Harbour Capital Advisors LLC Has $4.72 Million Holdings in Chevron Corporation (NYSE:CVX)

Harbour Capital Advisors LLC lessened its position in Chevron Corporation (NYSE:CVX) by 2.0% during the 1st quarter, HoldingsChannel.com reports. The fund owned 30,227 shares of the oil and gas company’s stock after selling 607 shares during the period. Chevron accounts for about 1.2% of Harbour Capital Advisors LLC’s investment portfolio, making the stock its 18th largest holding. Harbour Capital Advisors LLC’s holdings in Chevron were worth $4,719,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of CVX. Sage Capital Advisors llc lifted its position in shares of Chevron by 2.2% during the 1st quarter. Sage Capital Advisors llc now owns 42,421 shares of the oil and gas company’s stock worth $7,097,000 after purchasing an additional 919 shares during the last quarter. CCG Wealth Management LLC increased its position in Chevron by 2.3% during the first quarter. CCG Wealth Management LLC now owns 6,334 shares of the oil and gas company’s stock worth $1,060,000 after acquiring an additional 145 shares during the period. Pines Wealth Management LLC raised its position in shares of Chevron by 3.3% during the first quarter. Pines Wealth Management LLC now owns 7,808 shares of the oil and gas company’s stock valued at $1,306,000 after buying an additional 253 shares during the last quarter. Viking Fund Management LLC grew its position in Chevron by 9.3% during the first quarter. Viking Fund Management LLC now owns 117,000 shares of the oil and gas company’s stock worth $19,573,000 after buying an additional 10,000 shares in the last quarter. Finally, Allianz SE bought a new position in Chevron during the fourth quarter valued at about $9,369,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Price Performance

Chevron stock opened at $143.67 on Wednesday. The business’s fifty day moving average is $139.78 and its two-hundred day moving average is $148.49. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.82 and a current ratio of 1.08. The firm has a market cap of $250.90 billion, a P/E ratio of 16.42, a P/E/G ratio of 2.58 and a beta of 0.83. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $168.96.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.03. Chevron had a net margin of 7.76% and a return on equity of 10.73%. The firm had revenue of $47.61 billion during the quarter, compared to analysts’ expectations of $49.05 billion. During the same quarter last year, the company posted $2.93 EPS. The company’s quarterly revenue was down 2.3% compared to the same quarter last year. Equities research analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were given a dividend of $1.71 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.76%. Chevron’s payout ratio is currently 78.17%.

Analyst Ratings Changes

A number of brokerages recently commented on CVX. Mizuho cut their target price on Chevron from $188.00 to $186.00 and set an “outperform” rating for the company in a research note on Tuesday, May 13th. Scotiabank cut shares of Chevron from a “sector outperform” rating to a “sector perform” rating and dropped their price objective for the company from $160.00 to $143.00 in a research note on Friday, April 11th. UBS Group decreased their target price on shares of Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, April 7th. Barclays cut shares of Chevron from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $171.00 to $152.00 in a research note on Wednesday, April 23rd. Finally, Hsbc Global Res cut shares of Chevron from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 13th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $160.24.

About Chevron

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.