Beutel Goodman & Co Ltd. Has $342,000 Stake in Chevron Corporation $CVX

Beutel Goodman & Co Ltd. lowered its holdings in shares of Chevron Corporation (NYSE:CVX) by 58.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,390 shares of the oil and gas company’s stock after selling 3,337 shares during the quarter. Beutel Goodman & Co Ltd.’s holdings in Chevron were worth $342,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Kingstone Capital Partners Texas LLC lifted its stake in Chevron by 652,139.5% in the second quarter. Kingstone Capital Partners Texas LLC now owns 83,714,936 shares of the oil and gas company’s stock valued at $13,214,757,000 after buying an additional 83,702,101 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Chevron by 4.0% during the second quarter. Charles Schwab Investment Management Inc. now owns 34,772,753 shares of the oil and gas company’s stock worth $4,979,255,000 after acquiring an additional 1,342,723 shares in the last quarter. Fisher Asset Management LLC raised its holdings in shares of Chevron by 1.9% during the second quarter. Fisher Asset Management LLC now owns 20,826,805 shares of the oil and gas company’s stock worth $2,982,190,000 after acquiring an additional 378,936 shares during the period. Norges Bank bought a new stake in Chevron in the 2nd quarter valued at $2,721,477,000. Finally, Franklin Resources Inc. boosted its stake in Chevron by 2.1% in the 2nd quarter. Franklin Resources Inc. now owns 17,764,589 shares of the oil and gas company’s stock worth $2,543,712,000 after purchasing an additional 370,287 shares during the period. Institutional investors own 72.42% of the company’s stock.

Insider Buying and Selling at Chevron

In other news, Director John B. Hess sold 275,000 shares of the business’s stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $150.75, for a total transaction of $41,456,250.00. Following the transaction, the director directly owned 1,128,045 shares in the company, valued at $170,052,783.75. The trade was a 19.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.21% of the stock is owned by corporate insiders.

Chevron Stock Up 0.4%

NYSE:CVX opened at $152.21 on Friday. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96. The firm has a market capitalization of $306.48 billion, a price-to-earnings ratio of 21.41, a price-to-earnings-growth ratio of 8.97 and a beta of 0.68. The company has a quick ratio of 0.86, a current ratio of 1.15 and a debt-to-equity ratio of 0.19. The stock’s 50 day moving average price is $153.43 and its two-hundred day moving average price is $151.43.

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

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Tuesday, November 18th will be given a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend is Tuesday, November 18th. Chevron’s dividend payout ratio (DPR) is 96.20%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Piper Sandler dropped their price target on Chevron from $171.00 to $169.00 and set an “overweight” rating on the stock in a research note on Monday, November 10th. Barclays decreased their price objective on Chevron from $160.00 to $158.00 and set an “equal weight” rating for the company in a report on Tuesday, October 7th. HSBC set a $169.00 target price on Chevron and gave the company a “buy” rating in a research report on Monday. Mizuho upped their price target on Chevron from $191.00 to $204.00 and gave the stock an “outperform” rating in a research report on Thursday, November 13th. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $160.00 price objective (down from $170.00) on shares of Chevron in a report on Friday, October 17th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, seven have issued a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, Chevron currently has an average rating of “Hold” and an average price target of $166.16.

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.