Granite Harbor Advisors Inc. Buys 593 Shares of Chevron Corporation $CVX

Granite Harbor Advisors Inc. boosted its holdings in Chevron Corporation (NYSE:CVX) by 21.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,332 shares of the oil and gas company’s stock after buying an additional 593 shares during the quarter. Granite Harbor Advisors Inc.’s holdings in Chevron were worth $477,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Freedom Investment Management Inc. raised its holdings in Chevron by 13.1% during the 2nd quarter. Freedom Investment Management Inc. now owns 8,245 shares of the oil and gas company’s stock worth $1,181,000 after purchasing an additional 957 shares during the last quarter. Forum Financial Management LP grew its position in shares of Chevron by 0.4% during the 2nd quarter. Forum Financial Management LP now owns 33,007 shares of the oil and gas company’s stock worth $4,726,000 after buying an additional 145 shares during the period. Greatmark Investment Partners Inc. grew its position in shares of Chevron by 10.8% during the 2nd quarter. Greatmark Investment Partners Inc. now owns 32,129 shares of the oil and gas company’s stock worth $4,601,000 after buying an additional 3,130 shares during the period. Caliber Wealth Management LLC KS grew its position in shares of Chevron by 7.9% during the 2nd quarter. Caliber Wealth Management LLC KS now owns 1,997 shares of the oil and gas company’s stock worth $286,000 after buying an additional 146 shares during the period. Finally, BlueChip Wealth Advisors LLC grew its position in Chevron by 13.2% in the 2nd quarter. BlueChip Wealth Advisors LLC now owns 1,952 shares of the oil and gas company’s stock valued at $279,000 after purchasing an additional 228 shares during the period. Institutional investors own 72.42% of the company’s stock.

Chevron Trading Up 1.1%

Shares of Chevron stock opened at $155.45 on Thursday. Chevron Corporation has a 52-week low of $132.04 and a 52-week high of $168.96. The stock’s 50-day simple moving average is $156.03 and its 200 day simple moving average is $148.13. The stock has a market capitalization of $268.61 billion, a P/E ratio of 20.01, a P/E/G ratio of 2.05 and a beta of 0.84. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.19. The business had revenue of $44.82 billion for the quarter, compared to analysts’ expectations of $44.59 billion. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The firm’s quarterly revenue was down 12.4% compared to the same quarter last year. During the same period in the previous year, the business posted $2.55 EPS. As a group, research analysts anticipate that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were issued a dividend of $1.71 per share. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.4%. Chevron’s payout ratio is presently 88.03%.

Analysts Set New Price Targets

Several research firms recently issued reports on CVX. Raymond James Financial reissued an “outperform” rating and issued a $160.00 price target (down previously from $170.00) on shares of Chevron in a research report on Friday, October 17th. Mizuho reduced their price target on shares of Chevron from $192.00 to $191.00 and set an “outperform” rating for the company in a research report on Monday, September 15th. Morgan Stanley assumed coverage on shares of Chevron in a research report on Monday, August 4th. They issued an “overweight” rating and a $174.00 price target for the company. Melius assumed coverage on shares of Chevron in a report on Wednesday, August 20th. They issued a “hold” rating and a $155.00 target price for the company. Finally, Wells Fargo & Company assumed coverage on shares of Chevron in a report on Friday, October 17th. They issued an “overweight” rating and a $190.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, Chevron presently has a consensus rating of “Hold” and an average price target of $165.25.

Insider Activity

In other Chevron news, VP Alana K. Knowles sold 3,978 shares of the company’s stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $160.00, for a total value of $636,480.00. Following the completion of the sale, the vice president owned 1,181 shares of the company’s stock, valued at $188,960. This represents a 77.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John B. Hess sold 375,000 shares of the company’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $158.30, for a total value of $59,362,500.00. Following the completion of the sale, the director directly owned 1,403,045 shares of the company’s stock, valued at approximately $222,102,023.50. This represents a 21.09% decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by insiders.

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.