Harbour Investments Inc. Purchases 13,119 Shares of Chevron Corporation $CVX

Key Points

• Harbour Investments Inc. increased its Chevron stake by 47.7% in the fourth quarter, buying 13,119 additional shares and bringing its total holdings to 40,626 shares worth about $6.19 million.
• Institutional ownership remains heavy, with hedge funds and other institutional investors holding 72.42% of Chevron’s stock, though some insiders have been selling significant amounts recently.
• Analysts remain broadly positive on Chevron: several firms raised price targets, and MarketBeat shows a consensus rating of “Moderate Buy” with a target price of $205.13, while the company also recently beat EPS expectations in its latest quarter.

Harbour Investments Inc. lifted its position in shares of Chevron Corporation (NYSE:CVX - Free Report) by 47.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 40,626 shares of the oil and gas company's stock after buying an additional 13,119 shares during the quarter. Harbour Investments Inc.'s holdings in Chevron were worth $6,192,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of CVX. United Bank grew its stake in Chevron by 7.7% during the second quarter. United Bank now owns 11,079 shares of the oil and gas company's stock worth $1,586,000 after purchasing an additional 796 shares during the period. Schnieders Capital Management LLC. lifted its stake in Chevron by 9.0% in the second quarter. Schnieders Capital Management LLC. now owns 50,839 shares of the oil and gas company's stock valued at $7,280,000 after buying an additional 4,214 shares during the period. BNP Paribas lifted its stake in Chevron by 76.4% in the second quarter. BNP Paribas now owns 441 shares of the oil and gas company's stock valued at $63,000 after buying an additional 191 shares during the period. Osterweis Capital Management Inc. boosted its holdings in shares of Chevron by 678.9% during the 2nd quarter. Osterweis Capital Management Inc. now owns 1,363 shares of the oil and gas company's stock worth $195,000 after buying an additional 1,188 shares in the last quarter. Finally, Main Street Financial Solutions LLC grew its position in shares of Chevron by 3.6% during the 2nd quarter. Main Street Financial Solutions LLC now owns 16,052 shares of the oil and gas company's stock worth $2,299,000 after buying an additional 553 shares during the period. Institutional investors and hedge funds own 72.42% of the company's stock.

Insider Buying and Selling

In other Chevron news, insider R. Hewitt Pate sold 40,200 shares of the firm's stock in a transaction on Monday, March 30th. The stock was sold at an average price of $213.30, for a total value of $8,574,660.00. Following the completion of the sale, the insider directly owned 8,638 shares of the company's stock, valued at $1,842,485.40. This trade represents a 82.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Vice Chairman Mark A. Nelson sold 139,600 shares of the business's stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $187.92, for a total value of $26,233,632.00. Following the completion of the sale, the insider owned 11,337 shares in the company, valued at approximately $2,130,449.04. The trade was a 92.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,179,699 shares of company stock worth $224,675,517 in the last three months. Insiders own 0.56% of the company's stock.

Chevron News Summary

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Morgan Stanley raised its price target on Chevron, signaling improved analyst confidence in the stock’s outlook. Chevron (CVX) Price Target Raised by $2 at Morgan Stanley
• Positive Sentiment: Chevron expanded its Eastern Mediterranean gas strategy by drilling at Egypt’s Narges field and securing a 20-year gas supply deal through the Leviathan partnership in Israel, reinforcing longer-term production and cash-flow potential. Chevron’s Mediterranean Gas Push And What It Could Mean For CVX Valuation
• Positive Sentiment: Chevron’s inclusion among high-yield energy stocks highlights its dividend appeal and relatively stable earnings outlook, which can attract investors seeking defensive income. 5 Top-Ranked High-Yielding Energy Stocks to Buy for a Stable Portfolio
• Neutral Sentiment: Recent commentary noted Chevron’s valuation after a strong share-price run, suggesting the stock has momentum but may already reflect some of the good news. Chevron (CVX) Valuation Check After Strong Recent Share Price Performance
• Neutral Sentiment: Articles quoting Chevron’s CEO on tightening oil and gas supplies point to a potentially favorable pricing backdrop for producers, but they also reflect broader macro uncertainty tied to Middle East conflict. Gas Shortages Are Coming, and Chevron's CEO Says Economies Will Have to Slow. These Consumer Stocks Are Most at Risk.
• Negative Sentiment: Multiple insiders sold a sizable amount of Chevron stock, which can sometimes be interpreted as caution about near-term upside. Chevron Insiders Sell US$179m Of Stock, Possibly Signalling Caution

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Morgan Stanley boosted their target price on shares of Chevron from $212.00 to $214.00 and gave the company an "overweight" rating in a research report on Friday, May 22nd. Argus set a $203.00 price target on shares of Chevron in a report on Tuesday, February 3rd. UBS Group lifted their price target on shares of Chevron from $218.00 to $220.00 and gave the company a "buy" rating in a research note on Monday, May 4th. TD Cowen increased their price objective on shares of Chevron from $204.00 to $205.00 and gave the stock a "hold" rating in a research report on Friday, May 8th. Finally, Scotiabank raised their target price on Chevron from $168.00 to $187.00 and gave the company a "sector perform" rating in a research note on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Chevron currently has a consensus rating of "Moderate Buy" and a consensus target price of $205.13.

Chevron Price Performance

Shares of CVX opened at $184.69 on Wednesday. The stock has a market cap of $367.83 billion, a P/E ratio of 32.01, a P/E/G ratio of 0.63 and a beta of 0.51. The business's fifty day moving average is $193.18 and its 200 day moving average is $175.24. The company has a quick ratio of 0.84, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. Chevron Corporation has a 12-month low of $135.21 and a 12-month high of $214.71.

Chevron (NYSE:CVX - Get Free Report) last posted its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.41 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.00 by $0.41. The business had revenue of $47.56 billion during the quarter, compared to the consensus estimate of $51.86 billion. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The firm's quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the company posted $2.18 earnings per share. Sell-side analysts anticipate that Chevron Corporation will post 15.74 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 19th will be paid a dividend of $1.78 per share. The ex-dividend date is Tuesday, May 19th. This represents a $7.12 annualized dividend and a dividend yield of 3.9%. Chevron's dividend payout ratio (DPR) is presently 123.40%.

Chevron Profile

Chevron Corporation NYSE: CVX is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron's core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.

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