Chevron Co. (NYSE:CVX) Shares Bought by Armstrong Fleming & Moore Inc

Armstrong Fleming & Moore Inc boosted its holdings in shares of Chevron Co. (NYSE:CVX) by 4.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,762 shares of the oil and gas company’s stock after purchasing an additional 540 shares during the period. Chevron makes up approximately 1.1% of Armstrong Fleming & Moore Inc’s holdings, making the stock its 19th biggest position. Armstrong Fleming & Moore Inc’s holdings in Chevron were worth $1,848,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Fjell Capital LLC purchased a new stake in shares of Chevron during the fourth quarter valued at $890,000. DMKC Advisory Services LLC acquired a new stake in Chevron during the 4th quarter worth about $1,793,000. Advisor OS LLC boosted its holdings in shares of Chevron by 23.5% in the fourth quarter. Advisor OS LLC now owns 4,966 shares of the oil and gas company’s stock worth $719,000 after buying an additional 945 shares during the period. Lake Street Advisors Group LLC increased its position in shares of Chevron by 67.2% in the fourth quarter. Lake Street Advisors Group LLC now owns 25,372 shares of the oil and gas company’s stock worth $3,675,000 after acquiring an additional 10,200 shares in the last quarter. Finally, Bradley & Co. Private Wealth Management LLC acquired a new stake in shares of Chevron during the fourth quarter valued at approximately $46,000. 72.42% of the stock is currently owned by institutional investors.

Chevron Stock Performance

CVX opened at $156.38 on Wednesday. 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 company has a market cap of $281.04 billion, a PE ratio of 16.09, a price-to-earnings-growth ratio of 1.46 and a beta of 1.11. The stock has a 50-day moving average of $152.30 and a 200-day moving average of $151.28. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $167.11.

Chevron (NYSE:CVX) last announced its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.36). Chevron had a return on equity of 11.44% and a net margin of 8.71%. During the same period in the prior year, the firm posted $3.45 EPS. As a group, equities research analysts forecast that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be issued a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 4.37%. This is a boost from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date is Friday, February 14th. Chevron’s dividend payout ratio is 70.37%.

Insider Activity

In other news, VP Jeff B. Gustavson sold 9,325 shares of the firm’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $152.50, for a total value of $1,422,062.50. Following the sale, the vice president now owns 1,057 shares in the company, valued at approximately $161,192.50. This trade represents a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts recently commented on CVX shares. DZ Bank raised shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective for the company in a research note on Tuesday, November 5th. Wells Fargo & Company lowered their price target on Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Barclays dropped their price target on Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. Citigroup raised Chevron from a “neutral” rating to a “buy” rating and lifted their target price for the company from $145.00 to $185.00 in a research note on Tuesday, November 26th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $175.00 price target on shares of Chevron in a research report on Monday, February 3rd. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $174.13.

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.