Harbor Investment Advisory LLC Buys 1,753 Shares of Chevron Corporation $CVX

Key Points

• Harbor Investment Advisory LLC raised its stake in Chevron Corporation by 9.9%, acquiring 1,753 additional shares, making its total holding 19,402 shares valued at approximately $2.78 million.
• Chevron reported $1.77 earnings per share in its latest quarter, exceeding the consensus estimate by 19 cents, although revenues fell 12.4% year-over-year.
• The company announced a quarterly dividend of $1.71 per share, resulting in an annualized dividend yield of 4.4%.

Harbor Investment Advisory LLC boosted its position in shares of Chevron Corporation (NYSE:CVX - Free Report) by 9.9% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 19,402 shares of the oil and gas company's stock after purchasing an additional 1,753 shares during the quarter. Harbor Investment Advisory LLC's holdings in Chevron were worth $2,778,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Harvest Fund Management Co. Ltd raised its holdings in Chevron by 420.7% in the 1st quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company's stock worth $25,000 after acquiring an additional 122 shares during the last quarter. Elequin Capital LP purchased a new position in shares of Chevron in the first quarter worth $31,000. 10Elms LLP purchased a new position in shares of Chevron in the fourth quarter worth $29,000. IFS Advisors LLC lifted its holdings in shares of Chevron by 119.6% during the first quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company's stock valued at $36,000 after purchasing an additional 116 shares in the last quarter. Finally, Cloud Capital Management LLC purchased a new stake in shares of Chevron during the first quarter valued at $39,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on CVX shares. TD Cowen boosted their target price on Chevron from $150.00 to $155.00 and gave the stock a "hold" rating in a research report on Monday, August 4th. Barclays reiterated an "equal weight" rating on shares of Chevron in a research note on Tuesday, July 15th. Raymond James Financial reissued an "outperform" rating on shares of Chevron in a report on Friday, August 1st. Melius started coverage on shares of Chevron in a report on Wednesday, August 20th. They issued a "hold" rating and a $155.00 target price on the stock. Finally, Wells Fargo & Company reaffirmed an "overweight" rating and issued a $178.00 target price on shares of Chevron in a research report on Friday, August 1st. Eleven analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, Chevron presently has an average rating of "Hold" and a consensus price target of $164.80.

Insiders Place Their Bets

In other Chevron news, VP Alana K. Knowles sold 3,978 shares of the stock in a transaction on Friday, August 29th. The stock was sold at an average price of $160.00, for a total value of $636,480.00. Following the completion of the sale, the vice president owned 1,181 shares in the company, valued at approximately $188,960. This represents a 77.11% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director John B. Hess sold 375,000 shares of the business's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $158.30, for a total value of $59,362,500.00. Following the completion of the transaction, the director owned 1,403,045 shares in the company, valued at $222,102,023.50. The trade was a 21.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.20% of the company's stock.

Chevron Stock Performance

Shares of NYSE:CVX traded down $1.02 during midday trading on Friday, hitting $157.23. The company had a trading volume of 5,545,397 shares, compared to its average volume of 7,652,500. The company has a market cap of $271.69 billion, a price-to-earnings ratio of 20.24, a PEG ratio of 1.98 and a beta of 0.90. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.00 and a quick ratio of 0.74. The company has a fifty day moving average of $154.67 and a two-hundred day moving average of $148.79. Chevron Corporation has a 12-month low of $132.04 and a 12-month high of $168.96.

Chevron (NYSE:CVX - Get Free Report) last issued its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, topping analysts' consensus estimates of $1.58 by $0.19. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The business had revenue of $44.82 billion during the quarter, compared to analysts' expectations of $44.59 billion. During the same quarter in the prior year, the business posted $2.55 earnings per share. The business's quarterly revenue was down 12.4% on a year-over-year basis. On average, equities research analysts expect that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were given a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date was Tuesday, August 19th. Chevron's dividend payout ratio is presently 88.03%.

Chevron 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.