Harbor Advisory Corp MA Acquires 11,261 Shares of Chevron Co. (NYSE:CVX)

Harbor Advisory Corp MA lifted its holdings in Chevron Co. (NYSE:CVX) by 109.3% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 21,568 shares of the oil and gas company’s stock after acquiring an additional 11,261 shares during the quarter. Harbor Advisory Corp MA’s holdings in Chevron were worth $3,176,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Cherrydale Wealth Management LLC bought a new position in Chevron during the 1st quarter worth approximately $223,000. Westend Capital Management LLC bought a new position in shares of Chevron in the first quarter worth approximately $119,000. Steph & Co. increased its stake in shares of Chevron by 19.0% in the first quarter. Steph & Co. now owns 5,777 shares of the oil and gas company’s stock worth $911,000 after buying an additional 922 shares during the period. Game Plan Financial Advisors LLC bought a new stake in Chevron during the 1st quarter valued at $1,437,000. Finally, Northwest Investment Counselors LLC grew its holdings in Chevron by 8.2% in the 1st quarter. Northwest Investment Counselors LLC now owns 2,261 shares of the oil and gas company’s stock worth $357,000 after acquiring an additional 171 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Stock Down 0.1 %

Chevron stock traded down $0.16 during mid-day trading on Tuesday, reaching $150.72. The stock had a trading volume of 934,502 shares, compared to its average volume of 7,660,736. Chevron Co. has a one year low of $135.37 and a one year high of $167.11. The company has a 50-day moving average price of $146.19 and a two-hundred day moving average price of $153.55. The company has a market capitalization of $277.77 billion, a price-to-earnings 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.

Chevron (NYSE:CVX) last issued its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.38). Chevron had a return on equity of 13.70% and a net margin of 9.31%. The firm had revenue of $51.18 billion during the quarter, compared to the consensus estimate of $48.68 billion. During the same quarter in the prior year, the company posted $3.08 EPS. The company’s quarterly revenue was up 4.7% on a year-over-year basis. On average, analysts expect that Chevron Co. will post 10.95 EPS for the current fiscal year.

Chevron Announces Dividend

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

Analysts Set New Price Targets

A number of analysts have recently weighed in on CVX shares. Bank of America began coverage on shares of Chevron in a report on Thursday, October 17th. They set a “buy” rating and a $168.00 target price for the company. Mizuho cut their price objective on Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. Scotiabank reduced their target price on Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Wolfe Research started coverage on Chevron in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. Finally, Sanford C. Bernstein downgraded shares of Chevron from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $183.00 to $167.00 in a research report on Wednesday, July 17th. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target 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.