Bar Harbor Wealth Management Sells 8,401 Shares of Chevron Corporation $CVX

Bar Harbor Wealth Management trimmed its stake in Chevron Corporation (NYSE:CVX) by 10.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 73,688 shares of the oil and gas company’s stock after selling 8,401 shares during the period. Chevron comprises about 0.9% of Bar Harbor Wealth Management’s investment portfolio, making the stock its 29th biggest position. Bar Harbor Wealth Management’s holdings in Chevron were worth $15,246,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in CVX. Phillip James Consulting Co. acquired a new stake in shares of Chevron in the 4th quarter valued at $26,000. Core Wealth Advisors LLC bought a new stake in Chevron during the fourth quarter worth about $26,000. Karpus Management Inc. bought a new stake in Chevron during the fourth quarter worth about $27,000. Basso Capital Management L.P. acquired a new stake in shares of Chevron during the fourth quarter worth approximately $27,000. Finally, Quattro Advisors LLC acquired a new stake in shares of Chevron during the fourth quarter worth approximately $27,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Price Performance

Shares of CVX opened at $171.73 on Thursday. The stock has a market cap of $342.02 billion, a P/E ratio of 29.76, a price-to-earnings-growth ratio of 0.58 and a beta of 0.48. The stock’s 50-day moving average price is $185.68 and its two-hundred day moving average price is $179.68. The company has a current ratio of 1.09, a quick ratio of 0.84 and a debt-to-equity ratio of 0.21. Chevron Corporation has a 1 year low of $142.40 and a 1 year high of $214.71.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.41. The business had revenue of $47.56 billion for the quarter, compared to analyst estimates of $51.86 billion. Chevron had a net margin of 5.79% and a return on equity of 6.90%. Chevron’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the firm earned $2.18 EPS. On average, equities analysts predict that Chevron Corporation will post 15.88 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 19th were issued a $1.78 dividend. The ex-dividend date was Tuesday, May 19th. This represents a $7.12 annualized dividend and a yield of 4.1%. Chevron’s dividend payout ratio (DPR) is 123.40%.

Analysts Set New Price Targets

CVX has been the topic of several recent analyst reports. Barclays boosted their target price on Chevron from $192.00 to $213.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 26th. Citigroup increased their target price on Chevron from $210.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, April 2nd. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $220.00 price target on shares of Chevron in a report on Tuesday, May 5th. UBS Group reiterated a “buy” rating on shares of Chevron in a research report on Tuesday. Finally, Piper Sandler boosted their target price on shares of Chevron from $179.00 to $242.00 and gave the stock an “overweight” rating in a research note on Thursday, March 12th. Eighteen investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $205.70.

More Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron’s 20-year power deal with Microsoft for a large natural-gas-powered data center project is being viewed as a potentially significant new growth platform, opening a long-duration revenue opportunity tied to AI infrastructure. Chevron and Microsoft Partner on Landmark Texas AI Power Project
• Positive Sentiment: Texas Pacific Land’s agreement to provide land and water support for Chevron’s large-scale power project suggests the initiative is moving forward and could strengthen investor confidence in Chevron’s expansion into data-center power. Texas Pacific Land Partners with Chevron on Data Center Project
• Neutral Sentiment: Analyst coverage continues to focus on Chevron’s position versus Shell and other energy peers, keeping attention on the company’s relative valuation and growth profile. Analysts Offer Insights on Energy Companies: Chevron (CVX) and Shell (SHEL)
• Negative Sentiment: Crude oil weakness is pressuring the broader energy group, which can weigh on Chevron’s near-term earnings outlook and sentiment toward the stock. Peabody Energy and Crescent Energy Shares Are Falling, What You Need To Know
• Negative Sentiment: News that President Trump said Chevron is among firms being probed over gasoline-price spikes adds regulatory risk and could raise investor concerns about possible investigations or political pressure. Trump says Exxon, Chevron among firms probed as part of surge in gas prices

Insiders Place Their Bets

In related news, insider R. Hewitt Pate sold 40,200 shares of the firm’s stock in a transaction on Monday, March 30th. The stock was sold at an average price of $213.30, for a total transaction of $8,574,660.00. Following the sale, the insider owned 8,638 shares of the company’s stock, valued at approximately $1,842,485.40. This trade represents a 82.31% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John B. Hess sold 380,000 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $193.20, for a total value of $73,416,000.00. Following the sale, the director directly owned 278,045 shares in the company, valued at approximately $53,718,294. This represents a 57.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 615,200 shares of company stock worth $118,022,760. Insiders own 0.56% of the company’s stock.

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.