Chevron Co. (NYSE:CVX) Shares Sold by Oak Harbor Wealth Partners LLC

Oak Harbor Wealth Partners LLC cut its holdings in shares of Chevron Co. (NYSE:CVX) by 2.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,189 shares of the oil and gas company’s stock after selling 204 shares during the quarter. Oak Harbor Wealth Partners LLC’s holdings in Chevron were worth $1,206,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CVX. Rational Advisors LLC purchased a new position in Chevron in the third quarter valued at $29,000. Anfield Capital Management LLC boosted its stake in shares of Chevron by 118.0% in the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock valued at $34,000 after buying an additional 118 shares during the period. Cyrus J. Lawrence LLC grew its position in shares of Chevron by 66.7% during the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after buying an additional 100 shares in the last quarter. Krane Funds Advisors LLC purchased a new stake in shares of Chevron during the third quarter worth approximately $47,000. Finally, Livelsberger Financial Advisory acquired a new stake in Chevron in the third quarter valued at approximately $47,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

Shares of CVX stock opened at $161.77 on Friday. The stock’s 50-day moving average price is $148.51 and its 200 day moving average price is $152.65. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $290.72 billion, a PE ratio of 17.78, a price-to-earnings-growth ratio of 3.57 and a beta of 1.09. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $167.11.

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. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The business had revenue of $50.67 billion during the quarter, compared to analysts’ expectations of $48.86 billion. During the same quarter in the prior year, the business earned $3.05 earnings per share. The company’s quarterly revenue was down 6.3% compared to the same quarter last year. As a group, equities research analysts forecast that Chevron Co. will post 10.55 EPS for the current year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be issued a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 4.03%. The ex-dividend date of this dividend is Monday, November 18th. Chevron’s payout ratio is 71.65%.

Analyst Ratings Changes

A number of brokerages have commented on CVX. Mizuho dropped their price objective on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. Bank of America started coverage on Chevron in a report on Thursday, October 17th. They set a “buy” rating and a $168.00 price target for the company. Royal Bank of Canada increased their price objective on Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Wolfe Research began coverage on Chevron in a research note on Thursday, July 18th. They set a “peer perform” rating for the company. Finally, DZ Bank upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target on the stock in a research note on Tuesday, November 5th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $174.93.

About Chevron

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.