Harbor Advisory Corp MA Boosts Stake in Chevron Co. (NYSE:CVX)

Harbor Advisory Corp MA grew its position in shares of Chevron Co. (NYSE:CVX) by 109.3% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,568 shares of the oil and gas company’s stock after buying an additional 11,261 shares during the quarter. Harbor Advisory Corp MA’s holdings in Chevron were worth $3,176,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Eagle Capital Management LLC boosted its position in Chevron by 0.5% in the first quarter. Eagle Capital Management LLC now owns 34,455 shares of the oil and gas company’s stock worth $5,435,000 after purchasing an additional 163 shares during the last quarter. Lane & Associates LLC bought a new position in Chevron during the first quarter valued at about $345,000. KCM Investment Advisors LLC grew its position in Chevron by 2.5% during the first quarter. KCM Investment Advisors LLC now owns 331,550 shares of the oil and gas company’s stock valued at $52,299,000 after buying an additional 8,168 shares during the period. Hosking Partners LLP bought a new stake in Chevron in the first quarter worth about $4,924,000. Finally, Garner Asset Management Corp boosted its stake in Chevron by 14.5% in the second quarter. Garner Asset Management Corp now owns 19,997 shares of the oil and gas company’s stock valued at $3,128,000 after acquiring an additional 2,530 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Price Performance

Shares of NYSE:CVX traded down $0.16 on Tuesday, hitting $150.72. The company’s stock had a trading volume of 934,502 shares, compared to its average volume of 7,660,736. The company has a market capitalization of $277.77 billion, a PE ratio of 13.84, a PEG ratio of 2.73 and a beta of 1.09. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85. The company has a 50-day simple moving average of $146.19 and a 200 day simple moving average of $153.55. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11.

Chevron (NYSE:CVX) last announced its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). Chevron had a net margin of 9.31% and a return on equity of 13.70%. The company had revenue of $51.18 billion during the quarter, compared to analysts’ expectations of $48.68 billion. During the same period in the prior year, the business earned $3.08 earnings per share. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. Sell-side analysts forecast that Chevron Co. will post 10.95 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were given a $1.63 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $6.52 annualized dividend and a yield of 4.33%. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Truist Financial decreased their price target on shares of Chevron from $154.00 to $150.00 and set a “hold” rating for the company in a research note on Monday, September 30th. Barclays lowered their target price on Chevron from $185.00 to $168.00 and set an “overweight” rating on the stock in a research note on Thursday, October 3rd. UBS Group increased their price target on Chevron from $189.00 to $192.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Wells Fargo & Company lowered their price objective on Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a research note on Friday, September 27th. Finally, Mizuho cut their target price on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research report on Monday, September 16th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $173.07.

Chevron Company 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.