Harbour Investments Inc. Increases Stock Position in Chevron Corporation $CVX

Harbour Investments Inc. increased its holdings in Chevron Corporation (NYSE:CVX) by 47.7% in the 4th quarter, Holdings Channel reports. The institutional investor owned 40,626 shares of the oil and gas company’s stock after purchasing an additional 13,119 shares during the period. Harbour Investments Inc.’s holdings in Chevron were worth $6,192,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Global Assets Advisory LLC lifted its position in shares of Chevron by 1.6% during the fourth quarter. Global Assets Advisory LLC now owns 8,198 shares of the oil and gas company’s stock worth $1,249,000 after acquiring an additional 132 shares in the last quarter. Tandem Investment Advisors Inc. boosted its holdings in shares of Chevron by 78.4% in the fourth quarter. Tandem Investment Advisors Inc. now owns 2,562 shares of the oil and gas company’s stock worth $390,000 after acquiring an additional 1,126 shares during the period. Allstate Corp grew its position in shares of Chevron by 106.7% in the fourth quarter. Allstate Corp now owns 148,601 shares of the oil and gas company’s stock valued at $22,648,000 after purchasing an additional 76,714 shares in the last quarter. MSH Capital Advisors LLC grew its position in shares of Chevron by 19.6% in the fourth quarter. MSH Capital Advisors LLC now owns 9,311 shares of the oil and gas company’s stock valued at $1,419,000 after purchasing an additional 1,524 shares in the last quarter. Finally, Murphy Pohlad Asset Management LLC raised its stake in shares of Chevron by 1.0% during the 4th quarter. Murphy Pohlad Asset Management LLC now owns 25,794 shares of the oil and gas company’s stock valued at $3,931,000 after purchasing an additional 265 shares during the period. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Scotiabank increased their price objective on Chevron from $168.00 to $187.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 22nd. Tudor Pickering upgraded Chevron from a “hold” rating to a “buy” rating and set a $225.00 price target on the stock in a research report on Thursday, April 9th. Sanford C. Bernstein lowered their price target on shares of Chevron from $216.00 to $204.00 and set a “market perform” rating on the stock in a report on Monday, May 11th. HSBC upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $215.00 price objective for the company in a research report on Friday, March 20th. Finally, BNP Paribas Exane raised shares of Chevron from a “neutral” rating to an “outperform” rating and set a $174.00 target price on the stock in a report on Friday, April 17th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $205.13.

Chevron Price Performance

Chevron stock opened at $184.69 on Wednesday. The business has a 50-day simple moving average of $193.18 and a 200 day simple moving average of $175.24. Chevron Corporation has a 52 week low of $135.21 and a 52 week high of $214.71. The stock has a market cap of $367.83 billion, a price-to-earnings ratio of 32.01, a PEG ratio of 0.63 and a beta of 0.51. 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 (NYSE:CVX) last issued its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.41. The firm had revenue of $47.56 billion during the quarter, compared to the consensus estimate of $51.86 billion. Chevron had a return on equity of 6.90% and a net margin of 5.79%.The company’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter last year, the company posted $2.18 EPS. On average, research analysts forecast 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 issued a $1.78 dividend. The ex-dividend date of this dividend is Tuesday, May 19th. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.9%. Chevron’s dividend payout ratio is presently 123.40%.

Insider Activity

In other news, insider Andrew Benjamin Walz sold 11,600 shares of Chevron stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $188.58, for a total transaction of $2,187,528.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Vice Chairman Mark A. Nelson sold 139,600 shares of the company’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $187.92, for a total transaction of $26,233,632.00. Following the completion of the transaction, the insider owned 11,337 shares of the company’s stock, valued at $2,130,449.04. This trade represents a 92.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 1,179,699 shares of company stock worth $224,675,517. Corporate insiders own 0.56% of the company’s stock.

Key Headlines Impacting Chevron

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

Chevron Company 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.