Beam Wealth Advisors Inc. Decreases Holdings in Chevron Co. (NYSE:CVX)

Beam Wealth Advisors Inc. trimmed its holdings in shares of Chevron Co. (NYSE:CVX) by 8.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the business. Picton Mahoney Asset Management purchased a new stake in shares of Chevron in the 3rd quarter valued at about $26,000. Valley Forge Investment Consultants Inc. ADV lifted its holdings in shares of Chevron by 80.0% in the 3rd quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock valued at $30,000 after purchasing an additional 80 shares during the last quarter. Valued Wealth Advisors LLC purchased a new stake in shares of Chevron in the 4th quarter valued at about $33,000. Worth Asset Management LLC purchased a new stake in shares of Chevron in the 1st quarter valued at about $36,000. Finally, Legacy Financial Group LLC purchased a new stake in shares of Chevron in the 3rd quarter valued at about $43,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Chevron

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total value of $448,252.00. Following the transaction, the vice president now owns 276 shares in the company, valued at approximately $44,184.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.18% of the company’s stock.

Chevron Stock Performance

NYSE:CVX opened at $156.38 on Thursday. The company has a current ratio of 1.27, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $290.44 billion, a price-to-earnings ratio of 13.77, a PEG ratio of 2.30 and a beta of 1.12. The firm’s fifty day simple moving average is $155.19 and its 200 day simple moving average is $151.86. Chevron Co. has a twelve month low of $139.62 and a twelve month high of $172.39.

Chevron (NYSE:CVX) last posted its earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share for the quarter, beating the consensus estimate of $3.19 by $0.26. The business had revenue of $47.18 billion for the quarter, compared to analyst estimates of $50.93 billion. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The business’s quarterly revenue was down 16.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.09 EPS. As a group, equities research analysts expect that Chevron Co. will post 13.56 earnings per share for the current fiscal year.

Chevron Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Friday, February 16th were issued a dividend of $1.63 per share. This is a positive change from Chevron’s previous quarterly dividend of $1.51. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $6.52 annualized dividend and a dividend yield of 4.17%. Chevron’s payout ratio is presently 57.39%.

Analyst Ratings Changes

CVX has been the subject of several research reports. Royal Bank of Canada boosted their target price on Chevron from $185.00 to $190.00 and gave the company an “outperform” rating in a report on Monday, February 5th. DZ Bank cut Chevron from a “buy” rating to a “hold” rating and set a $160.00 price target on the stock. in a research report on Tuesday, February 6th. Raymond James boosted their price target on Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a research report on Monday. Barclays began coverage on Chevron in a research report on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 price target on the stock. Finally, Wells Fargo & Company boosted their price target on Chevron from $185.00 to $198.00 and gave the company an “overweight” rating in a research report on Thursday, April 4th. Six investment 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.com, the company has an average rating of “Moderate Buy” and a consensus price target of $183.55.

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.