Flagship Wealth Advisors LLC Acquires Shares of 7,396 Chevron Co. (NYSE:CVX)

Flagship Wealth Advisors LLC acquired a new stake in shares of Chevron Co. (NYSE:CVX) during the fourth quarter, HoldingsChannel.com reports. The firm acquired 7,396 shares of the oil and gas company’s stock, valued at approximately $1,071,000. Chevron accounts for 0.6% of Flagship Wealth Advisors LLC’s holdings, making the stock its 29th biggest position.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Wealth Architects LLC raised its position in Chevron by 24.3% during the fourth quarter. Wealth Architects LLC now owns 3,530 shares of the oil and gas company’s stock valued at $511,000 after purchasing an additional 691 shares during the period. Signaturefd LLC grew its stake in Chevron by 5.1% in the fourth quarter. Signaturefd LLC now owns 22,874 shares of the oil and gas company’s stock worth $3,313,000 after purchasing an additional 1,113 shares in the last quarter. Creative Financial Designs Inc. ADV grew its stake in Chevron by 53.5% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 21,721 shares of the oil and gas company’s stock worth $3,146,000 after purchasing an additional 7,567 shares in the last quarter. IMG Wealth Management Inc. bought a new position in Chevron in the fourth quarter worth approximately $25,000. Finally, RS Crum Inc. grew its stake in Chevron by 68.6% in the fourth quarter. RS Crum Inc. now owns 4,230 shares of the oil and gas company’s stock worth $613,000 after purchasing an additional 1,721 shares in the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CVX. Citigroup raised Chevron from a “neutral” rating to a “buy” rating and increased their target price for the company from $145.00 to $185.00 in a research report on Tuesday, November 26th. Truist Financial lowered their price objective on Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research report on Tuesday, February 4th. Raymond James lowered their price objective on Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research report on Monday, February 3rd. UBS Group lowered their price objective on Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a research report on Monday, February 3rd. Finally, Piper Sandler reduced their target price on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $174.13.

Insider Buying and Selling

In other news, VP Jeff B. Gustavson sold 9,325 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the transaction, the vice president now directly owns 1,057 shares in the company, valued at $161,192.50. The trade was a 89.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.20% of the stock is currently owned by insiders.

Chevron Price Performance

Shares of Chevron stock opened at $157.10 on Monday. 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 Co. has a twelve month low of $135.37 and a twelve month high of $167.11. The business has a 50-day moving average price of $155.03 and a 200 day moving average price of $152.06. The firm has a market cap of $276.59 billion, a PE ratio of 16.16, a P/E/G ratio of 1.46 and a beta of 1.08.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a net margin of 8.71% and a return on equity of 11.44%. During the same period in the previous year, the business posted $3.45 earnings per share. Sell-side analysts predict that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were issued a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 4.35%. This is a boost from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend was Friday, February 14th. Chevron’s payout ratio is presently 70.37%.

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.