Beacon Financial Advisory LLC Boosts Stock Holdings in Chevron Corporation $CVX

Beacon Financial Advisory LLC grew its stake in shares of Chevron Corporation (NYSE:CVX) by 572.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,032 shares of the oil and gas company’s stock after acquiring an additional 7,689 shares during the period. Beacon Financial Advisory LLC’s holdings in Chevron were worth $1,293,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Gemmer Asset Management LLC lifted its position in shares of Chevron by 2.5% during the second quarter. Gemmer Asset Management LLC now owns 4,643 shares of the oil and gas company’s stock worth $665,000 after acquiring an additional 115 shares in the last quarter. Marietta Wealth Management LLC lifted its position in shares of Chevron by 5.3% during the second quarter. Marietta Wealth Management LLC now owns 45,159 shares of the oil and gas company’s stock worth $6,466,000 after acquiring an additional 2,273 shares in the last quarter. Simplicity Wealth LLC lifted its position in shares of Chevron by 109.5% during the second quarter. Simplicity Wealth LLC now owns 35,947 shares of the oil and gas company’s stock worth $5,147,000 after acquiring an additional 18,785 shares in the last quarter. Brown Miller Wealth Management LLC lifted its position in shares of Chevron by 3.8% during the second quarter. Brown Miller Wealth Management LLC now owns 16,347 shares of the oil and gas company’s stock worth $2,341,000 after acquiring an additional 593 shares in the last quarter. Finally, Wealthcare Advisory Partners LLC lifted its position in shares of Chevron by 21.2% during the second quarter. Wealthcare Advisory Partners LLC now owns 34,293 shares of the oil and gas company’s stock worth $4,910,000 after acquiring an additional 5,990 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analysts Set New Price Targets

CVX has been the topic of several recent research reports. Mizuho dropped their target price on Chevron from $192.00 to $191.00 and set an “outperform” rating on the stock in a research report on Monday, September 15th. Melius Research initiated coverage on Chevron in a research report on Wednesday, August 20th. They set a “hold” rating and a $155.00 target price on the stock. TD Cowen upped their price target on shares of Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a report on Monday, August 4th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Chevron in a report on Friday, July 18th. Finally, Bank of America upped their price target on shares of Chevron from $170.00 to $185.00 and gave the stock a “buy” rating in a report on Wednesday, September 10th. Eleven equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, Chevron presently has a consensus rating of “Hold” and an average price target of $165.05.

Chevron Trading Up 0.1%

Chevron stock opened at $153.59 on Friday. The stock has a market cap of $265.40 billion, a P/E ratio of 19.77, a PEG ratio of 1.99 and a beta of 0.84. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The firm’s fifty day moving average price is $156.23 and its 200-day moving average price is $148.99.

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

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th were paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date of this dividend was Tuesday, August 19th. Chevron’s dividend payout ratio is currently 88.03%.

Insiders Place Their Bets

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

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.