Armstrong Fleming & Moore Inc Takes Position in Chevron Corporation $CVX

Armstrong Fleming & Moore Inc purchased a new position in Chevron Corporation (NYSE:CVX) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 12,766 shares of the oil and gas company’s stock, valued at approximately $1,828,000. Chevron makes up about 1.0% of Armstrong Fleming & Moore Inc’s portfolio, making the stock its 19th largest holding.

Other institutional investors have also modified their holdings of the company. Wealthcare Advisory Partners LLC lifted its position in Chevron by 6.2% in the first quarter. Wealthcare Advisory Partners LLC now owns 28,303 shares of the oil and gas company’s stock valued at $4,735,000 after acquiring an additional 1,644 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Chevron by 27.3% in the first quarter. GAMMA Investing LLC now owns 32,329 shares of the oil and gas company’s stock valued at $5,408,000 after buying an additional 6,928 shares during the last quarter. Integral Investment Advisors Inc. raised its holdings in shares of Chevron by 1.0% in the first quarter. Integral Investment Advisors Inc. now owns 14,601 shares of the oil and gas company’s stock valued at $2,443,000 after buying an additional 144 shares during the last quarter. MV Capital Management Inc. raised its holdings in shares of Chevron by 78.9% in the first quarter. MV Capital Management Inc. now owns 2,487 shares of the oil and gas company’s stock valued at $416,000 after buying an additional 1,097 shares during the last quarter. Finally, Redhawk Wealth Advisors Inc. raised its holdings in Chevron by 16.8% during the first quarter. Redhawk Wealth Advisors Inc. now owns 9,521 shares of the oil and gas company’s stock worth $1,593,000 after purchasing an additional 1,369 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Activity at Chevron

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

Analyst Upgrades and Downgrades

Several brokerages have weighed in on CVX. Melius started coverage on shares of Chevron in a research report on Wednesday, August 20th. They set a “hold” rating and a $155.00 target price on the stock. Wells Fargo & Company reaffirmed an “overweight” rating and set a $178.00 price target on shares of Chevron in a research note on Friday, August 1st. Barclays cut their price target on shares of Chevron from $160.00 to $158.00 and set an “equal weight” rating on the stock in a research note on Tuesday. TD Cowen raised their target price on shares of Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a research note on Monday, August 4th. Finally, Scotiabank reissued a “sector perform” rating and issued a $160.00 target price (up previously from $143.00) on shares of Chevron in a research note on Friday, July 11th. Eleven research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $165.15.

Chevron Trading Down 0.7%

CVX stock opened at $153.76 on Thursday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.00 and a quick ratio of 0.74. The company has a fifty day moving average price of $156.15 and a two-hundred day moving average price of $148.88. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96. The stock has a market cap of $265.70 billion, a price-to-earnings ratio of 19.79, a price-to-earnings-growth ratio of 1.99 and a beta of 0.84.

Chevron (NYSE:CVX) last announced its earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.19. The company 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%. Chevron’s quarterly revenue was down 12.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.55 earnings per share. Equities analysts anticipate that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were issued a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 4.4%. The ex-dividend date was Tuesday, August 19th. Chevron’s payout ratio is 88.03%.

Chevron 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.