Chevron Corporation $CVX Stake Increased by Safe Harbor Fiduciary LLC

Safe Harbor Fiduciary LLC lifted its holdings in Chevron Corporation (NYSE:CVX) by 13.0% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 7,881 shares of the oil and gas company’s stock after acquiring an additional 906 shares during the quarter. Safe Harbor Fiduciary LLC’s holdings in Chevron were worth $1,128,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Meeder Asset Management Inc. boosted its holdings in shares of Chevron by 60,300.0% during the first quarter. Meeder Asset Management Inc. now owns 604 shares of the oil and gas company’s stock worth $101,000 after purchasing an additional 603 shares during the period. N.E.W. Advisory Services LLC lifted its position in Chevron by 15.3% in the 1st quarter. N.E.W. Advisory Services LLC now owns 2,396 shares of the oil and gas company’s stock worth $401,000 after buying an additional 318 shares in the last quarter. Harvest Fund Management Co. Ltd lifted its position in Chevron by 420.7% in the 1st quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company’s stock worth $25,000 after buying an additional 122 shares in the last quarter. Bayforest Capital Ltd boosted its stake in shares of Chevron by 85.9% during the 1st quarter. Bayforest Capital Ltd now owns 316 shares of the oil and gas company’s stock valued at $53,000 after buying an additional 146 shares during the period. Finally, Arkadios Wealth Advisors boosted its stake in shares of Chevron by 27.8% during the 1st quarter. Arkadios Wealth Advisors now owns 104,045 shares of the oil and gas company’s stock valued at $17,406,000 after buying an additional 22,631 shares during the period. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Stock Performance

Shares of NYSE CVX opened at $149.72 on Thursday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00. The firm has a market cap of $301.47 billion, a price-to-earnings ratio of 19.27, a P/E/G ratio of 4.40 and a beta of 0.83. The business’s 50-day simple moving average is $154.25 and its 200-day simple moving average is $151.10. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $168.96.

Chevron (NYSE:CVX) last posted its earnings results on Friday, October 31st. The oil and gas company reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.71 by $0.14. The firm had revenue of $48.17 billion during the quarter, compared to analyst estimates of $46.99 billion. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The company’s revenue for the quarter was down 1.9% on a year-over-year basis. During the same period in the previous year, the company earned $2.48 EPS. As a group, equities research analysts expect that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Tuesday, November 18th will be paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date is Tuesday, November 18th. Chevron’s payout ratio is presently 96.20%.

Analyst Ratings Changes

A number of research firms have recently weighed in on CVX. Mizuho upped their price target on shares of Chevron from $191.00 to $204.00 and gave the stock an “outperform” rating in a research note on Thursday, November 13th. Melius initiated coverage on Chevron in a research note on Wednesday, August 20th. They issued a “hold” rating and a $155.00 target price on the stock. Evercore ISI reaffirmed an “outperform” rating and issued a $180.00 target price on shares of Chevron in a research report on Thursday, July 31st. Barclays reduced their price target on Chevron from $160.00 to $158.00 and set an “equal weight” rating for the company in a report on Tuesday, October 7th. Finally, Zacks Research downgraded Chevron from a “hold” rating to a “strong sell” rating in a report on Monday. Ten research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, Chevron has a consensus rating of “Hold” and an average price target of $165.58.

Insider Buying and Selling at Chevron

In related news, VP Alana K. Knowles sold 3,978 shares of the firm’s stock in a transaction on Friday, August 29th. The shares were sold at an average price of $160.00, for a total value of $636,480.00. Following the transaction, the vice president directly owned 1,181 shares in the company, valued at approximately $188,960. This trade represents a 77.11% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director John B. Hess sold 275,000 shares of Chevron stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $150.75, for a total transaction of $41,456,250.00. Following the completion of the transaction, the director owned 1,128,045 shares in the company, valued at $170,052,783.75. This trade represents a 19.60% decrease in their position. The SEC filing for this sale provides additional information. 0.21% of the stock is currently owned by corporate insiders.

Chevron 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.