Chevron Co. (NYSE:CVX) Shares Acquired by FLC Capital Advisors

FLC Capital Advisors raised its holdings in shares of Chevron Co. (NYSE:CVX) by 14.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 20,441 shares of the oil and gas company’s stock after acquiring an additional 2,586 shares during the quarter. FLC Capital Advisors’ holdings in Chevron were worth $2,074,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Principal Financial Group Inc. raised its stake in Chevron by 0.7% during the 1st quarter. Principal Financial Group Inc. now owns 4,523,563 shares of the oil and gas company’s stock valued at $474,023,000 after acquiring an additional 30,987 shares during the last quarter. Hoylecohen LLC raised its stake in Chevron by 22.6% during the 1st quarter. Hoylecohen LLC now owns 117,831 shares of the oil and gas company’s stock valued at $12,348,000 after acquiring an additional 21,758 shares during the last quarter. MONECO Advisors LLC raised its stake in Chevron by 7.1% during the 1st quarter. MONECO Advisors LLC now owns 3,538 shares of the oil and gas company’s stock valued at $371,000 after acquiring an additional 236 shares during the last quarter. Paradiem LLC purchased a new stake in Chevron during the 1st quarter valued at approximately $233,000. Finally, Baker Tilly Wealth Management LLC raised its stake in Chevron by 12.9% during the 1st quarter. Baker Tilly Wealth Management LLC now owns 14,969 shares of the oil and gas company’s stock valued at $1,569,000 after acquiring an additional 1,712 shares during the last quarter. 65.55% of the stock is owned by hedge funds and other institutional investors.

NYSE:CVX opened at $115.69 on Tuesday. The stock has a market cap of $223.01 billion, a P/E ratio of 21.99, a price-to-earnings-growth ratio of 2.42 and a beta of 1.30. The firm’s fifty day simple moving average is $108.43 and its 200 day simple moving average is $104.77. Chevron Co. has a twelve month low of $83.53 and a twelve month high of $118.08. The company has a quick ratio of 1.03, a current ratio of 1.28 and a debt-to-equity ratio of 0.27.

Chevron (NYSE:CVX) last issued its earnings results on Thursday, October 28th. The oil and gas company reported $2.96 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.21 by $0.75. Chevron had a return on equity of 7.95% and a net margin of 7.10%. The business had revenue of $44.71 billion during the quarter, compared to analyst estimates of $40.89 billion. During the same quarter in the previous year, the firm earned $0.11 EPS. Chevron’s revenue was up 82.9% on a year-over-year basis. On average, analysts expect that Chevron Co. will post 8.35 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 10th. Shareholders of record on Thursday, November 18th will be paid a $1.34 dividend. The ex-dividend date of this dividend is Wednesday, November 17th. This represents a $5.36 annualized dividend and a yield of 4.63%. Chevron’s payout ratio is 103.47%.

In other Chevron news, insider David A. Inchausti sold 5,600 shares of the stock in a transaction on Wednesday, October 20th. The stock was sold at an average price of $112.01, for a total value of $627,256.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Colin E. Parfitt sold 15,000 shares of the stock in a transaction on Friday, October 29th. The stock was sold at an average price of $115.01, for a total value of $1,725,150.00. The disclosure for this sale can be found here. Insiders have sold a total of 325,651 shares of company stock worth $37,293,688 over the last ninety days. Insiders own 0.29% of the company’s stock.

Several research firms recently weighed in on CVX. Royal Bank of Canada dropped their price objective on Chevron from $135.00 to $130.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 25th. Morgan Stanley raised their price objective on Chevron from $149.00 to $155.00 and gave the company an “overweight” rating in a research report on Friday. Truist raised their price objective on Chevron from $145.00 to $150.00 and gave the company a “buy” rating in a research report on Thursday, October 7th. DZ Bank lowered Chevron from a “buy” rating to a “hold” rating and set a $110.00 target price on the stock. in a research report on Wednesday, August 4th. Finally, JPMorgan Chase & Co. downgraded Chevron from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $128.00 to $111.00 in a research note on Wednesday, September 15th. Eleven equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $120.65.

Chevron Profile

Chevron Corp. engages in the provision of administrative, financial management, and technology support for energy and chemical operations. It operates through the Upstream and Downstream segments. The Upstream segment consists of exploration, development, and production of crude oil and natural gas; liquefaction, transportation, and regasification associated with liquefied natural gas; transporting crude oil by major international oil export pipelines; processing, transporting, storage, and marketing of natural gas; and a gas-to-liquids plant.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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