Beacon Capital Management LLC Has $788,000 Position in Chevron Co. (NYSE:CVX)

Beacon Capital Management LLC increased its position in Chevron Co. (NYSE:CVX) by 3.3% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 5,039 shares of the oil and gas company’s stock after purchasing an additional 160 shares during the quarter. Beacon Capital Management LLC’s holdings in Chevron were worth $788,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC increased its stake in Chevron by 4.9% in the 4th quarter. International Assets Investment Management LLC now owns 21,470 shares of the oil and gas company’s stock worth $3,202,000 after acquiring an additional 1,005 shares during the last quarter. GUNN & Co INVESTMENT MANAGEMENT INC. raised its stake in shares of Chevron by 796.5% in the fourth quarter. GUNN & Co INVESTMENT MANAGEMENT INC. now owns 15,599 shares of the oil and gas company’s stock worth $2,327,000 after purchasing an additional 13,859 shares during the last quarter. Marks Group Wealth Management Inc increased its position in Chevron by 5.4% during the fourth quarter. Marks Group Wealth Management Inc now owns 2,083 shares of the oil and gas company’s stock valued at $311,000 after acquiring an additional 106 shares during the last quarter. Carret Asset Management LLC increased its position in Chevron by 0.4% during the fourth quarter. Carret Asset Management LLC now owns 80,820 shares of the oil and gas company’s stock valued at $12,055,000 after acquiring an additional 288 shares during the last quarter. Finally, Atria Wealth Solutions Inc. grew its holdings in Chevron by 0.5% during the fourth quarter. Atria Wealth Solutions Inc. now owns 177,347 shares of the oil and gas company’s stock valued at $26,453,000 after purchasing an additional 856 shares during the period. Institutional investors own 72.42% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Scotiabank dropped their price objective on Chevron from $195.00 to $180.00 and set a “sector outperform” rating for the company in a research note on Friday, July 12th. TD Cowen raised their price objective on Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a report on Monday, April 29th. HSBC increased their target price on Chevron from $175.00 to $178.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Wells Fargo & Company lifted their price target on Chevron from $198.00 to $206.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 30th. Finally, Truist Financial dropped their price target on shares of Chevron from $156.00 to $154.00 and set a “hold” rating on the stock in a research report on Monday, August 5th. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Chevron currently has an average rating of “Moderate Buy” and a consensus target price of $183.82.

Chevron Price Performance

Shares of NYSE CVX traded up $1.89 during mid-day trading on Friday, hitting $147.62. 4,824,078 shares of the stock were exchanged, compared to its average volume of 7,814,477. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16. The company has a market cap of $272.06 billion, a P/E ratio of 13.58, a PEG ratio of 2.46 and a beta of 1.10. The stock’s fifty day simple moving average is $152.97 and its two-hundred day simple moving average is $155.81. Chevron Co. has a twelve month low of $139.62 and a twelve month high of $171.70.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). The firm had revenue of $51.18 billion for the quarter, compared to the consensus estimate of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the prior year, the business earned $3.08 earnings per share. As a group, analysts forecast that Chevron Co. will post 11.96 EPS for the current fiscal year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th will be issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 4.42%. The ex-dividend date of this dividend is Monday, August 19th. Chevron’s dividend payout ratio is currently 59.98%.

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.