Harbor Advisors LLC Purchases 8,200 Shares of Chevron Corporation $CVX

Harbor Advisors LLC lifted its holdings in shares of Chevron Corporation (NYSE:CVX) by 187.6% in the 3rd quarter, HoldingsChannel reports. The fund owned 12,572 shares of the oil and gas company’s stock after purchasing an additional 8,200 shares during the period. Harbor Advisors LLC’s holdings in Chevron were worth $1,952,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the company. Castellan Group lifted its position in shares of Chevron by 10.7% during the 2nd quarter. Castellan Group now owns 20,405 shares of the oil and gas company’s stock worth $2,922,000 after buying an additional 1,965 shares in the last quarter. United Bank boosted its position in Chevron by 7.7% in 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 last quarter. Schnieders Capital Management LLC. grew its stake in Chevron by 9.0% in the 2nd quarter. Schnieders Capital Management LLC. now owns 50,839 shares of the oil and gas company’s stock valued at $7,280,000 after purchasing an additional 4,214 shares during the period. Quaker Wealth Management LLC increased its position in shares of Chevron by 197.7% during the 2nd quarter. Quaker Wealth Management LLC now owns 217 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 439 shares during the last quarter. Finally, Hantz Financial Services Inc. raised its position in Chevron by 5.5% in the second quarter. Hantz Financial Services Inc. now owns 11,598 shares of the oil and gas company’s stock worth $1,661,000 after acquiring an additional 607 shares during the period. 72.42% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CVX has been the subject of several recent analyst reports. Jefferies Financial Group boosted their target price on Chevron from $174.00 to $189.00 and gave the stock a “buy” rating in a research report on Wednesday, January 14th. JPMorgan Chase & Co. upgraded shares of Chevron from a “neutral” rating to an “overweight” rating and set a $176.00 target price on the stock in a research report on Tuesday, January 20th. Citigroup lowered their price objective on shares of Chevron from $185.00 to $179.00 and set a “buy” rating for the company in a research note on Monday, January 5th. Melius Research raised Chevron from a “hold” rating to a “buy” rating and set a $205.00 target price on the stock in a research note on Tuesday, February 17th. Finally, HSBC lowered Chevron from a “buy” rating to a “hold” rating and set a $180.00 price target for the company. in a research report on Monday, February 2nd. Thirteen equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, Chevron currently has an average rating of “Hold” and an average target price of $176.36.

Insider Activity at Chevron

In other Chevron news, insider R. Hewitt Pate sold 41,134 shares of the business’s stock in a transaction on Friday, January 30th. The shares were sold at an average price of $176.40, for a total transaction of $7,256,037.60. Following the completion of the sale, the insider directly owned 4,169 shares in the company, valued at approximately $735,411.60. The trade was a 90.80% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Vice Chairman Mark A. Nelson sold 45,800 shares of the company’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $174.17, for a total transaction of $7,976,986.00. Following the completion of the transaction, the insider owned 7,161 shares of the company’s stock, valued at approximately $1,247,231.37. The trade was a 86.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 534,898 shares of company stock valued at $89,543,711 over the last ninety days. Corporate insiders own 0.21% of the company’s stock.

Chevron Price Performance

Shares of NYSE CVX opened at $184.07 on Friday. Chevron Corporation has a 1 year low of $132.04 and a 1 year high of $187.90. The stock has a market capitalization of $367.29 billion, a P/E ratio of 27.64, a P/E/G ratio of 12.19 and a beta of 0.70. The company’s 50-day moving average is $168.75 and its 200 day moving average is $159.34. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.15 and a quick ratio of 0.86.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, January 30th. The oil and gas company reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.44 by $0.08. Chevron had a return on equity of 7.89% and a net margin of 6.51%.The business had revenue of $45.79 billion for the quarter, compared to analysts’ expectations of $48.18 billion. During the same period in the previous year, the firm posted $2.06 EPS. The business’s revenue was down 10.2% on a year-over-year basis. On average, sell-side analysts expect that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 17th will be paid a $1.78 dividend. This is a boost from Chevron’s previous quarterly dividend of $1.71. This represents a $7.12 annualized dividend and a dividend yield of 3.9%. The ex-dividend date is Tuesday, February 17th. Chevron’s payout ratio is currently 106.91%.

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.