Flagship Harbor Advisors LLC Purchases 1,746 Shares of Chevron Co. (NYSE:CVX)

Flagship Harbor Advisors LLC raised its position in Chevron Co. (NYSE:CVX) by 7.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,485 shares of the oil and gas company’s stock after buying an additional 1,746 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in Chevron were worth $3,853,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in CVX. Rebalance LLC acquired a new position in Chevron in the 4th quarter valued at $26,000. NewSquare Capital LLC raised its stake in Chevron by 52.3% in the first quarter. NewSquare Capital LLC now owns 195 shares of the oil and gas company’s stock valued at $32,000 after purchasing an additional 67 shares in the last quarter. Artemis Wealth Advisors LLC bought a new stake in Chevron during the first quarter worth about $33,000. Worth Asset Management LLC bought a new position in Chevron in the 1st quarter valued at about $36,000. Finally, HBC Financial Services PLLC acquired a new position in shares of Chevron in the 1st quarter valued at approximately $37,000. Institutional investors own 68.87% of the company’s stock.

Insiders Place Their Bets

In other news, VP Jeff B. Gustavson sold 3,750 shares of the firm’s stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $160.88, for a total value of $603,300.00. Following the completion of the transaction, the vice president now directly owns 1,718 shares in the company, valued at $276,391.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, VP Jeff B. Gustavson sold 3,750 shares of the business’s stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $160.88, for a total transaction of $603,300.00. Following the completion of the transaction, the vice president now directly owns 1,718 shares in the company, valued at approximately $276,391.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Pierre R. Breber sold 25,000 shares of Chevron stock in a transaction on Friday, August 11th. The shares were sold at an average price of $164.00, for a total value of $4,100,000.00. Following the sale, the chief financial officer now directly owns 6,021 shares of the company’s stock, valued at approximately $987,444. The disclosure for this sale can be found here. 0.18% of the stock is owned by corporate insiders.

Chevron Price Performance

NYSE CVX opened at $167.22 on Tuesday. The company has a quick ratio of 1.13, a current ratio of 1.43 and a debt-to-equity ratio of 0.13. The company has a market cap of $312.24 billion, a PE ratio of 10.60, a price-to-earnings-growth ratio of 0.88 and a beta of 1.18. Chevron Co. has a 52 week low of $140.46 and a 52 week high of $189.68. The firm’s 50-day simple moving average is $160.80 and its two-hundred day simple moving average is $160.15.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, July 28th. The oil and gas company reported $3.08 EPS for the quarter, beating analysts’ consensus estimates of $2.95 by $0.13. Chevron had a net margin of 13.54% and a return on equity of 19.48%. The company had revenue of $48.90 billion for the quarter, compared to analysts’ expectations of $48 billion. During the same period in the prior year, the company posted $5.82 EPS. Chevron’s revenue was down 28.9% compared to the same quarter last year. Research analysts predict that Chevron Co. will post 13.23 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 11th. Shareholders of record on Friday, August 18th were given a dividend of $1.51 per share. The ex-dividend date was Thursday, August 17th. This represents a $6.04 annualized dividend and a dividend yield of 3.61%. Chevron’s dividend payout ratio is currently 38.30%.

Analyst Ratings Changes

CVX has been the topic of a number of recent analyst reports. StockNews.com assumed coverage on shares of Chevron in a research note on Thursday, August 17th. They issued a “hold” rating on the stock. HSBC upped their price objective on Chevron from $180.00 to $184.00 in a research report on Wednesday, August 9th. Piper Sandler lowered their target price on Chevron from $196.00 to $188.00 in a research note on Tuesday, June 13th. UBS Group lifted their price target on shares of Chevron from $202.00 to $209.00 and gave the company a “buy” rating in a report on Thursday, August 17th. Finally, Truist Financial upped their price target on shares of Chevron from $163.00 to $165.00 and gave the stock a “hold” rating in a report on Monday, July 31st. Seven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $190.61.

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; liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and processing, transportation, storage, and marketing of natural gas, as well as a gas-to-liquids plant.