Clear Harbor Asset Management LLC Buys 2,870 Shares of Chevron Co. (NYSE:CVX)

Clear Harbor Asset Management LLC boosted its holdings in Chevron Co. (NYSE:CVX - Free Report) by 16.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,600 shares of the oil and gas company's stock after acquiring an additional 2,870 shares during the quarter. Clear Harbor Asset Management LLC's holdings in Chevron were worth $2,984,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Mill Creek Capital Advisors LLC increased its holdings in shares of Chevron by 3.2% during the second quarter. Mill Creek Capital Advisors LLC now owns 4,214 shares of the oil and gas company's stock worth $659,000 after buying an additional 131 shares in the last quarter. Wescott Financial Advisory Group LLC increased its holdings in Chevron by 14.3% during the 2nd quarter. Wescott Financial Advisory Group LLC now owns 3,277 shares of the oil and gas company's stock valued at $513,000 after purchasing an additional 411 shares in the last quarter. Zurich Insurance Group Ltd FI bought a new position in Chevron in the 2nd quarter valued at $57,992,000. Fred Alger Management LLC boosted its stake in Chevron by 7.4% in the second quarter. Fred Alger Management LLC now owns 64,073 shares of the oil and gas company's stock worth $10,022,000 after purchasing an additional 4,435 shares in the last quarter. Finally, Merewether Investment Management LP bought a new stake in shares of Chevron during the second quarter worth $45,941,000. Institutional investors and hedge funds own 72.42% of the company's stock.

Chevron Trading Down 1.2 %

CVX opened at $156.39 on Thursday. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11. The firm has a market cap of $281.05 billion, a PE ratio of 17.19, a price-to-earnings-growth ratio of 1.39 and a beta of 1.12. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The firm's fifty day moving average is $154.05 and its two-hundred day moving average is $151.11.

Chevron (NYSE:CVX - Get Free Report) last issued its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, topping the consensus estimate of $2.47 by $0.04. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The business had revenue of $50.67 billion for the quarter, compared to the consensus estimate of $48.86 billion. During the same quarter last year, the business posted $3.05 EPS. The firm's revenue was down 6.3% compared to the same quarter last year. Equities research analysts anticipate that Chevron Co. will post 10.18 EPS for the current year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 18th were paid a dividend of $1.63 per share. The ex-dividend date was Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a yield of 4.17%. Chevron's payout ratio is 71.65%.

Insiders Place Their Bets

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the business's stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total value of $26,357,398.00. Following the sale, the chief executive officer now owns 4,280 shares in the company, valued at approximately $685,356.40. The trade was a 97.47 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.20% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Barclays lifted their price target on Chevron from $168.00 to $174.00 and gave the company an "overweight" rating in a report on Monday, November 4th. Scotiabank dropped their target price on shares of Chevron from $180.00 to $163.00 and set a "sector outperform" rating for the company in a research note on Thursday, October 10th. Wells Fargo & Company increased their price target on shares of Chevron from $171.00 to $188.00 and gave the company an "overweight" rating in a research note on Monday, December 9th. Citigroup upgraded shares of Chevron from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $145.00 to $185.00 in a research report on Tuesday, November 26th. Finally, UBS Group boosted their target price on Chevron from $194.00 to $195.00 and gave the stock a "buy" rating in a research report on Tuesday, December 3rd. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, Chevron currently has a consensus rating of "Moderate Buy" and a consensus price target of $175.27.

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.