Harbor Capital Advisors Inc. Purchases 6,208 Shares of Chevron Corporation $CVX

Harbor Capital Advisors Inc. increased its position in Chevron Corporation (NYSE:CVX) by 19.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 38,296 shares of the oil and gas company’s stock after purchasing an additional 6,208 shares during the period. Harbor Capital Advisors Inc.’s holdings in Chevron were worth $5,947,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in CVX. Kingstone Capital Partners Texas LLC increased its stake in shares of Chevron by 652,139.5% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 83,714,936 shares of the oil and gas company’s stock worth $13,214,757,000 after acquiring an additional 83,702,101 shares in the last quarter. Norges Bank bought a new position in shares of Chevron during the second quarter valued at approximately $2,721,477,000. Laurel Wealth Advisors LLC lifted its holdings in shares of Chevron by 14,194.2% during the second quarter. Laurel Wealth Advisors LLC now owns 3,722,217 shares of the oil and gas company’s stock valued at $532,984,000 after purchasing an additional 3,696,177 shares during the last quarter. Berkshire Hathaway Inc boosted its position in shares of Chevron by 2.9% in the 2nd quarter. Berkshire Hathaway Inc now owns 122,064,792 shares of the oil and gas company’s stock worth $17,478,458,000 after purchasing an additional 3,454,258 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Chevron by 4.0% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 34,772,753 shares of the oil and gas company’s stock worth $4,979,255,000 after buying an additional 1,342,723 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Insider Activity

In related news, Director John B. Hess sold 275,000 shares of the business’s stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $150.75, for a total transaction of $41,456,250.00. Following the completion of the sale, the director directly owned 1,128,045 shares in the company, valued at approximately $170,052,783.75. The trade was a 19.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.21% of the company’s stock.

Chevron Price Performance

Shares of CVX opened at $150.50 on Friday. The firm has a market cap of $303.03 billion, a PE ratio of 21.17, a P/E/G ratio of 9.03 and a beta of 0.68. Chevron Corporation has a 1-year low of $132.04 and a 1-year high of $168.96. The company has a current ratio of 1.15, a quick ratio of 0.86 and a debt-to-equity ratio of 0.19. The firm has a fifty day simple moving average of $152.18 and a two-hundred day simple moving average of $152.70.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, October 31st. The oil and gas company reported $1.85 EPS for the quarter, topping the consensus estimate of $1.71 by $0.14. Chevron had a return on equity of 8.74% and a net margin of 6.57%.The company had revenue of $48.17 billion during the quarter, compared to analyst estimates of $46.99 billion. During the same quarter in the previous year, the company posted $2.48 earnings per share. Chevron’s revenue was down 1.9% compared to the same quarter last year. On average, equities analysts anticipate that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 10th. Stockholders of record on Tuesday, November 18th were paid a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.5%. The ex-dividend date was Tuesday, November 18th. Chevron’s dividend payout ratio is 96.20%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Raymond James Financial reiterated an “outperform” rating and set a $160.00 price objective (down previously from $170.00) on shares of Chevron in a research note on Friday, October 17th. Mizuho raised their price target on Chevron from $204.00 to $206.00 and gave the company an “outperform” rating in a report on Friday, December 12th. Piper Sandler dropped their price target on shares of Chevron from $171.00 to $169.00 and set an “overweight” rating on the stock in a research note on Monday, November 10th. HSBC set a $169.00 price objective on shares of Chevron and gave the company a “buy” rating in a research report on Monday, December 1st. Finally, Barclays decreased their target price on shares of Chevron from $160.00 to $158.00 and set an “equal weight” rating for the company in a report on Tuesday, October 7th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $166.00.

Chevron Profile

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.