Flaharty Asset Management LLC Takes Position in Chevron Corporation $CVX

Flaharty Asset Management LLC acquired a new stake in shares of Chevron Corporation (NYSE:CVX) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 489 shares of the oil and gas company’s stock, valued at approximately $82,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sage Capital Advisors llc raised its position in shares of Chevron by 2.2% during the 1st quarter. Sage Capital Advisors llc now owns 42,421 shares of the oil and gas company’s stock valued at $7,097,000 after purchasing an additional 919 shares during the period. CCG Wealth Management LLC increased its stake in Chevron by 2.3% in the 1st quarter. CCG Wealth Management LLC now owns 6,334 shares of the oil and gas company’s stock worth $1,060,000 after buying an additional 145 shares in the last quarter. Ignite Planners LLC raised its holdings in Chevron by 14.1% during the first quarter. Ignite Planners LLC now owns 12,316 shares of the oil and gas company’s stock valued at $2,060,000 after acquiring an additional 1,519 shares during the period. Vista Capital Partners Inc. lifted its position in shares of Chevron by 9.1% in the first quarter. Vista Capital Partners Inc. now owns 5,938 shares of the oil and gas company’s stock valued at $993,000 after acquiring an additional 495 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its stake in shares of Chevron by 0.5% in the first quarter. Oregon Public Employees Retirement Fund now owns 143,914 shares of the oil and gas company’s stock worth $24,075,000 after acquiring an additional 675 shares during the period. 72.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CVX has been the topic of a number of research analyst reports. Raymond James Financial reissued an “outperform” rating on shares of Chevron in a report on Friday, August 1st. Barclays reissued an “equal weight” rating on shares of Chevron in a report on Tuesday, July 15th. Melius initiated coverage on shares of Chevron in a research note on Wednesday, August 20th. They set a “hold” rating and a $155.00 target price for the company. Jefferies Financial Group reiterated a “buy” rating on shares of Chevron in a report on Friday, July 18th. Finally, Morgan Stanley initiated coverage on shares of Chevron in a report on Monday, August 4th. They set an “overweight” rating and a $174.00 price objective for the company. Eleven equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $164.80.

Chevron Trading Up 1.9%

CVX stock opened at $157.76 on Thursday. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96. The stock has a market capitalization of $272.60 billion, a price-to-earnings ratio of 20.30, a price-to-earnings-growth ratio of 2.30 and a beta of 0.90. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16. The firm’s fifty day simple moving average is $154.29 and its two-hundred day simple moving average is $148.88.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.19. The firm had revenue of $44.82 billion during the quarter, compared to analysts’ expectations of $44.59 billion. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The firm’s revenue for the quarter was down 12.4% compared to the same quarter last year. During the same period in the previous year, the company earned $2.55 EPS. As a group, analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were paid a dividend of $1.71 per share. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.3%. Chevron’s dividend payout ratio is currently 88.03%.

Insider Buying and Selling

In related news, VP Alana K. Knowles sold 3,978 shares of the business’s stock in a transaction on Friday, August 29th. The stock was sold at an average price of $160.00, for a total transaction of $636,480.00. Following the completion of the transaction, the vice president owned 1,181 shares in the company, valued at $188,960. The trade was a 77.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John B. Hess sold 375,000 shares of the company’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $158.30, for a total value of $59,362,500.00. Following the completion of the transaction, the director directly owned 1,403,045 shares in the company, valued at $222,102,023.50. This trade represents a 21.09% decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by company insiders.

Chevron Company Profile

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.