Beacon Investment Advisory Services Inc. Sells 44,161 Shares of Chevron Corporation $CVX

Beacon Investment Advisory Services Inc. trimmed its holdings in shares of Chevron Corporation (NYSE:CVX) by 83.6% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 8,641 shares of the oil and gas company’s stock after selling 44,161 shares during the period. Beacon Investment Advisory Services Inc.’s holdings in Chevron were worth $1,342,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Quaker Wealth Management LLC increased its position in shares of Chevron by 197.7% in the second quarter. Quaker Wealth Management LLC now owns 217 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 439 shares during the last quarter. Vermillion & White Wealth Management Group LLC grew its stake in Chevron by 86.1% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 255 shares of the oil and gas company’s stock worth $37,000 after buying an additional 118 shares in the last quarter. IMG Wealth Management Inc. increased its holdings in shares of Chevron by 52.3% in the 2nd quarter. IMG Wealth Management Inc. now owns 265 shares of the oil and gas company’s stock worth $38,000 after buying an additional 91 shares during the last quarter. 1 North Wealth Services LLC bought a new position in shares of Chevron in the 1st quarter worth $45,000. Finally, GFG Capital LLC purchased a new stake in shares of Chevron during the 2nd quarter valued at $42,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CVX. Piper Sandler cut their target price on shares of Chevron from $171.00 to $169.00 and set an “overweight” rating for the company in a research report on Monday, November 10th. Hsbc Global Res raised Chevron from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 1st. Weiss Ratings reiterated a “hold (c)” rating on shares of Chevron in a research report on Wednesday, October 8th. Scotiabank raised their price objective on Chevron from $160.00 to $165.00 and gave the company a “sector perform” rating in a report on Thursday, October 9th. Finally, UBS Group restated a “buy” rating on shares of Chevron in a research report on Monday, December 1st. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Chevron presently has a consensus rating of “Hold” and a consensus target price of $166.00.

Insider Transactions at Chevron

In other Chevron news, Director John B. Hess sold 275,000 shares of the firm’s stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $150.75, for a total transaction of $41,456,250.00. Following the completion of the transaction, the director owned 1,128,045 shares of the company’s stock, valued at approximately $170,052,783.75. This trade represents a 19.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.21% of the company’s stock.

Chevron Price Performance

CVX opened at $150.06 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.15 and a quick ratio of 0.86. The stock’s 50 day simple moving average is $152.11 and its 200 day simple moving average is $152.83. The firm has a market cap of $302.14 billion, a price-to-earnings ratio of 21.10, a PEG ratio of 9.00 and a beta of 0.68. Chevron Corporation has a 1 year low of $132.04 and a 1 year high of $168.96.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, October 31st. The oil and gas company reported $1.85 earnings per share for the quarter, beating analysts’ consensus estimates of $1.71 by $0.14. The firm had revenue of $48.17 billion during the quarter, compared to analyst estimates of $46.99 billion. Chevron had a return on equity of 8.74% and a net margin of 6.57%.The business’s quarterly revenue was down 1.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.48 earnings per share. As a group, analysts predict that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Tuesday, November 18th were issued a $1.71 dividend. The ex-dividend date was Tuesday, November 18th. This represents a $6.84 annualized dividend and a yield of 4.6%. Chevron’s dividend payout ratio (DPR) is 96.20%.

About Chevron

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.