Safe Harbor Fiduciary LLC Acquires New Holdings in Chevron Co. (NYSE:CVX)

Safe Harbor Fiduciary LLC acquired a new stake in shares of Chevron Co. (NYSE:CVX) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 6,942 shares of the oil and gas company’s stock, valued at approximately $1,022,000. Chevron accounts for approximately 1.0% of Safe Harbor Fiduciary LLC’s investment portfolio, making the stock its 25th biggest position.

Several other institutional investors and hedge funds also recently made changes to their positions in CVX. Rational Advisors LLC bought a new stake in shares of Chevron in the third quarter worth $29,000. Darwin Wealth Management LLC bought a new stake in shares of Chevron in the third quarter worth $30,000. RPg Family Wealth Advisory LLC bought a new stake in shares of Chevron in the third quarter worth $31,000. Anfield Capital Management LLC raised its position in Chevron by 118.0% during the second quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock worth $34,000 after acquiring an additional 118 shares in the last quarter. Finally, Cyrus J. Lawrence LLC raised its position in 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 acquiring an additional 100 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Down 2.2 %

Shares of NYSE CVX opened at $158.32 on Thursday. The company has a 50 day simple moving average of $154.23 and a 200 day simple moving average of $152.50. The firm has a market cap of $284.52 billion, a PE ratio of 17.40, a price-to-earnings-growth ratio of 3.57 and a beta of 1.10. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The firm had revenue of $50.67 billion during the quarter, compared to analyst estimates of $48.86 billion. During the same quarter last year, the business earned $3.05 EPS. The company’s revenue was down 6.3% compared to the same quarter last year. On average, research analysts forecast that Chevron Co. will post 10.53 EPS for the current year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be issued a dividend of $1.63 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $6.52 annualized dividend and a yield of 4.12%. Chevron’s payout ratio is 71.65%.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Barclays upped their price target on shares of Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Wells Fargo & Company dropped their price target on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a research report on Friday, September 27th. Mizuho dropped their price target 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. UBS Group upped their price target on shares of Chevron from $194.00 to $195.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Scotiabank dropped their price objective on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, Chevron presently has an average rating of “Moderate Buy” and an average target price of $175.63.

Insiders Place Their Bets

In other news, CEO Michael K. Wirth sold 164,600 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the completion of the sale, the chief executive officer now owns 4,280 shares of the company’s stock, valued at $685,356.40. This trade represents a 97.47 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.20% of the company’s stock.

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.