Everett Harris & Co. CA Buys Shares of 531,337 Chevron Corporation $CVX

Everett Harris & Co. CA purchased a new stake in shares of Chevron Corporation (NYSE:CVX) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 531,337 shares of the oil and gas company’s stock, valued at approximately $88,074,000. Chevron accounts for approximately 1.1% of Everett Harris & Co. CA’s portfolio, making the stock its 19th biggest holding.

Several other institutional investors have also modified their holdings of the company. Midwest Capital Advisors LLC bought a new stake in Chevron in the 1st quarter valued at about $25,000. Main Street Group LTD bought a new position in Chevron in the 1st quarter worth about $28,000. Phillip James Consulting Co. bought a new position in Chevron in the 4th quarter worth about $26,000. Core Wealth Advisors LLC bought a new position in Chevron in the 4th quarter worth about $26,000. Finally, Karpus Management Inc. acquired a new stake in shares of Chevron in the fourth quarter valued at approximately $27,000. Institutional investors own 72.42% of the company’s stock.

Insider Activity at Chevron

In other Chevron news, CEO Michael K. Wirth sold 5,547 shares of the company’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $187.00, for a total value of $1,037,289.00. Following the completion of the sale, the chief executive officer directly owned 26,308 shares in the company, valued at $4,919,596. This represents a 17.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John B. Hess sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $194.26, for a total value of $19,426,000.00. Following the completion of the sale, the director owned 178,045 shares of the company’s stock, valued at $34,587,021.70. This trade represents a 35.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 1,196,212 shares of company stock worth $231,819,366. 0.56% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

CVX has been the topic of a number of recent analyst reports. Morgan Stanley cut their price target on Chevron from $214.00 to $210.00 and set an “overweight” rating on the stock in a report on Monday, June 29th. The Goldman Sachs Group reissued a “buy” rating and issued a $216.00 price objective on shares of Chevron in a report on Wednesday, May 6th. Jefferies Financial Group restated a “buy” rating and issued a $216.00 target price on shares of Chevron in a research report on Friday, July 10th. Bank of America lifted their target price on Chevron from $210.00 to $227.00 and gave the company a “buy” rating in a research note on Tuesday, July 28th. Finally, Weiss Ratings upgraded Chevron from a “hold (c)” rating to a “buy (b)” rating in a research report on Tuesday. Twenty equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $207.48.

Chevron Stock Up 1.2%

Chevron stock opened at $199.99 on Friday. Chevron Corporation has a 52 week low of $146.49 and a 52 week high of $214.71. The stock has a market cap of $395.13 billion, a price-to-earnings ratio of 19.17, a PEG ratio of 0.60 and a beta of 0.49. The company’s 50-day moving average price is $183.30 and its two-hundred day moving average price is $186.88. The company has a current ratio of 1.25, a quick ratio of 0.98 and a debt-to-equity ratio of 0.19.

Chevron (NYSE:CVX) last issued its quarterly 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. The company had revenue of $67.20 billion during the quarter, compared to analyst estimates of $62.72 billion. Chevron had a net margin of 9.57% and a return on equity of 11.09%. The business’s revenue for the quarter was up 57.4% compared to the same quarter last year. During the same period in the prior year, the business posted $1.77 EPS. On average, analysts expect that Chevron Corporation will post 15.86 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be issued a dividend of $1.78 per share. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $7.12 annualized dividend and a yield of 3.6%. Chevron’s payout ratio is presently 68.26%.

About Chevron

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.