Bay Harbor Wealth Management LLC Sells 900 Shares of Chevron Co. (NYSE:CVX)

Bay Harbor Wealth Management LLC trimmed its holdings in shares of Chevron Co. (NYSE:CVX) by 39.5% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,376 shares of the oil and gas company’s stock after selling 900 shares during the quarter. Bay Harbor Wealth Management LLC’s holdings in Chevron were worth $116,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. BlackRock Inc. raised its stake in shares of Chevron by 0.9% during the third quarter. BlackRock Inc. now owns 130,343,840 shares of the oil and gas company’s stock worth $9,384,756,000 after buying an additional 1,131,731 shares during the last quarter. Morgan Stanley increased its stake in Chevron by 1.9% in the third quarter. Morgan Stanley now owns 17,964,666 shares of the oil and gas company’s stock valued at $1,293,455,000 after purchasing an additional 328,678 shares in the last quarter. FMR LLC increased its stake in Chevron by 1.0% in the fourth quarter. FMR LLC now owns 9,158,037 shares of the oil and gas company’s stock valued at $773,397,000 after purchasing an additional 93,672 shares in the last quarter. Alliancebernstein L.P. increased its stake in Chevron by 12.2% in the fourth quarter. Alliancebernstein L.P. now owns 6,764,042 shares of the oil and gas company’s stock valued at $571,223,000 after purchasing an additional 737,344 shares in the last quarter. Finally, Fisher Asset Management LLC increased its stake in Chevron by 4.0% in the fourth quarter. Fisher Asset Management LLC now owns 5,643,730 shares of the oil and gas company’s stock valued at $476,613,000 after purchasing an additional 214,786 shares in the last quarter. 62.27% of the stock is owned by institutional investors and hedge funds.

Several equities research analysts have commented on CVX shares. Zacks Investment Research raised shares of Chevron from a “hold” rating to a “strong-buy” rating and set a $102.00 target price for the company in a research note on Friday, January 29th. Scotiabank raised shares of Chevron from a “sector perform” rating to an “outperform” rating and upped their target price for the company from $95.00 to $110.00 in a research note on Thursday, January 14th. Tudor Pickering downgraded shares of Chevron from a “buy” rating to a “hold” rating in a research note on Monday, December 7th. Mizuho started coverage on shares of Chevron in a research note on Tuesday, January 12th. They issued a “buy” rating and a $107.00 target price for the company. Finally, Wells Fargo & Company lowered their target price on shares of Chevron from $105.00 to $99.00 and set an “equal weight” rating for the company in a research note on Monday, February 1st. Nine equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. Chevron has an average rating of “Buy” and a consensus target price of $104.62.

In other Chevron news, CEO Michael K. Wirth sold 132,000 shares of the company’s stock in a transaction on Tuesday, January 19th. The shares were sold at an average price of $94.73, for a total transaction of $12,504,360.00. Following the sale, the chief executive officer now directly owns 132,000 shares of the company’s stock, valued at $12,504,360. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Rhonda J. Morris sold 14,700 shares of the company’s stock in a transaction on Thursday, January 14th. The stock was sold at an average price of $94.81, for a total transaction of $1,393,707.00. Following the sale, the vice president now directly owns 8,014 shares in the company, valued at $759,807.34. The disclosure for this sale can be found here. Insiders have sold 159,700 shares of company stock worth $15,133,067 over the last ninety days. Insiders own 0.28% of the company’s stock.

CVX traded up $0.72 during trading hours on Tuesday, hitting $99.11. 39,799 shares of the company’s stock were exchanged, compared to its average volume of 10,065,750. Chevron Co. has a 1-year low of $51.60 and a 1-year high of $106.96. The stock’s 50-day moving average is $91.13 and its two-hundred day moving average is $83.85. The stock has a market cap of $185.07 billion, a price-to-earnings ratio of -16.02, a PEG ratio of 5.74 and a beta of 1.33. The company has a quick ratio of 0.97, a current ratio of 1.26 and a debt-to-equity ratio of 0.26.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Thursday, January 28th. The oil and gas company reported ($0.01) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by ($0.09). Chevron had a positive return on equity of 1.75% and a negative net margin of 10.86%. The firm had revenue of $25.25 billion for the quarter, compared to the consensus estimate of $25.97 billion. During the same period last year, the company posted $1.49 earnings per share. The business’s revenue was down 30.5% compared to the same quarter last year. On average, equities research analysts anticipate that Chevron Co. will post 0.03 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 10th. Shareholders of record on Wednesday, February 17th will be given a dividend of $1.29 per share. This represents a $5.16 annualized dividend and a yield of 5.21%. The ex-dividend date is Tuesday, February 16th. Chevron’s dividend payout ratio (DPR) is currently 82.30%.

Chevron Profile

Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production of crude oil and natural gas; processing, liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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