Beech Hill Advisors Inc. Sells 400 Shares of Chevron Co. (NYSE:CVX)

Beech Hill Advisors Inc. lowered its holdings in shares of Chevron Co. (NYSE:CVX) by 19.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 1,683 shares of the oil and gas company’s stock after selling 400 shares during the period. Beech Hill Advisors Inc.’s holdings in Chevron were worth $248,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of CVX. Pacifica Partners Inc. increased its stake in shares of Chevron by 1.8% in the first quarter. Pacifica Partners Inc. now owns 3,492 shares of the oil and gas company’s stock valued at $546,000 after buying an additional 63 shares during the period. Private Wealth Management Group LLC lifted its position in shares of Chevron by 15.7% in the 1st quarter. Private Wealth Management Group LLC now owns 464 shares of the oil and gas company’s stock worth $73,000 after purchasing an additional 63 shares during the period. Montz Harcus Wealth Management LLC increased its position in shares of Chevron by 2.2% during the second quarter. Montz Harcus Wealth Management LLC now owns 2,943 shares of the oil and gas company’s stock worth $460,000 after buying an additional 63 shares during the period. Hubbell Strickland Wealth Management LLC raised its stake in Chevron by 0.7% during the second quarter. Hubbell Strickland Wealth Management LLC now owns 9,493 shares of the oil and gas company’s stock worth $1,485,000 after buying an additional 64 shares during the last quarter. Finally, Ellenbecker Investment Group boosted its position in Chevron by 1.5% during the first quarter. Ellenbecker Investment Group now owns 4,346 shares of the oil and gas company’s stock valued at $686,000 after acquiring an additional 65 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Chevron Trading Up 0.6 %

CVX opened at $148.69 on Thursday. The firm has a market capitalization of $274.03 billion, a PE ratio of 13.68, a P/E/G ratio of 2.72 and a beta of 1.09. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $170.17. The company’s 50-day moving average is $145.82 and its 200 day moving average is $153.78.

Chevron (NYSE:CVX) last issued its quarterly earnings data 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). The company had revenue of $51.18 billion during the quarter, compared to analysts’ expectations of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period last year, the company earned $3.08 earnings per share. As a group, research analysts predict that Chevron Co. will post 11.09 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 4.38%. The ex-dividend date of this dividend was Monday, August 19th. Chevron’s dividend payout ratio is 59.98%.

Wall Street Analysts Forecast Growth

CVX has been the subject of several research analyst reports. UBS Group lifted their price objective on Chevron from $189.00 to $192.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Mizuho lowered their target price on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a report on Monday, September 16th. Barclays cut their price target on Chevron from $185.00 to $168.00 and set an “overweight” rating on the stock in a report on Thursday, October 3rd. Truist Financial lowered their price objective on shares of Chevron from $154.00 to $150.00 and set a “hold” rating for the company in a research note on Monday, September 30th. Finally, Scotiabank cut their target price on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, Chevron presently has a consensus rating of “Moderate Buy” and an average price target of $176.81.

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.