Beacon Investment Advisory Services Inc. grew its position in shares of Chevron Co. (NYSE:CVX – Get Rating) by 1.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,997 shares of the oil and gas company’s stock after purchasing an additional 415 shares during the period. Beacon Investment Advisory Services Inc.’s holdings in Chevron were worth $4,342,000 at the end of the most recent reporting period.
Other institutional investors have also recently modified their holdings of the company. Bellwether Advisors LLC purchased a new position in shares of Chevron during the third quarter valued at about $25,000. Cranbrook Wealth Management LLC grew its position in shares of Chevron by 63.5% during the third quarter. Cranbrook Wealth Management LLC now owns 260 shares of the oil and gas company’s stock valued at $26,000 after purchasing an additional 101 shares in the last quarter. Avondale Wealth Management purchased a new position in shares of Chevron during the fourth quarter valued at about $26,000. Magnolia Capital Management Ltd. purchased a new position in shares of Chevron during the fourth quarter valued at about $47,000. Finally, Consolidated Planning Corp purchased a new position in shares of Chevron during the third quarter valued at about $50,000. Hedge funds and other institutional investors own 65.32% of the company’s stock.
Shares of Chevron stock traded down $1.96 on Tuesday, hitting $171.93. 144,183 shares of the company traded hands, compared to its average volume of 16,581,906. The stock’s 50 day moving average price is $156.75 and its 200-day moving average price is $131.91. The company has a current ratio of 1.26, a quick ratio of 1.02 and a debt-to-equity ratio of 0.22. Chevron Co. has a 52 week low of $92.86 and a 52 week high of $174.76. The company has a market cap of $337.80 billion, a PE ratio of 21.13, a PEG ratio of 0.88 and a beta of 1.14.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 10th. Investors of record on Wednesday, February 16th were issued a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a yield of 3.30%. This is a positive change from Chevron’s previous quarterly dividend of $1.34. The ex-dividend date of this dividend was Tuesday, February 15th. Chevron’s dividend payout ratio (DPR) is presently 69.78%.
In other Chevron news, VP R. Hewitt Pate sold 77,382 shares of Chevron stock in a transaction on Thursday, January 20th. The shares were sold at an average price of $130.01, for a total value of $10,060,433.82. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Michael K. Wirth sold 90,000 shares of Chevron stock in a transaction on Monday, February 14th. The stock was sold at an average price of $136.81, for a total transaction of $12,312,900.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 528,315 shares of company stock worth $71,776,012. 0.29% of the stock is currently owned by corporate insiders.
A number of research analysts recently commented on the stock. Barclays increased their price target on shares of Chevron from $148.00 to $183.00 in a report on Wednesday, March 9th. Piper Sandler increased their price target on shares of Chevron from $150.00 to $173.00 and gave the company an “overweight” rating in a report on Wednesday, March 2nd. Morgan Stanley downgraded shares of Chevron from an “overweight” rating to an “equal weight” rating and set a $166.00 price target for the company. in a report on Monday, March 14th. JPMorgan Chase & Co. downgraded shares of Chevron from a “neutral” rating to an “underweight” rating and set a $169.00 price target for the company. in a report on Friday, March 11th. Finally, Truist Financial increased their price target on shares of Chevron from $150.00 to $160.00 in a report on Thursday, March 3rd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, Chevron currently has an average rating of “Buy” and a consensus target price of $159.18.
Chevron Company Profile (Get Rating)
Chevron Corporation, through its subsidiaries, engages in integrated energy and chemicals operations worldwide. 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 associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.
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