Private Harbour Investment Management & Counsel LLC Has $2.05 Million Position in Chevron Co. (NYSE:CVX)

Private Harbour Investment Management & Counsel LLC decreased its stake in Chevron Co. (NYSE:CVX) by 4.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,126 shares of the oil and gas company’s stock after selling 614 shares during the period. Chevron accounts for approximately 2.2% of Private Harbour Investment Management & Counsel LLC’s holdings, making the stock its 18th largest position. Private Harbour Investment Management & Counsel LLC’s holdings in Chevron were worth $2,046,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. IMG Wealth Management Inc. bought a new position in Chevron in the fourth quarter valued at approximately $25,000. Legacy Investment Solutions LLC acquired a new position in Chevron during the third quarter worth $29,000. Fairway Wealth LLC raised its position in Chevron by 75.9% during the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock worth $30,000 after acquiring an additional 88 shares in the last quarter. RPg Family Wealth Advisory LLC acquired a new stake in Chevron in the third quarter valued at $31,000. Finally, New Wave Wealth Advisors LLC bought a new position in shares of Chevron in the 4th quarter valued at about $39,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Buying and Selling at Chevron

In other news, VP Jeff B. Gustavson sold 9,325 shares of the stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $152.50, for a total value of $1,422,062.50. Following the completion of the transaction, the vice president now owns 1,057 shares of the company’s stock, valued at approximately $161,192.50. This represents a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.20% of the company’s stock.

Chevron Trading Up 0.6 %

Shares of NYSE:CVX opened at $165.93 on Wednesday. The business’s 50 day simple moving average is $156.67 and its 200 day simple moving average is $153.01. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.82. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The company has a market capitalization of $292.14 billion, a P/E ratio of 17.07, a P/E/G ratio of 1.46 and a beta of 1.08.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.36). Chevron had a return on equity of 11.44% and a net margin of 8.71%. During the same period in the prior year, the firm posted $3.45 earnings per share. On average, research analysts anticipate that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were paid a dividend of $1.71 per share. The ex-dividend date of this dividend was Friday, February 14th. This is a boost from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 4.12%. Chevron’s dividend payout ratio is presently 70.37%.

Analyst Upgrades and Downgrades

CVX has been the subject of several recent analyst reports. Citigroup upgraded shares of Chevron from a “neutral” rating to a “buy” rating and raised their target price for the company from $145.00 to $185.00 in a research note on Tuesday, November 26th. UBS Group decreased their target price on Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a report on Monday, February 3rd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $175.00 price objective on shares of Chevron in a research report on Monday, February 3rd. Barclays decreased their price objective on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Finally, Piper Sandler cut their target price on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Chevron presently has a consensus rating of “Moderate Buy” and an average price target of $174.13.

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.