Beacon Investment Advisory Services Inc. Boosts Stake in Chevron Corporation $CVX

Beacon Investment Advisory Services Inc. lifted its holdings in Chevron Corporation (NYSE:CVX) by 6.4% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 52,802 shares of the oil and gas company’s stock after purchasing an additional 3,199 shares during the period. Beacon Investment Advisory Services Inc.’s holdings in Chevron were worth $7,561,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Missouri Trust & Investment Co lifted its stake in shares of Chevron by 1.4% in the second quarter. Missouri Trust & Investment Co now owns 20,280 shares of the oil and gas company’s stock worth $2,904,000 after buying an additional 271 shares in the last quarter. Signet Financial Management LLC lifted its stake in shares of Chevron by 1,093.9% in the second quarter. Signet Financial Management LLC now owns 23,221 shares of the oil and gas company’s stock worth $3,325,000 after buying an additional 21,276 shares in the last quarter. Verum Partners LLC lifted its stake in shares of Chevron by 18.7% in the second quarter. Verum Partners LLC now owns 3,496 shares of the oil and gas company’s stock worth $501,000 after buying an additional 551 shares in the last quarter. TD Private Client Wealth LLC increased its position in Chevron by 1.8% during the second quarter. TD Private Client Wealth LLC now owns 79,358 shares of the oil and gas company’s stock worth $11,363,000 after purchasing an additional 1,390 shares during the last quarter. Finally, Foster Victor Wealth Advisors LLC raised its stake in Chevron by 7.6% during the second quarter. Foster Victor Wealth Advisors LLC now owns 73,916 shares of the oil and gas company’s stock worth $11,311,000 after purchasing an additional 5,238 shares during the period. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Price Performance

Shares of CVX opened at $159.15 on Thursday. Chevron Corporation has a 1-year low of $132.04 and a 1-year high of $168.96. The stock has a market cap of $275.00 billion, a PE ratio of 20.48, a P/E/G ratio of 1.97 and a beta of 0.90. The firm has a 50-day simple moving average of $155.64 and a two-hundred day simple moving average of $149.09. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.00 and a quick ratio of 0.74.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, beating analysts’ consensus estimates of $1.58 by $0.19. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The business had revenue of $44.82 billion during the quarter, compared to analysts’ expectations of $44.59 billion. During the same period last year, the business earned $2.55 earnings per share. The business’s revenue for the quarter was down 12.4% on a year-over-year basis. As a group, analysts forecast that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th were issued a $1.71 dividend. The ex-dividend date was Tuesday, August 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.3%. Chevron’s payout ratio is 88.03%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on CVX shares. Melius started coverage on shares of Chevron in a research note on Wednesday, August 20th. They set a “hold” rating and a $155.00 target price on the stock. UBS Group lifted their target price on shares of Chevron from $186.00 to $197.00 and gave the stock a “buy” rating in a research note on Wednesday, August 20th. Morgan Stanley started coverage on shares of Chevron in a research note on Monday, August 4th. They set an “overweight” rating and a $174.00 target price on the stock. Barclays reaffirmed an “equal weight” rating on shares of Chevron in a research note on Tuesday, July 15th. Finally, Melius Research started coverage on shares of Chevron in a research note on Wednesday, August 20th. They set a “hold” rating and a $155.00 target price on the stock. Eleven analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, Chevron has a consensus rating of “Hold” and a consensus price target of $165.05.

Insider Buying and Selling

In related news, Director John B. Hess sold 375,000 shares of Chevron stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $158.30, for a total value of $59,362,500.00. Following the completion of the transaction, the director owned 1,403,045 shares in the company, valued at approximately $222,102,023.50. The trade was a 21.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Alana K. Knowles sold 3,978 shares of Chevron stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $160.00, for a total transaction of $636,480.00. Following the completion of the transaction, the vice president owned 1,181 shares of the company’s stock, valued at $188,960. This trade represents a 77.11% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.

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.