” rating and a $212.00 price target for the company. Raymond James dropped their price target on shares of Chevron from $212.00 to $208.00 and set an “outperform” rating for the company in a research report on Friday, April 14th. StockNews.com assumed coverage on shares of Chevron in a report on Thursday, May 18th. They issued a “hold” rating for the company. Finally, Truist Financial decreased their price objective on shares of Chevron from $193.00 to $190.00 in a report on Monday, May 1st. Nine analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $191.68.
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; 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.
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