FLC Capital Advisors Trims Holdings in Chevron Co. (NYSE:CVX)

by · The Markets Daily

FLC Capital Advisors lowered its stake in shares of Chevron Co. (NYSE:CVX – Free Report) by 2.6% in the fourth quarter, HoldingsChannel.com reports. The firm owned 45,788 shares of the oil and gas company’s stock after selling 1,234 shares during the period. Chevron accounts for approximately 1.5% of FLC Capital Advisors’ portfolio, making the stock its 16th largest holding. FLC Capital Advisors’ holdings in Chevron were worth $6,632,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in CVX. Fairscale Capital LLC acquired a new position in shares of Chevron in the second quarter valued at approximately $100,000. Discovery Capital Management LLC CT acquired a new position in shares of Chevron in the second quarter worth $30,705,000. Cyrus J. Lawrence LLC increased its position in shares of Chevron by 66.7% during the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after acquiring an additional 100 shares during the period. Commonwealth Financial Services LLC raised its stake in shares of Chevron by 2.9% in the second quarter. Commonwealth Financial Services LLC now owns 3,359 shares of the oil and gas company’s stock valued at $518,000 after acquiring an additional 96 shares in the last quarter. Finally, Certified Advisory Corp boosted its holdings in Chevron by 6.1% in the second quarter. Certified Advisory Corp now owns 17,211 shares of the oil and gas company’s stock valued at $2,692,000 after purchasing an additional 985 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Price Performance

Shares of NYSE:CVX opened at $161.54 on Tuesday. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.11. The company has a 50-day moving average price of $153.93 and a 200 day moving average price of $151.01. The company has a market cap of $290.30 billion, a P/E ratio of 17.75, a PEG ratio of 2.62 and a beta of 1.12. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX – Get Free Report) last posted its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. The firm had revenue of $50.67 billion for the quarter, compared to the consensus estimate of $48.86 billion. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The company’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same period in the previous year, the business earned $3.05 earnings per share. Research analysts predict that Chevron Co. will post 10.39 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th were given a dividend of $1.63 per share. The ex-dividend date was Monday, November 18th. This represents a $6.52 annualized dividend and a yield of 4.04%. Chevron’s payout ratio is currently 71.65%.

Analysts Set New Price Targets

CVX has been the topic of a number of analyst reports. Bank of America initiated coverage on Chevron in a research report on Thursday, October 17th. They issued a “buy” rating and a $168.00 price target on the stock. Truist Financial lifted their price objective on shares of Chevron from $160.00 to $164.00 and gave the stock a “hold” rating in a research report on Monday, January 13th. DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target for the company in a report on Tuesday, November 5th. Raymond James raised their price objective on Chevron from $175.00 to $180.00 and gave the stock an “outperform” rating in a report on Friday. Finally, Wells Fargo & Company boosted their target price on Chevron from $171.00 to $188.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $175.27.

View Our Latest Stock Analysis on Chevron

Insider Activity at Chevron

In other news, CEO Michael K. Wirth sold 164,600 shares of Chevron stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the completion of the transaction, the chief executive officer now owns 4,280 shares of the company’s stock, valued at $685,356.40. The trade was a 97.47 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.20% of the stock is currently owned by company insiders.

About Chevron

(Free Report)

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.

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