Chevron Co. (NYSE:CVX) Stock Position Lessened by Beese Fulmer Investment Management Inc.

Beese Fulmer Investment Management Inc. trimmed its stake in shares of Chevron Co. (NYSE:CVX) by 0.9% during the third quarter, Holdings Channel reports. The institutional investor owned 96,809 shares of the oil and gas company’s stock after selling 835 shares during the period. Chevron makes up about 1.2% of Beese Fulmer Investment Management Inc.’s holdings, making the stock its 28th largest position. Beese Fulmer Investment Management Inc.’s holdings in Chevron were worth $14,257,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in CVX. Anfield Capital Management LLC lifted its position in Chevron by 118.0% in the second quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock worth $34,000 after purchasing an additional 118 shares during the period. Cyrus J. Lawrence LLC lifted its holdings in Chevron by 66.7% in the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after acquiring an additional 100 shares during the last quarter. Krane Funds Advisors LLC acquired a new stake in Chevron in the 3rd quarter valued at about $47,000. Livelsberger Financial Advisory bought a new position in shares of Chevron during the 3rd quarter valued at about $47,000. Finally, Dixon Mitchell Investment Counsel Inc. acquired a new position in shares of Chevron in the 1st quarter worth approximately $55,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CVX. Royal Bank of Canada restated an “outperform” rating and set a $170.00 target price on shares of Chevron in a report on Tuesday, October 8th. Barclays dropped their price target on Chevron from $185.00 to $168.00 and set an “overweight” rating on the stock in a research note on Thursday, October 3rd. Bank of America began coverage on shares of Chevron in a research note on Thursday, October 17th. They set a “buy” rating and a $168.00 price objective for the company. Truist Financial cut their price target on shares of Chevron from $154.00 to $150.00 and set a “hold” rating on the stock in a report on Monday, September 30th. Finally, Scotiabank reduced their target price on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $173.07.

Chevron Trading Down 0.3 %

NYSE:CVX opened at $150.46 on Thursday. The company has a market capitalization of $277.29 billion, a P/E ratio of 13.84, a P/E/G ratio of 2.73 and a beta of 1.09. The stock’s 50 day moving average price is $146.44 and its 200 day moving average price is $153.45. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.11.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing the consensus estimate of $2.93 by ($0.38). Chevron had a return on equity of 13.70% and a net margin of 9.31%. The business had revenue of $51.18 billion for the quarter, compared to analyst estimates of $48.68 billion. During the same quarter last year, the company earned $3.08 EPS. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. On average, research analysts forecast that Chevron Co. will post 10.95 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were given a $1.63 dividend. The ex-dividend date was Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.33%. Chevron’s dividend payout ratio is currently 59.98%.

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.