Oak Harbor Wealth Partners LLC Raises Stock Holdings in Chevron Co. (NYSE:CVX)

Oak Harbor Wealth Partners LLC boosted its stake in Chevron Co. (NYSE:CVX) by 2.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,577 shares of the oil and gas company’s stock after purchasing an additional 239 shares during the quarter. Oak Harbor Wealth Partners LLC’s holdings in Chevron were worth $1,279,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. WealthPlan Investment Management LLC lifted its stake in Chevron by 2,493.2% during the third quarter. WealthPlan Investment Management LLC now owns 53,550 shares of the oil and gas company’s stock worth $9,030,000 after purchasing an additional 51,485 shares during the last quarter. Compass Ion Advisors LLC bought a new stake in Chevron in the 3rd quarter worth approximately $949,000. Advisor OS LLC boosted its stake in Chevron by 3.8% in the third quarter. Advisor OS LLC now owns 4,283 shares of the oil and gas company’s stock worth $722,000 after buying an additional 158 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its position in Chevron by 9.4% during the third quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 89,735 shares of the oil and gas company’s stock valued at $15,131,000 after acquiring an additional 7,738 shares during the last quarter. Finally, Welch & Forbes LLC raised its stake in shares of Chevron by 2.5% during the third quarter. Welch & Forbes LLC now owns 391,280 shares of the oil and gas company’s stock worth $65,978,000 after acquiring an additional 9,692 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Chevron

In related news, Director Enrique Hernandez, Jr. sold 2,549 shares of the stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $161.00, for a total value of $410,389.00. Following the completion of the sale, the director now directly owns 7,647 shares of the company’s stock, valued at approximately $1,231,167. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total transaction of $448,252.00. Following the sale, the vice president now owns 276 shares of the company’s stock, valued at approximately $44,184.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Enrique Hernandez, Jr. sold 2,549 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $161.00, for a total value of $410,389.00. Following the completion of the transaction, the director now owns 7,647 shares of the company’s stock, valued at $1,231,167. The disclosure for this sale can be found here. Over the last quarter, insiders sold 15,796 shares of company stock valued at $2,575,361. Company insiders own 0.20% of the company’s stock.

Chevron Stock Performance

Shares of Chevron stock traded down $0.44 during trading hours on Thursday, reaching $157.13. 3,129,977 shares of the stock traded hands, compared to its average volume of 8,140,958. Chevron Co. has a one year low of $139.62 and a one year high of $171.70. The firm has a market capitalization of $290.22 billion, a price-to-earnings ratio of 14.47, a P/E/G ratio of 2.36 and a beta of 1.11. The company has a quick ratio of 0.93, a current ratio of 1.23 and a debt-to-equity ratio of 0.13. The company has a 50 day moving average price of $160.15 and a 200 day moving average price of $152.38.

Chevron (NYSE:CVX) last announced its earnings results on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, beating analysts’ consensus estimates of $2.84 by $0.09. The business had revenue of $48.72 billion during the quarter, compared to analysts’ expectations of $48.42 billion. Chevron had a net margin of 10.21% and a return on equity of 14.40%. The firm’s revenue was down 4.1% on a year-over-year basis. During the same period in the prior year, the company earned $3.55 earnings per share. On average, equities research analysts expect that Chevron Co. will post 13.57 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 17th will be given a dividend of $1.63 per share. The ex-dividend date is Thursday, May 16th. This represents a $6.52 annualized dividend and a yield of 4.15%. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on CVX shares. Piper Sandler upped their price objective on shares of Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a research note on Thursday, April 18th. Barclays assumed coverage on shares of Chevron in a research report on Wednesday, April 10th. They set an “overweight” rating and a $203.00 price target for the company. Truist Financial boosted their target price on Chevron from $156.00 to $166.00 and gave the company a “hold” rating in a research note on Friday, May 10th. Wells Fargo & Company lifted their price target on Chevron from $198.00 to $206.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 30th. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of Chevron in a research note on Monday, April 1st. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Chevron currently has a consensus rating of “Moderate Buy” and an average target price of $186.10.

Chevron Company 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.