Chevron Co. (NYSE:CVX) Shares Sold by Beese Fulmer Investment Management Inc.

Beese Fulmer Investment Management Inc. decreased its stake in shares of Chevron Co. (NYSE:CVX) by 0.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 96,809 shares of the oil and gas company’s stock after selling 835 shares during the period. Chevron accounts for 1.2% of Beese Fulmer Investment Management Inc.’s portfolio, making the stock its 28th largest position. Beese Fulmer Investment Management Inc.’s holdings in Chevron were worth $14,257,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Keene & Associates Inc. boosted its holdings in Chevron by 2.0% in the third quarter. Keene & Associates Inc. now owns 18,052 shares of the oil and gas company’s stock valued at $2,659,000 after acquiring an additional 349 shares during the last quarter. Global Assets Advisory LLC acquired a new position in shares of Chevron in the 3rd quarter valued at about $1,079,000. Romano Brothers AND Company lifted its stake in shares of Chevron by 7.5% in the 3rd quarter. Romano Brothers AND Company now owns 14,039 shares of the oil and gas company’s stock valued at $2,068,000 after purchasing an additional 985 shares in the last quarter. Patrick M Sweeney & Associates Inc. increased its position in Chevron by 12.0% during the 3rd quarter. Patrick M Sweeney & Associates Inc. now owns 3,426 shares of the oil and gas company’s stock worth $505,000 after purchasing an additional 366 shares in the last quarter. Finally, Brighton Jones LLC raised its holdings in Chevron by 18.8% in the third quarter. Brighton Jones LLC now owns 29,312 shares of the oil and gas company’s stock valued at $4,317,000 after buying an additional 4,640 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Stock Down 0.3 %

Shares of NYSE:CVX opened at $150.46 on Thursday. The company’s fifty day moving average is $146.44 and its two-hundred day moving average 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 1-year low of $135.37 and a 1-year high of $167.11. The stock has a market capitalization of $277.29 billion, a price-to-earnings ratio of 13.84, a price-to-earnings-growth ratio of 2.73 and a beta of 1.09.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). The company had revenue of $51.18 billion for the quarter, compared to analyst estimates of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.08 EPS. Equities analysts anticipate that Chevron Co. will post 10.95 EPS for the current year.

Chevron Announces Dividend

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

Analysts Set New Price Targets

Several research firms have recently issued reports on CVX. Scotiabank dropped their price objective on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Wolfe Research started coverage on Chevron in a research report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $170.00 target price on shares of Chevron in a research report on Tuesday, October 8th. Truist Financial decreased their price objective on shares of Chevron from $154.00 to $150.00 and set a “hold” rating for the company in a research report on Monday, September 30th. Finally, Sanford C. Bernstein cut Chevron from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $183.00 to $167.00 in a research note on Wednesday, July 17th. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $173.07.

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.