Harbour Investments Inc. Purchases 99 Shares of Chevron Co. (NYSE:CVX)

Harbour Investments Inc. increased its position in shares of Chevron Co. (NYSE:CVX) by 0.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,292 shares of the oil and gas company’s stock after acquiring an additional 99 shares during the quarter. Harbour Investments Inc.’s holdings in Chevron were worth $4,113,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. LS Investment Advisors LLC boosted its holdings in Chevron by 5.7% during the second quarter. LS Investment Advisors LLC now owns 25,758 shares of the oil and gas company’s stock worth $4,029,000 after buying an additional 1,392 shares in the last quarter. Smith Shellnut Wilson LLC ADV raised its stake in shares of Chevron by 3.7% in the 2nd quarter. Smith Shellnut Wilson LLC ADV now owns 3,116 shares of the oil and gas company’s stock valued at $487,000 after acquiring an additional 112 shares during the period. Smallwood Wealth Investment Management LLC raised its stake in shares of Chevron by 3.3% in the 2nd quarter. Smallwood Wealth Investment Management LLC now owns 4,965 shares of the oil and gas company’s stock valued at $777,000 after acquiring an additional 159 shares during the period. Patriot Financial Group Insurance Agency LLC increased its stake in Chevron by 7.3% during the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 10,906 shares of the oil and gas company’s stock worth $1,706,000 after buying an additional 740 shares during the period. Finally, Instrumental Wealth LLC increased its stake in Chevron by 3.5% during the 2nd quarter. Instrumental Wealth LLC now owns 2,238 shares of the oil and gas company’s stock worth $353,000 after buying an additional 76 shares during the period. Institutional investors own 72.42% of the company’s stock.

Analyst Ratings Changes

CVX has been the subject of a number of recent research reports. Truist Financial decreased their price target on shares of Chevron from $156.00 to $154.00 and set a “hold” rating for the company in a research note on Monday, August 5th. Sanford C. Bernstein cut shares of Chevron from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $183.00 to $167.00 in a research note on Wednesday, July 17th. Scotiabank decreased their price target on shares of Chevron from $195.00 to $180.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 12th. Wells Fargo & Company raised their target price on shares of Chevron from $198.00 to $206.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 30th. Finally, Mizuho raised their price target on shares of Chevron from $200.00 to $205.00 and gave the company a “buy” rating in a report on Monday, May 13th. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $183.82.

Chevron Price Performance

Shares of Chevron stock traded down $1.32 during trading on Wednesday, reaching $145.63. 2,150,230 shares of the stock traded hands, compared to its average volume of 7,751,768. The company has a market capitalization of $268.39 billion, a price-to-earnings ratio of 13.41, a P/E/G ratio of 2.46 and a beta of 1.10. The business has a fifty day simple moving average of $152.88 and a two-hundred day simple moving average of $155.79. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85. Chevron Co. has a 52-week low of $139.62 and a 52-week high of $171.70.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.38). Chevron had a net margin of 9.31% and a return on equity of 13.70%. The business had revenue of $51.18 billion for the quarter, compared to analysts’ expectations of $48.68 billion. During the same period in the previous year, the business earned $3.08 earnings per share. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. Sell-side analysts expect that Chevron Co. will post 11.96 EPS for the current year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th will be paid a dividend of $1.63 per share. The ex-dividend date of this dividend is Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.48%. Chevron’s dividend payout ratio is currently 59.98%.

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; 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.