Bar Harbor Wealth Management Has $14.41 Million Position in Chevron Co. (NYSE:CVX)

Bar Harbor Wealth Management trimmed its stake in shares of Chevron Co. (NYSE:CVX) by 1.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 97,826 shares of the oil and gas company’s stock after selling 971 shares during the quarter. Bar Harbor Wealth Management’s holdings in Chevron were worth $14,407,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Anfield Capital Management LLC lifted its stake in shares of Chevron by 118.0% in the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock valued at $34,000 after acquiring an additional 118 shares during the last quarter. Cyrus J. Lawrence LLC raised its position in Chevron by 66.7% in the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 100 shares during the last quarter. Dixon Mitchell Investment Counsel Inc. acquired a new stake in shares of Chevron during the first quarter valued at about $55,000. Richardson Capital Management LLC bought a new stake in shares of Chevron during the first quarter worth about $58,000. Finally, MFA Wealth Advisors LLC acquired a new stake in Chevron during the 2nd quarter worth approximately $59,000. Institutional investors own 72.42% of the company’s stock.

Chevron Price Performance

CVX stock opened at $151.19 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85. The company’s 50-day moving average is $145.96 and its 200-day moving average is $153.76. The stock has a market capitalization of $276.51 billion, a PE ratio of 14.97, a price-to-earnings-growth ratio of 2.74 and a beta of 1.09. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $170.17.

Chevron (NYSE:CVX) last issued its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). Chevron had a return on equity of 13.70% and a net margin of 9.31%. The firm had revenue of $51.18 billion during the quarter, compared to the consensus estimate of $48.68 billion. During the same quarter in the prior year, the business earned $3.08 earnings per share. Chevron’s revenue for the quarter was up 4.7% on a year-over-year basis. Equities research analysts expect that Chevron Co. will post 11.06 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were issued a $1.63 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.31%. Chevron’s dividend payout ratio is presently 64.55%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on CVX shares. Wells Fargo & Company dropped their price target on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research note on Friday, September 27th. Mizuho reduced their price target on Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. Sanford C. Bernstein cut Chevron from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $183.00 to $167.00 in a research note on Wednesday, July 17th. Wolfe Research started coverage on Chevron in a research note on Thursday, July 18th. They issued a “peer perform” rating on the stock. Finally, Bank of America assumed coverage on shares of Chevron in a report on Thursday. They set a “buy” rating and a $168.00 price target for the company. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $173.07.

About Chevron

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.