Bar Harbor Wealth Management Decreases Holdings in Chevron Co. (NYSE:CVX)

Bar Harbor Wealth Management reduced its stake in Chevron Co. (NYSE:CVX) by 0.8% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 97,025 shares of the oil and gas company’s stock after selling 801 shares during the quarter. Bar Harbor Wealth Management’s holdings in Chevron were worth $14,053,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Rational Advisors LLC purchased a new position in Chevron in the third quarter valued at about $29,000. Legacy Investment Solutions LLC bought a new position in Chevron during the third quarter valued at $29,000. Darwin Wealth Management LLC purchased a new stake in Chevron in the third quarter worth $30,000. RPg Family Wealth Advisory LLC bought a new stake in shares of Chevron in the third quarter valued at $31,000. Finally, Cyrus J. Lawrence LLC lifted its position in shares of Chevron by 66.7% during the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after buying an additional 100 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

CVX has been the subject of several recent research reports. Truist Financial lifted their price objective on Chevron from $160.00 to $164.00 and gave the stock a “hold” rating in a report on Monday. UBS Group lifted their target price on shares of Chevron from $194.00 to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. Royal Bank of Canada upped their price target on shares of Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. Citigroup upgraded shares of Chevron from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $145.00 to $185.00 in a research note on Tuesday, November 26th. Finally, Barclays raised their price target on Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $174.87.

Chevron Stock Up 1.3 %

Shares of NYSE:CVX opened at $155.07 on Tuesday. The firm has a market capitalization of $278.67 billion, a PE ratio of 17.04, a price-to-earnings-growth ratio of 2.93 and a beta of 1.12. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $167.11. The firm has a fifty day moving average of $153.71 and a 200 day moving average of $150.94.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.47 by $0.04. The firm had revenue of $50.67 billion during the quarter, compared to analysts’ expectations of $48.86 billion. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The company’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same period in the prior year, the business earned $3.05 EPS. As a group, research analysts anticipate that Chevron Co. will post 10.5 EPS for the current fiscal year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th were paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 4.20%. The ex-dividend date of this dividend was Monday, November 18th. Chevron’s dividend payout ratio (DPR) is presently 71.65%.

Insider Transactions at Chevron

In related news, CEO Michael K. Wirth sold 164,600 shares of Chevron stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total value of $26,357,398.00. Following the transaction, the chief executive officer now owns 4,280 shares in the company, valued at $685,356.40. This trade represents a 97.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.20% of the company’s stock.

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.