Bar Harbor Wealth Management Sells 971 Shares of Chevron Co. (NYSE:CVX)

Bar Harbor Wealth Management lowered its holdings in Chevron Co. (NYSE:CVX) by 1.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 97,826 shares of the oil and gas company’s stock after selling 971 shares during the period. Bar Harbor Wealth Management’s holdings in Chevron were worth $14,407,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA lifted its holdings in Chevron by 55.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 8,537,859 shares of the oil and gas company’s stock valued at $1,335,492,000 after purchasing an additional 3,048,819 shares during the last quarter. Wulff Hansen & CO. grew its position in shares of Chevron by 15,542.0% during the 2nd quarter. Wulff Hansen & CO. now owns 1,175,653 shares of the oil and gas company’s stock valued at $183,896,000 after purchasing an additional 1,168,137 shares in the last quarter. Global Assets Advisory LLC purchased a new stake in shares of Chevron in the first quarter worth $156,482,000. Capital International Investors boosted its stake in Chevron by 5.9% during the first quarter. Capital International Investors now owns 13,418,287 shares of the oil and gas company’s stock valued at $2,116,600,000 after buying an additional 743,042 shares during the period. Finally, Federated Hermes Inc. boosted its stake in Chevron by 38.6% during the second quarter. Federated Hermes Inc. now owns 2,445,005 shares of the oil and gas company’s stock valued at $382,448,000 after buying an additional 681,394 shares during the period. 72.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CVX. Mizuho lowered their target price on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research note on Monday, September 16th. Bank of America started coverage on Chevron in a report on Thursday. They issued a “buy” rating and a $168.00 price objective for the company. Wolfe Research began coverage on shares of Chevron in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Barclays lowered their price objective on shares of Chevron from $185.00 to $168.00 and set an “overweight” rating for the company in a report on Thursday, October 3rd. Finally, Wells Fargo & Company lowered their price target on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research note on Friday, September 27th. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, Chevron presently has an average rating of “Moderate Buy” and a consensus price target of $173.07.

Chevron Stock Up 1.7 %

Shares of NYSE CVX opened at $151.19 on Friday. The firm has a fifty day simple moving average of $145.96 and a two-hundred day simple moving average of $153.76. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $170.17. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $276.51 billion, a PE ratio of 14.97, a price-to-earnings-growth ratio of 2.74 and a beta of 1.09.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share 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 firm had revenue of $51.18 billion for the quarter, compared to the consensus estimate of $48.68 billion. During the same period in the previous year, the firm posted $3.08 earnings per share. The business’s revenue was up 4.7% compared to the same quarter last year. Equities analysts expect that Chevron Co. will post 11.06 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 4.31%. The ex-dividend date of this dividend was Monday, August 19th. Chevron’s dividend payout ratio is currently 64.55%.

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.