Chevron Co. (NYSE:CVX) Stock Position Lowered by Beam Wealth Advisors Inc.

Beam Wealth Advisors Inc. lessened its position in Chevron Co. (NYSE:CVX) by 8.8% in the 4th quarter, Holdings Channel reports. The fund owned 8,066 shares of the oil and gas company’s stock after selling 775 shares during the period. Beam Wealth Advisors Inc.’s holdings in Chevron were worth $1,203,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. NCM Capital Management LLC grew its stake in shares of Chevron by 1.2% in the first quarter. NCM Capital Management LLC now owns 5,570 shares of the oil and gas company’s stock valued at $909,000 after acquiring an additional 65 shares in the last quarter. Sweet Financial Partners LLC grew its stake in shares of Chevron by 0.7% in the third quarter. Sweet Financial Partners LLC now owns 8,761 shares of the oil and gas company’s stock valued at $1,477,000 after acquiring an additional 65 shares in the last quarter. Strategic Investment Advisors MI grew its stake in shares of Chevron by 3.8% in the third quarter. Strategic Investment Advisors MI now owns 1,758 shares of the oil and gas company’s stock valued at $296,000 after acquiring an additional 65 shares in the last quarter. Alera Investment Advisors LLC grew its stake in shares of Chevron by 1.0% in the third quarter. Alera Investment Advisors LLC now owns 6,486 shares of the oil and gas company’s stock valued at $1,094,000 after acquiring an additional 67 shares in the last quarter. Finally, Global Trust Asset Management LLC grew its stake in shares of Chevron by 1.0% in the third quarter. Global Trust Asset Management LLC now owns 6,852 shares of the oil and gas company’s stock valued at $1,155,000 after acquiring an additional 67 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Insiders Place Their Bets

In other news, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total transaction of $448,252.00. Following the transaction, the vice president now directly owns 276 shares of the company’s stock, valued at approximately $44,184.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.18% of the company’s stock.

Chevron Trading Up 0.1 %

Chevron stock opened at $156.38 on Thursday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.27 and a quick ratio of 1.01. Chevron Co. has a one year low of $139.62 and a one year high of $172.39. The stock has a market capitalization of $290.44 billion, a PE ratio of 13.77, a price-to-earnings-growth ratio of 2.30 and a beta of 1.12. The business’s fifty day moving average is $155.19 and its 200 day moving average is $151.86.

Chevron (NYSE:CVX) last announced its earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.19 by $0.26. The business had revenue of $47.18 billion for the quarter, compared to analysts’ expectations of $50.93 billion. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The business’s revenue for the quarter was down 16.5% on a year-over-year basis. During the same period last year, the firm posted $4.09 earnings per share. On average, sell-side analysts predict that Chevron Co. will post 13.56 EPS for the current year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Friday, February 16th were given a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 4.17%. This is a boost from Chevron’s previous quarterly dividend of $1.51. The ex-dividend date was Thursday, February 15th. Chevron’s dividend payout ratio (DPR) is presently 57.39%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on CVX shares. The Goldman Sachs Group restated a “buy” rating on shares of Chevron in a research note on Monday, April 1st. UBS Group increased their target price on shares of Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a report on Tuesday, April 9th. Wells Fargo & Company increased their target price on shares of Chevron from $185.00 to $198.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. Scotiabank raised shares of Chevron from a “sector perform” rating to a “sector outperform” rating and increased their target price for the stock from $170.00 to $195.00 in a report on Thursday, April 11th. Finally, TD Cowen cut shares of Chevron from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $170.00 to $150.00 in a report on Tuesday, January 23rd. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $183.55.

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.