Beese Fulmer Investment Management Inc. Grows Stock Holdings in Chevron Co. (NYSE:CVX)

Beese Fulmer Investment Management Inc. grew its holdings in shares of Chevron Co. (NYSE:CVX) by 0.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 92,024 shares of the oil and gas company’s stock after buying an additional 456 shares during the quarter. Chevron accounts for 1.6% of Beese Fulmer Investment Management Inc.’s portfolio, making the stock its 15th largest position. Beese Fulmer Investment Management Inc.’s holdings in Chevron were worth $14,480,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Morgan Stanley boosted its stake in shares of Chevron by 12.7% in the fourth quarter. Morgan Stanley now owns 32,906,060 shares of the oil and gas company’s stock valued at $5,906,309,000 after purchasing an additional 3,711,923 shares during the period. Moneta Group Investment Advisors LLC boosted its stake in shares of Chevron by 104,997.3% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 24,490,824 shares of the oil and gas company’s stock valued at $4,395,858,000 after purchasing an additional 24,467,521 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Chevron by 76.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 23,667,484 shares of the oil and gas company’s stock valued at $3,839,241,000 after purchasing an additional 10,257,980 shares during the period. Norges Bank purchased a new position in shares of Chevron in the fourth quarter valued at $3,058,235,000. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Chevron by 6.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 14,844,054 shares of the oil and gas company’s stock valued at $2,421,958,000 after purchasing an additional 948,045 shares during the period. 68.87% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Chevron

In related news, VP Jeff B. Gustavson sold 3,750 shares of the stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $160.88, for a total value of $603,300.00. Following the completion of the transaction, the vice president now owns 1,718 shares in the company, valued at approximately $276,391.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, VP Jeff B. Gustavson sold 3,750 shares of the stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $160.88, for a total value of $603,300.00. Following the completion of the transaction, the vice president now owns 1,718 shares in the company, valued at approximately $276,391.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Pierre R. Breber sold 25,000 shares of the stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $164.00, for a total transaction of $4,100,000.00. Following the completion of the transaction, the chief financial officer now owns 6,021 shares of the company’s stock, valued at approximately $987,444. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by insiders.

Chevron Stock Up 0.4 %

CVX stock opened at $167.22 on Tuesday. The company has a quick ratio of 1.13, a current ratio of 1.43 and a debt-to-equity ratio of 0.13. Chevron Co. has a fifty-two week low of $140.46 and a fifty-two week high of $189.68. The firm’s 50-day simple moving average is $160.80 and its 200 day simple moving average is $160.15. The stock has a market cap of $312.24 billion, a PE ratio of 10.60, a price-to-earnings-growth ratio of 0.88 and a beta of 1.18.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, July 28th. The oil and gas company reported $3.08 earnings per share for the quarter, topping analysts’ consensus estimates of $2.95 by $0.13. Chevron had a net margin of 13.54% and a return on equity of 19.48%. The business had revenue of $48.90 billion for the quarter, compared to analysts’ expectations of $48 billion. During the same quarter last year, the company earned $5.82 EPS. The company’s revenue for the quarter was down 28.9% compared to the same quarter last year. As a group, sell-side analysts predict that Chevron Co. will post 13.23 EPS for the current year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 11th. Investors of record on Friday, August 18th were given a $1.51 dividend. The ex-dividend date of this dividend was Thursday, August 17th. This represents a $6.04 dividend on an annualized basis and a yield of 3.61%. Chevron’s dividend payout ratio is presently 38.30%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Piper Sandler cut their price target on shares of Chevron from $196.00 to $188.00 in a report on Tuesday, June 13th. HSBC upped their price target on shares of Chevron from $180.00 to $184.00 in a report on Wednesday, August 9th. StockNews.com assumed coverage on shares of Chevron in a report on Thursday, August 17th. They issued a “hold” rating on the stock. Mizuho upped their price target on shares of Chevron from $209.00 to $215.00 and gave the company a “buy” rating in a report on Monday. Finally, Truist Financial upped their price target on shares of Chevron from $163.00 to $165.00 and gave the company a “hold” rating in a report on Monday, July 31st. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $190.61.

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; liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and processing, transportation, storage, and marketing of natural gas, as well as a gas-to-liquids plant.