Armstrong Fleming & Moore Inc Has $1.85 Million Stake in Chevron Co. (NYSE:CVX)

Armstrong Fleming & Moore Inc raised its holdings in Chevron Co. (NYSE:CVX) by 4.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,762 shares of the oil and gas company’s stock after buying an additional 540 shares during the quarter. Chevron accounts for approximately 1.1% of Armstrong Fleming & Moore Inc’s holdings, making the stock its 19th biggest holding. Armstrong Fleming & Moore Inc’s holdings in Chevron were worth $1,848,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Pettinga Financial Advisors LLC raised its holdings in shares of Chevron by 10.1% in the 3rd quarter. Pettinga Financial Advisors LLC now owns 2,972 shares of the oil and gas company’s stock worth $438,000 after buying an additional 272 shares in the last quarter. Gemmer Asset Management LLC grew its position in Chevron by 11.7% in the third quarter. Gemmer Asset Management LLC now owns 4,888 shares of the oil and gas company’s stock valued at $720,000 after acquiring an additional 512 shares during the period. Semanteon Capital Management LP acquired a new position in Chevron during the third quarter worth $1,208,000. Inscription Capital LLC lifted its holdings in shares of Chevron by 3.5% during the third quarter. Inscription Capital LLC now owns 77,577 shares of the oil and gas company’s stock valued at $11,425,000 after acquiring an additional 2,635 shares during the period. Finally, Welch Group LLC boosted its stake in shares of Chevron by 2.8% in the 3rd quarter. Welch Group LLC now owns 386,666 shares of the oil and gas company’s stock valued at $56,944,000 after purchasing an additional 10,660 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Trading Down 1.0 %

CVX opened at $156.38 on Wednesday. The firm has a 50 day simple moving average of $152.30 and a 200 day simple moving average of $151.28. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11. The company has a market cap of $281.04 billion, a price-to-earnings ratio of 16.09, a price-to-earnings-growth ratio of 1.46 and a beta of 1.11. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80.

Chevron (NYSE:CVX) last issued its earnings results on Friday, January 31st. The oil and gas company reported $2.06 EPS 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 quarter in the prior year, the firm posted $3.45 EPS. On average, sell-side analysts anticipate that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be paid a $1.71 dividend. The ex-dividend date of this dividend is Friday, February 14th. This is a boost from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.37%. Chevron’s dividend payout ratio is 70.37%.

Insider Activity at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the company’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $152.50, for a total value of $1,422,062.50. Following the completion of the sale, the vice president now owns 1,057 shares of the company’s stock, valued at approximately $161,192.50. This represents a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.20% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CVX. DZ Bank raised shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target for the company in a report on Tuesday, November 5th. UBS Group dropped their price objective on shares of Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a report on Monday, February 3rd. Wells Fargo & Company reduced their target price on Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Truist Financial cut 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. Finally, Barclays decreased their target price on Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $174.13.

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.