FLC Capital Advisors Purchases 23,714 Shares of Chevron Co. (NYSE:CVX)

FLC Capital Advisors boosted its stake in Chevron Co. (NYSE:CVX) by 101.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 47,077 shares of the oil and gas company’s stock after purchasing an additional 23,714 shares during the quarter. Chevron comprises approximately 1.9% of FLC Capital Advisors’ holdings, making the stock its 13th largest holding. FLC Capital Advisors’ holdings in Chevron were worth $7,022,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also bought and sold shares of CVX. Picton Mahoney Asset Management bought a new position in Chevron in the 3rd quarter worth about $26,000. Valley Forge Investment Consultants Inc. ADV raised its holdings in shares of Chevron by 80.0% during the third quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock worth $30,000 after purchasing an additional 80 shares during the last quarter. Valued Wealth Advisors LLC acquired a new stake in shares of Chevron in the fourth quarter valued at about $33,000. DHJJ Financial Advisors Ltd. acquired a new position in Chevron during the third quarter worth about $35,000. Finally, Worth Asset Management LLC acquired a new position in Chevron during the first quarter worth about $36,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

Shares of CVX stock traded up $1.39 during trading on Thursday, reaching $157.74. 8,239,535 shares of the company’s stock were exchanged, compared to its average volume of 8,777,168. The firm’s fifty day moving average price is $151.60 and its 200-day moving average price is $152.67. The stock has a market capitalization of $292.97 billion, a PE ratio of 13.90, a PEG ratio of 2.38 and a beta of 1.12. Chevron Co. has a twelve month low of $139.62 and a twelve month high of $172.88. The company has a quick ratio of 1.01, a current ratio of 1.27 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share for the quarter, topping the consensus estimate of $3.19 by $0.26. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The business had revenue of $47.18 billion during the quarter, compared to the consensus estimate of $50.93 billion. During the same period in the prior year, the company earned $4.09 EPS. Chevron’s revenue for the quarter was down 16.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Chevron Co. will post 13.04 EPS for the current year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Friday, February 16th were paid a $1.63 dividend. This is a boost from Chevron’s previous quarterly dividend of $1.51. The ex-dividend date was Thursday, February 15th. This represents a $6.52 annualized dividend and a dividend yield of 4.13%. Chevron’s dividend payout ratio is presently 57.39%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CVX. DZ Bank downgraded shares of Chevron from a “buy” rating to a “hold” rating and set a $160.00 price target on the stock. in a research note on Tuesday, February 6th. Jefferies Financial Group upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $184.00 price objective for the company in a research report on Monday, January 8th. UBS Group cut their price target on shares of Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a report on Thursday, December 14th. TD Cowen cut shares of Chevron from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $170.00 to $150.00 in a research note on Tuesday, January 23rd. Finally, Scotiabank cut shares of Chevron from a “sector outperform” rating to a “sector perform” rating and set a $170.00 price target on the stock. in a research note on Tuesday, January 16th. Seven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $180.39.

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.