Harfst & Associates Inc. Sells 138 Shares of Chevron Corporation (NYSE:CVX)

Harfst & Associates Inc. decreased its holdings in shares of Chevron Corporation (NYSE:CVX) by 1.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,221 shares of the oil and gas company’s stock after selling 138 shares during the period. Harfst & Associates Inc.’s holdings in Chevron were worth $2,044,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. CoreCap Advisors LLC boosted its position in shares of Chevron by 0.3% during the 4th quarter. CoreCap Advisors LLC now owns 28,248 shares of the oil and gas company’s stock valued at $4,091,000 after purchasing an additional 71 shares in the last quarter. Clayton Financial Group LLC boosted its holdings in Chevron by 4.6% in the first quarter. Clayton Financial Group LLC now owns 1,702 shares of the oil and gas company’s stock worth $285,000 after acquiring an additional 75 shares in the last quarter. Gill Capital Partners LLC boosted its holdings in Chevron by 4.9% in the first quarter. Gill Capital Partners LLC now owns 1,619 shares of the oil and gas company’s stock worth $271,000 after acquiring an additional 75 shares in the last quarter. Cordatus Wealth Management LLC boosted its holdings in Chevron by 0.4% in the first quarter. Cordatus Wealth Management LLC now owns 19,723 shares of the oil and gas company’s stock worth $3,299,000 after acquiring an additional 76 shares in the last quarter. Finally, Requisite Capital Management LLC boosted its holdings in Chevron by 1.2% in the first quarter. Requisite Capital Management LLC now owns 6,362 shares of the oil and gas company’s stock worth $1,064,000 after acquiring an additional 77 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

Shares of CVX opened at $155.75 on Thursday. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $269.13 billion, a price-to-earnings ratio of 20.05, a PEG ratio of 2.31 and a beta of 0.87. The stock has a 50 day moving average of $149.43 and a 200 day moving average of $148.60. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $168.96.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, beating analysts’ consensus estimates of $1.58 by $0.19. The company had revenue of $44.82 billion during the quarter, compared to the consensus estimate of $44.59 billion. Chevron had a return on equity of 9.90% and a net margin of 7.02%. Chevron’s revenue was down 12.4% on a year-over-year basis. During the same period last year, the business posted $2.55 earnings per share. As a group, sell-side analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th will be paid a dividend of $1.71 per share. The ex-dividend date is Tuesday, August 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.4%. Chevron’s dividend payout ratio (DPR) is presently 88.03%.

Analyst Upgrades and Downgrades

CVX has been the topic of several recent research reports. TD Cowen increased their price target on Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a report on Monday, August 4th. UBS Group reiterated a “buy” rating and issued a $186.00 price target (up previously from $177.00) on shares of Chevron in a report on Monday, August 4th. Barclays reiterated an “equal weight” rating on shares of Chevron in a report on Tuesday, July 15th. Evercore ISI reiterated an “outperform” rating and issued a $180.00 price target on shares of Chevron in a report on Thursday, July 31st. Finally, Scotiabank reiterated a “sector perform” rating and issued a $160.00 price target (up previously from $143.00) on shares of Chevron in a report on Friday, July 11th. Three analysts have rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $164.11.

Chevron 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.