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

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

Other large investors have also recently bought and sold shares of the company. Picton Mahoney Asset Management purchased a new stake in Chevron in the 3rd quarter worth approximately $26,000. Valley Forge Investment Consultants Inc. ADV raised its stake in Chevron by 80.0% in the 3rd quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock valued at $30,000 after purchasing an additional 80 shares during the last quarter. DHJJ Financial Advisors Ltd. acquired a new position in Chevron in the 3rd quarter valued at $35,000. Valued Wealth Advisors LLC acquired a new position in Chevron in the 4th quarter valued at $33,000. Finally, Worth Asset Management LLC acquired a new position in Chevron in the 1st quarter valued at $36,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

Shares of NYSE CVX traded up $1.39 during trading hours on Thursday, hitting $157.74. 8,239,535 shares of the company’s stock were exchanged, compared to its average volume of 8,777,168. Chevron Co. has a 1-year low of $139.62 and a 1-year high of $172.88. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.27 and a quick ratio of 1.01. The stock has a market capitalization of $292.97 billion, a price-to-earnings ratio of 13.90, a PEG ratio of 2.38 and a beta of 1.12. The company’s 50-day moving average price is $151.60 and its 200-day moving average price is $152.67.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $47.18 billion for the quarter, compared to analyst estimates of $50.93 billion. During the same period in the previous year, the company posted $4.09 earnings per share. The company’s quarterly revenue was down 16.5% compared to the same quarter last year. On average, sell-side analysts expect that Chevron Co. will post 13.04 earnings per share for the current fiscal year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Friday, February 16th were given a dividend of $1.63 per share. The ex-dividend date was Thursday, February 15th. This is a positive change from Chevron’s previous quarterly dividend of $1.51. This represents a $6.52 dividend on an annualized basis and a yield of 4.13%. Chevron’s dividend payout ratio is 57.39%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CVX. UBS Group cut their target price on Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a research note on Thursday, December 14th. TD Cowen cut Chevron from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $170.00 to $150.00 in a report on Tuesday, January 23rd. Mizuho lifted their price objective on Chevron from $195.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. Jefferies Financial Group raised Chevron from a “hold” rating to a “buy” rating and set a $184.00 target price on the stock in a research report on Monday, January 8th. Finally, DZ Bank lowered Chevron from a “buy” rating to a “hold” rating and set a $160.00 price target on the stock. in a research report on Tuesday, February 6th. Seven equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, Chevron has an average rating of “Moderate Buy” and an average 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.