Folger Nolan Fleming Douglas Capital Management Inc. Purchases 67 Shares of Chevron Co. (NYSE:CVX)

Folger Nolan Fleming Douglas Capital Management Inc. increased its position in shares of Chevron Co. (NYSE:CVX) by 0.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 49,914 shares of the oil and gas company’s stock after purchasing an additional 67 shares during the period. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in Chevron were worth $7,873,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Anderson Hoagland & Co. bought a new stake in Chevron in the 1st quarter valued at $262,000. Purus Wealth Management LLC increased its holdings in Chevron by 6.0% in the 1st quarter. Purus Wealth Management LLC now owns 3,768 shares of the oil and gas company’s stock valued at $594,000 after acquiring an additional 212 shares during the last quarter. High Net Worth Advisory Group LLC increased its holdings in Chevron by 22.7% in the 1st quarter. High Net Worth Advisory Group LLC now owns 12,150 shares of the oil and gas company’s stock valued at $1,917,000 after acquiring an additional 2,251 shares during the last quarter. Fort Pitt Capital Group LLC increased its holdings in Chevron by 8.0% in the 1st quarter. Fort Pitt Capital Group LLC now owns 114,539 shares of the oil and gas company’s stock valued at $18,067,000 after acquiring an additional 8,486 shares during the last quarter. Finally, Compton Wealth Advisory Group LLC increased its holdings in Chevron by 2.2% in the 1st quarter. Compton Wealth Advisory Group LLC now owns 13,326 shares of the oil and gas company’s stock valued at $2,102,000 after acquiring an additional 287 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors.

Chevron Price Performance

Chevron stock opened at $159.28 on Tuesday. The stock has a market cap of $293.55 billion, a price-to-earnings ratio of 14.65, a price-to-earnings-growth ratio of 2.36 and a beta of 1.12. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.23 and a quick ratio of 0.93. Chevron Co. has a 1 year low of $139.62 and a 1 year high of $171.70. The firm has a 50-day moving average of $159.28 and a two-hundred day moving average of $154.41.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.84 by $0.09. The company had revenue of $48.72 billion during the quarter, compared to analysts’ expectations of $48.42 billion. Chevron had a net margin of 10.21% and a return on equity of 14.40%. The firm’s quarterly revenue was down 4.1% on a year-over-year basis. During the same period in the previous year, the company earned $3.55 EPS. On average, research analysts forecast that Chevron Co. will post 13.15 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 17th were given a $1.63 dividend. The ex-dividend date was Thursday, May 16th. This represents a $6.52 annualized dividend and a yield of 4.09%. Chevron’s dividend payout ratio (DPR) is 59.98%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on CVX shares. TD Cowen lifted their price objective on shares of Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a research note on Monday, April 29th. The Goldman Sachs Group reissued a “buy” rating on shares of Chevron in a research note on Monday, April 1st. Piper Sandler lifted their price objective on shares of Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a research note on Thursday, April 18th. Mizuho lifted their price objective on shares of Chevron from $200.00 to $205.00 and gave the stock a “buy” rating in a research note on Monday, May 13th. Finally, Scotiabank raised shares of Chevron from a “sector perform” rating to a “sector outperform” rating and lifted their price objective for the stock from $170.00 to $195.00 in a research note on Thursday, April 11th. Five equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $186.95.

Insider Buying and Selling at Chevron

In other news, Director Enrique Hernandez, Jr. sold 5,098 shares of the business’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $163.50, for a total value of $833,523.00. Following the completion of the sale, the director now owns 2,549 shares in the company, valued at approximately $416,761.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Enrique Hernandez, Jr. sold 5,098 shares of the business’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $163.50, for a total value of $833,523.00. Following the completion of the sale, the director now owns 2,549 shares in the company, valued at approximately $416,761.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total transaction of $448,252.00. Following the completion of the sale, the vice president now owns 276 shares of the company’s stock, valued at approximately $44,184.84. The disclosure for this sale can be found here. Insiders sold a total of 19,546 shares of company stock valued at $3,176,223 in the last three months. Company insiders own 0.20% of the company’s stock.

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.