Flaharty Asset Management LLC Makes New Investment in Chevron Co. (NYSE:CVX)

Flaharty Asset Management LLC purchased a new position in Chevron Co. (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 1,313 shares of the oil and gas company’s stock, valued at approximately $205,000.

Several other institutional investors have also modified their holdings of CVX. American Capital Advisory LLC grew its stake in shares of Chevron by 403.2% during the first quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 125 shares in the last quarter. Frank Rimerman Advisors LLC acquired a new position in shares of Chevron during the fourth quarter worth $30,000. Anfield Capital Management LLC grew its stake in shares of Chevron by 118.0% during the second quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock worth $34,000 after purchasing an additional 118 shares in the last quarter. Cooksen Wealth LLC acquired a new position in shares of Chevron during the fourth quarter worth $40,000. Finally, Clear Investment Research LLC grew its stake in shares of Chevron by 264.9% during the fourth quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock worth $42,000 after purchasing an additional 204 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on CVX shares. Barclays reduced their price target on shares of Chevron from $203.00 to $185.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th. Mizuho boosted their price target on shares of Chevron from $200.00 to $205.00 and gave the company a “buy” rating in a research report on Monday, May 13th. Truist Financial reduced their price target on shares of Chevron from $156.00 to $154.00 and set a “hold” rating for the company in a research report on Monday, August 5th. Wolfe Research started coverage on shares of Chevron in a research report on Thursday, July 18th. They issued a “peer perform” rating for the company. Finally, Royal Bank of Canada reduced their price target on shares of Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a research report on Monday, August 5th. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, Chevron has a consensus rating of “Moderate Buy” and an average target price of $183.82.

Chevron Stock Performance

Shares of NYSE:CVX traded up $0.53 during midday trading on Monday, hitting $147.95. The company’s stock had a trading volume of 6,414,700 shares, compared to its average volume of 7,744,875. Chevron Co. has a fifty-two week low of $139.62 and a fifty-two week high of $171.70. The stock has a market capitalization of $272.67 billion, a price-to-earnings ratio of 13.61, a PEG ratio of 2.50 and a beta of 1.10. The stock’s 50 day simple moving average is $152.27 and its 200 day simple moving average is $155.68. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16.

Chevron (NYSE:CVX) last released its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). The firm had revenue of $51.18 billion for the quarter, compared to analyst estimates of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period last year, the business earned $3.08 earnings per share. As a group, research analysts anticipate that Chevron Co. will post 11.86 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th will be issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 4.41%. The ex-dividend date is Monday, August 19th. Chevron’s dividend payout ratio is presently 59.98%.

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.