Flower City Capital Takes $628,000 Position in Chevron Corporation $CVX

Flower City Capital acquired a new stake in Chevron Corporation (NYSE:CVX) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 4,044 shares of the oil and gas company’s stock, valued at approximately $628,000. Chevron accounts for 0.3% of Flower City Capital’s holdings, making the stock its 18th biggest holding.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CVX. White Knight Strategic Wealth Advisors LLC lifted its position in shares of Chevron by 3.0% during the second quarter. White Knight Strategic Wealth Advisors LLC now owns 2,230 shares of the oil and gas company’s stock worth $319,000 after purchasing an additional 65 shares in the last quarter. Rakuten Securities Inc. increased its stake in Chevron by 7.4% during the 2nd quarter. Rakuten Securities Inc. now owns 961 shares of the oil and gas company’s stock worth $138,000 after buying an additional 66 shares during the period. Analyst IMS Investment Management Services Ltd. increased its stake in Chevron by 1.0% during the 2nd quarter. Analyst IMS Investment Management Services Ltd. now owns 6,751 shares of the oil and gas company’s stock worth $966,000 after buying an additional 67 shares during the period. M.E. Allison & CO. Inc. lifted its holdings in Chevron by 0.6% during the 3rd quarter. M.E. Allison & CO. Inc. now owns 11,204 shares of the oil and gas company’s stock worth $1,740,000 after buying an additional 67 shares in the last quarter. Finally, Greenfield Savings Bank boosted its position in Chevron by 0.6% in the 2nd quarter. Greenfield Savings Bank now owns 11,611 shares of the oil and gas company’s stock valued at $1,663,000 after buying an additional 68 shares during the period. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Chevron

In other news, Director John B. Hess sold 275,000 shares of the company’s stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $150.75, for a total value of $41,456,250.00. Following the completion of the transaction, the director owned 1,128,045 shares in the company, valued at approximately $170,052,783.75. This represents a 19.60% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.21% of the company’s stock.

Chevron Stock Down 1.2%

Chevron stock opened at $147.69 on Friday. The stock has a market cap of $297.38 billion, a PE ratio of 20.77, a P/E/G ratio of 8.88 and a beta of 0.68. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.15 and a quick ratio of 0.86. The stock’s fifty day moving average is $152.34 and its two-hundred day moving average is $152.30. Chevron Corporation has a 1-year low of $132.04 and a 1-year high of $168.96.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, October 31st. The oil and gas company reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.71 by $0.14. Chevron had a return on equity of 8.74% and a net margin of 6.57%.The business had revenue of $48.17 billion during the quarter, compared to analysts’ expectations of $46.99 billion. During the same period in the prior year, the firm posted $2.48 EPS. The business’s quarterly revenue was down 1.9% compared to the same quarter last year. On average, sell-side analysts expect that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Tuesday, November 18th were issued a dividend of $1.71 per share. The ex-dividend date of this dividend was Tuesday, November 18th. This represents a $6.84 dividend on an annualized basis and a yield of 4.6%. Chevron’s dividend payout ratio (DPR) is presently 96.20%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CVX. Hsbc Global Res raised Chevron from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 1st. Wall Street Zen raised Chevron from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Bank of America cut their price target on Chevron from $183.00 to $180.00 and set a “buy” rating on the stock in a report on Thursday, December 11th. Morgan Stanley lifted their price objective on Chevron from $177.00 to $180.00 and gave the company an “overweight” rating in a research note on Thursday, November 13th. Finally, Scotiabank boosted their price objective on Chevron from $160.00 to $165.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, seven have issued a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $166.00.

Chevron 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.