Clear Harbor Asset Management LLC Increases Stock Holdings in Chevron Co. (NYSE:CVX)

Clear Harbor Asset Management LLC raised its position in Chevron Co. (NYSE:CVX) by 16.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,600 shares of the oil and gas company’s stock after acquiring an additional 2,870 shares during the quarter. Clear Harbor Asset Management LLC’s holdings in Chevron were worth $2,984,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Segment Wealth Management LLC increased its stake in Chevron by 0.5% during the 4th quarter. Segment Wealth Management LLC now owns 28,611 shares of the oil and gas company’s stock worth $4,144,000 after buying an additional 152 shares during the period. First United Bank & Trust increased its position in shares of Chevron by 15.2% during the fourth quarter. First United Bank & Trust now owns 15,735 shares of the oil and gas company’s stock worth $2,279,000 after acquiring an additional 2,075 shares during the period. ARS Investment Partners LLC raised its stake in shares of Chevron by 3.4% in the fourth quarter. ARS Investment Partners LLC now owns 74,318 shares of the oil and gas company’s stock valued at $10,764,000 after acquiring an additional 2,447 shares in the last quarter. Royal Fund Management LLC boosted its holdings in Chevron by 390.3% in the fourth quarter. Royal Fund Management LLC now owns 19,946 shares of the oil and gas company’s stock valued at $2,890,000 after purchasing an additional 15,878 shares during the period. Finally, Reliant Investment Management LLC grew its stake in Chevron by 7.9% during the 4th quarter. Reliant Investment Management LLC now owns 1,778 shares of the oil and gas company’s stock worth $258,000 after purchasing an additional 130 shares in the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Chevron

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of Chevron stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total value of $26,357,398.00. Following the sale, the chief executive officer now owns 4,280 shares of the company’s stock, valued at approximately $685,356.40. The trade was a 97.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

CVX has been the topic of a number of analyst reports. Piper Sandler reduced their price target on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Wells Fargo & Company lifted their price target on shares of Chevron from $171.00 to $188.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. Scotiabank reduced their price objective on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Truist Financial boosted their target price on shares of Chevron from $160.00 to $164.00 and gave the stock a “hold” rating in a research note on Monday, January 13th. Finally, Bank of America initiated coverage on Chevron in a research note on Thursday, October 17th. They issued a “buy” rating and a $168.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, Chevron has a consensus rating of “Moderate Buy” and a consensus price target of $175.27.

Chevron Stock Performance

Shares of CVX stock opened at $156.39 on Thursday. The stock has a market capitalization of $281.05 billion, a PE ratio of 17.19, a price-to-earnings-growth ratio of 1.45 and a beta of 1.12. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $167.11. The stock’s 50-day moving average price is $154.09 and its 200 day moving average price is $151.07. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, topping the consensus estimate of $2.47 by $0.04. The business had revenue of $50.67 billion during the quarter, compared to analysts’ expectations of $48.86 billion. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The company’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.05 earnings per share. As a group, equities research analysts forecast that Chevron Co. will post 10.18 EPS for the current year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th were issued a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 4.17%. The ex-dividend date of this dividend was Monday, November 18th. Chevron’s payout ratio is 71.65%.

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.