Chevron Corporation (NYSE:CVX) Shares Bought by Flagship Harbor Advisors LLC

Flagship Harbor Advisors LLC raised its position in Chevron Corporation (NYSE:CVX) by 3.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 29,963 shares of the oil and gas company’s stock after acquiring an additional 1,034 shares during the period. Flagship Harbor Advisors LLC’s holdings in Chevron were worth $5,013,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Sage Capital Advisors llc boosted its stake in Chevron by 2.2% in the first quarter. Sage Capital Advisors llc now owns 42,421 shares of the oil and gas company’s stock valued at $7,097,000 after acquiring an additional 919 shares in the last quarter. CCG Wealth Management LLC lifted its stake in shares of Chevron by 2.3% during the first 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 during the period. Pines Wealth Management LLC lifted its stake in shares of Chevron by 3.3% during the first quarter. Pines Wealth Management LLC now owns 7,808 shares of the oil and gas company’s stock worth $1,306,000 after buying an additional 253 shares during the period. Viking Fund Management LLC lifted its stake in shares of Chevron by 9.3% during the first quarter. Viking Fund Management LLC now owns 117,000 shares of the oil and gas company’s stock worth $19,573,000 after buying an additional 10,000 shares during the period. Finally, Allianz SE acquired a new stake in shares of Chevron during the fourth quarter worth $9,369,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Trading Up 0.8%

Shares of Chevron stock opened at $149.36 on Monday. Chevron Corporation has a 1 year low of $132.04 and a 1 year high of $168.96. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.08 and a quick ratio of 0.82. The firm has a fifty day moving average price of $139.37 and a 200 day moving average price of $148.58. The stock has a market cap of $260.84 billion, a PE ratio of 17.07, a price-to-earnings-growth ratio of 2.63 and a beta of 0.83.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.03. Chevron had a net margin of 7.76% and a return on equity of 10.73%. The company had revenue of $47.61 billion during the quarter, compared to analysts’ expectations of $49.05 billion. During the same quarter in the previous year, the company earned $2.93 earnings per share. The firm’s revenue for the quarter was down 2.3% on a year-over-year basis. Equities research analysts predict that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th were issued a $1.71 dividend. The ex-dividend date was Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a yield of 4.58%. Chevron’s payout ratio is 78.17%.

Analyst Ratings Changes

Several equities research analysts have recently commented on CVX shares. BNP Paribas downgraded shares of Chevron to a “cautious” rating in a research note on Tuesday, April 15th. DZ Bank downgraded shares of Chevron from a “buy” rating to a “sell” rating and set a $130.00 price objective for the company. in a research note on Tuesday, May 6th. Wells Fargo & Company lowered their price objective on shares of Chevron from $173.00 to $164.00 and set an “overweight” rating for the company in a research note on Monday, May 5th. Barclays downgraded shares of Chevron from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $171.00 to $152.00 in a research note on Wednesday, April 23rd. Finally, Scotiabank downgraded shares of Chevron from a “sector outperform” rating to a “sector perform” rating and lowered their price objective for the stock from $160.00 to $143.00 in a research note on Friday, April 11th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Chevron presently has a consensus rating of “Hold” and an average price target of $160.24.

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.