Granite Harbor Advisors Inc. Has $418,000 Stake in Chevron Co. (NYSE:CVX)

Granite Harbor Advisors Inc. boosted its position in Chevron Co. (NYSE:CVX) by 5.7% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 2,651 shares of the oil and gas company’s stock after purchasing an additional 142 shares during the period. Granite Harbor Advisors Inc.’s holdings in Chevron were worth $418,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of Chevron by 0.3% during the third quarter. Vanguard Group Inc. now owns 161,924,375 shares of the oil and gas company’s stock valued at $27,303,688,000 after purchasing an additional 458,080 shares during the period. Berkshire Hathaway Inc raised its holdings in shares of Chevron by 14.4% in the 4th quarter. Berkshire Hathaway Inc now owns 126,093,326 shares of the oil and gas company’s stock worth $18,808,081,000 after acquiring an additional 15,845,037 shares during the last quarter. Morgan Stanley raised its holdings in shares of Chevron by 7.0% in the 3rd quarter. Morgan Stanley now owns 34,166,899 shares of the oil and gas company’s stock worth $5,761,223,000 after acquiring an additional 2,244,995 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Chevron by 8.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 26,235,473 shares of the oil and gas company’s stock worth $3,886,821,000 after acquiring an additional 1,999,332 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Chevron in the 4th quarter worth about $2,902,007,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Performance

CVX traded down $2.40 on Friday, hitting $154.31. The company’s stock had a trading volume of 6,100,722 shares, compared to its average volume of 8,004,512. The company’s 50 day simple moving average is $158.68 and its 200-day simple moving average is $154.90. The firm has a market cap of $284.39 billion, a P/E ratio of 14.20, a price-to-earnings-growth ratio of 2.38 and a beta of 1.10. Chevron Co. has a 12 month low of $139.62 and a 12 month high of $171.70. The company has a quick ratio of 0.93, a current ratio of 1.23 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, topping the consensus estimate of $2.84 by $0.09. The company had revenue of $48.72 billion during the quarter, compared to the consensus estimate of $48.42 billion. Chevron had a net margin of 10.21% and a return on equity of 14.40%. Chevron’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same period last year, the firm earned $3.55 EPS. Analysts forecast that Chevron Co. will post 13.15 EPS for the current year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 17th were issued a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 4.23%. The ex-dividend date was Thursday, May 16th. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

Analysts Set New Price Targets

A number of research firms recently weighed in on CVX. HSBC upped their target price on shares of Chevron from $175.00 to $178.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. Piper Sandler upped their target price on shares of Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a report on Thursday, April 18th. Wells Fargo & Company upped their price objective 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. Raymond James upped their price objective on shares of Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a research report on Monday, April 15th. Finally, UBS Group upped their price objective on shares of Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a research report on Tuesday, April 9th. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, Chevron presently has a consensus rating of “Moderate Buy” and an average target price of $186.95.

Insider Buying and Selling

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $165.00, for a total value of $462,000.00. Following the sale, the vice president now directly owns 276 shares in the company, valued at approximately $45,540. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Chevron news, VP Jeff B. Gustavson sold 3,750 shares of the stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $160.23, for a total value of $600,862.50. Following the sale, the vice president now directly owns 477 shares in the company, valued at approximately $76,429.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $165.00, for a total transaction of $462,000.00. Following the completion of the sale, the vice president now owns 276 shares in the company, valued at $45,540. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,746 shares of company stock valued at $2,727,971. 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.