Oak Harvest Investment Services Has $8.71 Million Stock Position in Chevron Co. (NYSE:CVX)

Oak Harvest Investment Services grew its holdings in Chevron Co. (NYSE:CVX) by 0.5% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 55,711 shares of the oil and gas company’s stock after purchasing an additional 261 shares during the period. Chevron comprises approximately 1.5% of Oak Harvest Investment Services’ investment portfolio, making the stock its 22nd biggest holding. Oak Harvest Investment Services’ holdings in Chevron were worth $8,714,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in CVX. Kapstone Financial Advisors LLC boosted its holdings in shares of Chevron by 5.3% in the 4th quarter. Kapstone Financial Advisors LLC now owns 4,216 shares of the oil and gas company’s stock valued at $626,000 after buying an additional 211 shares during the last quarter. Eagle Capital Management LLC grew its position in shares of Chevron by 0.5% in the 1st quarter. Eagle Capital Management LLC now owns 34,455 shares of the oil and gas company’s stock valued at $5,435,000 after acquiring an additional 163 shares during the period. Lane & Associates LLC bought a new position in shares of Chevron in the 1st quarter valued at about $345,000. Guyasuta Investment Advisors Inc. increased its stake in shares of Chevron by 1.7% during the 4th quarter. Guyasuta Investment Advisors Inc. now owns 216,593 shares of the oil and gas company’s stock worth $32,307,000 after purchasing an additional 3,603 shares during the last quarter. Finally, Seven Mile Advisory raised its holdings in shares of Chevron by 9.8% in the 4th quarter. Seven Mile Advisory now owns 2,766 shares of the oil and gas company’s stock valued at $413,000 after purchasing an additional 247 shares during the period. Institutional investors own 72.42% of the company’s stock.

Chevron Price Performance

Chevron stock traded up $0.66 during mid-day trading on Wednesday, reaching $145.35. The company had a trading volume of 5,982,982 shares, compared to its average volume of 7,875,729. The business has a fifty day simple moving average of $153.39 and a 200 day simple moving average of $155.96. The company has a market cap of $265.83 billion, a P/E ratio of 13.37, a P/E/G ratio of 2.46 and a beta of 1.10. Chevron Co. has a fifty-two week low of $139.62 and a fifty-two week high of $171.70. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($0.38). Chevron had a net margin of 9.31% and a return on equity of 13.70%. The firm had revenue of $51.18 billion for the quarter, compared to analyst estimates of $48.68 billion. During the same period last year, the business earned $3.08 EPS. The company’s revenue was up 4.7% compared to the same quarter last year. On average, equities research analysts predict that Chevron Co. will post 11.96 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th will be paid a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 4.49%. The ex-dividend date is Monday, August 19th. Chevron’s dividend payout ratio is currently 59.98%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CVX. Scotiabank dropped their price objective on Chevron from $195.00 to $180.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 12th. Wolfe Research initiated coverage on Chevron in a research note on Thursday, July 18th. They set a “peer perform” rating for the company. Royal Bank of Canada dropped their price target on Chevron from $190.00 to $180.00 and set an “outperform” rating on the stock in a research note on Monday, August 5th. HSBC lifted their price objective on shares of Chevron from $175.00 to $178.00 and gave the stock a “buy” rating in a research report on Tuesday, April 30th. Finally, Barclays cut their target price on shares of Chevron from $203.00 to $185.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Chevron currently has an average rating of “Moderate Buy” and an average target price of $183.82.

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.