Bar Harbor Wealth Management Has $12.84 Million Holdings in Chevron Corporation $CVX

Bar Harbor Wealth Management reduced its holdings in Chevron Corporation (NYSE:CVX) by 6.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 89,700 shares of the oil and gas company’s stock after selling 6,311 shares during the quarter. Bar Harbor Wealth Management’s holdings in Chevron were worth $12,844,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Harvest Fund Management Co. Ltd grew its stake in shares of Chevron by 420.7% during the first quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 122 shares during the last quarter. Elequin Capital LP bought a new stake in shares of Chevron during the first quarter valued at approximately $31,000. Cloud Capital Management LLC bought a new stake in shares of Chevron during the first quarter valued at approximately $39,000. Investment Management Corp VA ADV grew its stake in shares of Chevron by 171.3% during the first quarter. Investment Management Corp VA ADV now owns 236 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 149 shares during the last quarter. Finally, 1 North Wealth Services LLC bought a new stake in shares of Chevron during the first quarter valued at approximately $45,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Barclays decreased their price target on shares of Chevron from $160.00 to $158.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Melius Research started coverage on shares of Chevron in a research note on Wednesday, August 20th. They issued a “hold” rating and a $155.00 price objective on the stock. Raymond James Financial reaffirmed an “outperform” rating on shares of Chevron in a research note on Friday, August 1st. Jefferies Financial Group reaffirmed a “buy” rating on shares of Chevron in a research note on Friday, July 18th. Finally, Evercore ISI reaffirmed an “outperform” rating and issued a $180.00 price objective on shares of Chevron in a research note on Thursday, July 31st. Eleven research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Chevron presently has a consensus rating of “Hold” and an average price target of $165.15.

Chevron Trading Down 0.7%

CVX opened at $153.76 on Thursday. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96. 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’s fifty day moving average is $156.15 and its two-hundred day moving average is $148.88. The firm has a market cap of $265.70 billion, a PE ratio of 19.79, a price-to-earnings-growth ratio of 1.99 and a beta of 0.84.

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

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th were given a $1.71 dividend. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $6.84 dividend on an annualized basis and a yield of 4.4%. Chevron’s dividend payout ratio (DPR) is 88.03%.

Insiders Place Their Bets

In other news, VP Alana K. Knowles sold 3,978 shares of Chevron stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $160.00, for a total value of $636,480.00. Following the completion of the transaction, the vice president owned 1,181 shares of the company’s stock, valued at $188,960. This trade represents a 77.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John B. Hess sold 375,000 shares of Chevron stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $158.30, for a total transaction of $59,362,500.00. Following the completion of the transaction, the director directly owned 1,403,045 shares of the company’s stock, valued at approximately $222,102,023.50. This trade 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 company 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.