Harbor Capital Advisors Inc. Sells 15,782 Shares of Chevron Co. (NYSE:CVX)

Harbor Capital Advisors Inc. lowered its position in Chevron Co. (NYSE:CVX - Free Report) by 33.0% during the first quarter, according to its most recent filing with the SEC. The firm owned 32,057 shares of the oil and gas company's stock after selling 15,782 shares during the period. Harbor Capital Advisors Inc.'s holdings in Chevron were worth $5,363,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CVX. Capital & Planning LLC lifted its position in shares of Chevron by 15.2% in the 4th quarter. Capital & Planning LLC now owns 1,678 shares of the oil and gas company's stock worth $243,000 after purchasing an additional 222 shares during the period. Eagle Capital Management LLC lifted its position in shares of Chevron by 0.7% in the 4th quarter. Eagle Capital Management LLC now owns 34,600 shares of the oil and gas company's stock worth $5,011,000 after purchasing an additional 242 shares during the period. Union Bancaire Privee UBP SA acquired a new position in shares of Chevron in the 4th quarter worth approximately $8,947,000. Principle Wealth Partners LLC lifted its position in shares of Chevron by 0.5% during the 4th quarter. Principle Wealth Partners LLC now owns 39,102 shares of the oil and gas company's stock valued at $5,664,000 after acquiring an additional 199 shares during the period. Finally, Pineridge Advisors LLC lifted its position in shares of Chevron by 286.7% during the 4th quarter. Pineridge Advisors LLC now owns 1,253 shares of the oil and gas company's stock valued at $181,000 after acquiring an additional 929 shares during the period. Institutional investors and hedge funds own 72.42% of the company's stock.

Chevron Stock Performance

CVX traded up $0.12 during trading on Thursday, hitting $144.90. 6,989,778 shares of the company traded hands, compared to its average volume of 8,142,651. The firm has a market cap of $253.05 billion, a P/E ratio of 14.91, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83. The stock's fifty day moving average is $138.35 and its 200 day moving average is $149.32. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. Chevron Co. has a one year low of $132.04 and a one year high of $168.96.

Chevron (NYSE:CVX - Get Free Report) last posted its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.03. The company had revenue of $47.61 billion during the quarter, compared to analyst estimates of $49.05 billion. Chevron had a net margin of 8.71% and a return on equity of 11.44%. The firm's revenue for the quarter was down 2.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.93 earnings per share. As a group, equities analysts predict that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th were given a dividend of $1.71 per share. The ex-dividend date was Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a yield of 4.72%. Chevron's dividend payout ratio is presently 78.17%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. DZ Bank downgraded shares of Chevron from a "buy" rating to a "sell" rating and set a $130.00 target price on the stock. in a research report on Tuesday, May 6th. Hsbc Global Res downgraded shares of Chevron from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Redburn Atlantic reiterated a "sell" rating and set a $124.00 target price (down previously from $156.00) on shares of Chevron in a research report on Wednesday, April 23rd. BNP Paribas downgraded shares of Chevron to a "cautious" rating in a research report on Tuesday, April 15th. Finally, Piper Sandler dropped their target price on shares of Chevron from $173.00 to $162.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 13th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $160.24.

Chevron Company Profile

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.