Chevron Corporation $CVX Shares Purchased by Oak Harvest Investment Services

Oak Harvest Investment Services lifted its stake in shares of Chevron Corporation (NYSE:CVX) by 2.7% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 66,627 shares of the oil and gas company’s stock after purchasing an additional 1,732 shares during the period. Chevron comprises about 1.2% of Oak Harvest Investment Services’ investment portfolio, making the stock its 26th biggest holding. Oak Harvest Investment Services’ holdings in Chevron were worth $9,540,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Ignite Planners LLC grew its position in Chevron by 14.1% in the 1st quarter. Ignite Planners LLC now owns 12,316 shares of the oil and gas company’s stock worth $2,060,000 after purchasing an additional 1,519 shares during the last quarter. Vista Capital Partners Inc. boosted its position in shares of Chevron by 9.1% during the first quarter. Vista Capital Partners Inc. now owns 5,938 shares of the oil and gas company’s stock worth $993,000 after buying an additional 495 shares during the period. GW&K Investment Management LLC grew its holdings in Chevron by 33.8% in the 1st quarter. GW&K Investment Management LLC now owns 1,260 shares of the oil and gas company’s stock worth $211,000 after buying an additional 318 shares in the last quarter. Solitude Financial Services increased its position in Chevron by 8.2% in the 2nd quarter. Solitude Financial Services now owns 25,325 shares of the oil and gas company’s stock valued at $3,626,000 after acquiring an additional 1,913 shares during the period. Finally, Mutual Advisors LLC raised its stake in Chevron by 7.3% during the 2nd quarter. Mutual Advisors LLC now owns 88,759 shares of the oil and gas company’s stock valued at $13,743,000 after acquiring an additional 6,058 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on CVX shares. Wells Fargo & Company started coverage on Chevron in a research note on Friday, October 17th. They issued an “overweight” rating and a $190.00 price target for the company. Jefferies Financial Group reissued a “buy” rating on shares of Chevron in a research note on Friday, July 18th. Raymond James Financial reaffirmed an “outperform” rating and issued a $160.00 price target (down from $170.00) on shares of Chevron in a research note on Friday, October 17th. Piper Sandler lowered their price objective on shares of Chevron from $171.00 to $169.00 and set an “overweight” rating on the stock in a research note on Monday. Finally, Morgan Stanley upped their target price on Chevron from $177.00 to $180.00 and gave the stock an “overweight” rating in a research report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $166.25.

Insider Activity at Chevron

In related news, VP Alana K. Knowles sold 3,978 shares of Chevron stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $160.00, for a total transaction of $636,480.00. Following the completion of the transaction, the vice president directly owned 1,181 shares of the company’s stock, valued at $188,960. This trade represents a 77.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John B. Hess sold 375,000 shares of the stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $158.30, for a total transaction of $59,362,500.00. Following the sale, the director directly owned 1,403,045 shares in the company, valued at $222,102,023.50. This trade represents a 21.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.21% of the stock is owned by company insiders.

Chevron Trading Up 1.4%

NYSE CVX opened at $155.42 on Friday. The firm’s 50 day moving average price is $155.19 and its two-hundred day moving average price is $150.10. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96. The stock has a market cap of $312.95 billion, a price-to-earnings ratio of 20.00, a PEG ratio of 4.40 and a beta of 0.83.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, October 31st. The oil and gas company reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.71 by $0.14. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The firm had revenue of $48.17 billion for the quarter, compared to analyst estimates of $46.99 billion. During the same quarter in the prior year, the business earned $2.48 EPS. The company’s revenue for the quarter was down 1.9% compared to the same quarter last year. Equities analysts anticipate that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Tuesday, November 18th will be paid a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.4%. The ex-dividend date is Tuesday, November 18th. Chevron’s dividend payout ratio is currently 96.20%.

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.