Private Harbour Investment Management & Counsel LLC Sells 4,365 Shares of Chevron Corporation $CVX

Private Harbour Investment Management & Counsel LLC lowered its position in Chevron Corporation (NYSE:CVX) by 35.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,917 shares of the oil and gas company’s stock after selling 4,365 shares during the quarter. Chevron accounts for approximately 1.6% of Private Harbour Investment Management & Counsel LLC’s investment portfolio, making the stock its 21st largest position. Private Harbour Investment Management & Counsel LLC’s holdings in Chevron were worth $1,312,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Midwest Capital Advisors LLC acquired a new position in Chevron in the 1st quarter valued at approximately $25,000. Core Wealth Advisors LLC acquired a new position in shares of Chevron during the fourth quarter worth $26,000. Phillip James Consulting Co. acquired a new position in shares of Chevron during the fourth quarter worth $26,000. Basso Capital Management L.P. bought a new stake in shares of Chevron in the fourth quarter worth $27,000. Finally, Karpus Management Inc. acquired a new stake in Chevron in the fourth quarter valued at $27,000. Institutional investors own 72.42% of the company’s stock.

Chevron Trading Up 1.1%

Shares of Chevron stock opened at $202.04 on Friday. The stock has a market capitalization of $399.18 billion, a PE ratio of 19.37, a price-to-earnings-growth ratio of 0.60 and a beta of 0.49. Chevron Corporation has a 52 week low of $146.49 and a 52 week high of $214.71. The stock has a 50 day moving average price of $187.44 and a two-hundred day moving average price of $188.85. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.98 and a current ratio of 1.25.

Chevron (NYSE:CVX) last issued its earnings results on Friday, July 31st. The oil and gas company reported $6.06 earnings per share for the quarter, topping analysts’ consensus estimates of $5.55 by $0.51. Chevron had a return on equity of 11.09% and a net margin of 9.57%.The company had revenue of $67.20 billion for the quarter, compared to analyst estimates of $62.72 billion. During the same period in the prior year, the firm earned $1.77 earnings per share. Chevron’s revenue for the quarter was up 57.4% on a year-over-year basis. As a group, equities analysts anticipate that Chevron Corporation will post 16.24 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be issued a dividend of $1.78 per share. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Wednesday, August 19th. Chevron’s dividend payout ratio (DPR) is currently 68.26%.

Analyst Upgrades and Downgrades

CVX has been the topic of several recent research reports. TD Cowen lifted their target price on Chevron from $200.00 to $205.00 and gave the stock a “hold” rating in a report on Wednesday, August 5th. Wolfe Research raised shares of Chevron from a “peer perform” rating to an “outperform” rating and set a $210.00 price target on the stock in a research report on Thursday, July 2nd. Zacks Research downgraded Chevron from a “strong-buy” rating to a “hold” rating in a report on Monday, June 8th. Morgan Stanley increased their target price on shares of Chevron from $210.00 to $218.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 19th. Finally, Piper Sandler initiated coverage on shares of Chevron in a research note on Thursday, July 23rd. They issued an “overweight” rating and a $207.00 price target for the company. Twenty analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $207.48.

Insider Buying and Selling at Chevron

In other news, insider R. Hewitt Pate sold 2,470 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $205.11, for a total value of $506,621.70. Following the transaction, the insider owned 10,794 shares in the company, valued at $2,213,957.34. This trade represents a 18.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Andrew Benjamin Walz sold 16,800 shares of the company’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $201.06, for a total value of $3,377,808.00. Following the sale, the insider owned 14 shares of the company’s stock, valued at $2,814.84. This trade represents a 99.92% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 1,152,582 shares of company stock valued at $225,853,661 over the last three months. Corporate insiders own 0.56% of the company’s stock.

Chevron News Roundup

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron is reportedly nearing a deal to migrate all of its Venezuelan joint ventures into a new energy framework, potentially allowing greater operational control and key oilfield expansions. The company already accounts for roughly one-quarter of Venezuela’s oil production. Reuters: Chevron to complete deal in Venezuela to migrate, expand oil projects
• Positive Sentiment: Reports indicate Chevron and oil-services company Halliburton are close to agreements to invest billions of dollars in Venezuelan fields. For Chevron, the opportunity could create a long-term production-growth platform and strengthen its position if Venezuela moves further away from OPEC restrictions. Wall Street Journal: Chevron, Other U.S. Firms Near Deal to Invest Billions in Venezuelan Oil Fields
• Neutral Sentiment: Analyst-oriented coverage is comparing Chevron’s performance with TotalEnergies, while other reports highlight Chevron’s investments in nuclear-fusion technology. Fusion could eventually diversify the company beyond hydrocarbons, but the projects remain experimental and are unlikely to materially affect near-term earnings. Yahoo Finance: What Does Chevron Want From Its Nuclear Fusion Push?
• Negative Sentiment: Venezuelan opposition groups have criticized reports that U.S. companies could receive a large stake in the country’s energy industry. Political resistance, sanctions or regulatory uncertainty could delay the agreement, raise investment costs or limit the expected benefits. The Guardian: Venezuelan opposition reacts to potential U.S. oil stake
• Negative Sentiment: Dividend-focused coverage notes that Chevron’s payout remains exposed to commodity-price cycles. Although the dividend is supported by the company’s scale and balance sheet, weaker oil prices or heavy Venezuelan investment requirements could pressure future cash-flow flexibility. 247WallSt: Chevron or PepsiCo: Whose Dividend Is Standing on Thinner Ice?

Chevron Profile

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.