Beam Wealth Advisors Inc. Purchases 971 Shares of Chevron Co. (NYSE:CVX)

Beam Wealth Advisors Inc. raised its stake in shares of Chevron Co. (NYSE:CVX) by 6.9% in the 4th quarter, Holdings Channel reports. The firm owned 14,975 shares of the oil and gas company’s stock after purchasing an additional 971 shares during the quarter. Beam Wealth Advisors Inc.’s holdings in Chevron were worth $2,169,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of CVX. Pettinga Financial Advisors LLC raised its position in shares of Chevron by 10.1% in the 3rd quarter. Pettinga Financial Advisors LLC now owns 2,972 shares of the oil and gas company’s stock worth $438,000 after acquiring an additional 272 shares in the last quarter. Harvest Portfolios Group Inc. raised its position in shares of Chevron by 11.7% in the 3rd quarter. Harvest Portfolios Group Inc. now owns 10,655 shares of the oil and gas company’s stock worth $1,569,000 after acquiring an additional 1,113 shares in the last quarter. Maia Wealth LLC raised its position in shares of Chevron by 3.1% in the 3rd quarter. Maia Wealth LLC now owns 3,577 shares of the oil and gas company’s stock worth $538,000 after acquiring an additional 107 shares in the last quarter. Blake Schutter Theil Wealth Advisors LLC bought a new position in shares of Chevron in the 3rd quarter worth about $902,000. Finally, Financial Enhancement Group LLC raised its position in shares of Chevron by 13.8% in the 3rd quarter. Financial Enhancement Group LLC now owns 1,533 shares of the oil and gas company’s stock worth $235,000 after acquiring an additional 186 shares in the last quarter. 72.42% of the stock is owned by institutional investors.

Insider Activity

In related news, VP Jeff B. Gustavson sold 9,325 shares of the firm’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the completion of the sale, the vice president now owns 1,057 shares in the company, valued at approximately $161,192.50. This trade represents a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.20% of the stock is currently owned by corporate insiders.

Chevron Stock Performance

Shares of CVX stock opened at $152.94 on Friday. The firm has a 50-day moving average of $153.83 and a 200-day moving average of $151.62. The company has a market cap of $269.27 billion, a P/E ratio of 15.73, a P/E/G ratio of 1.46 and a beta of 1.08. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. Chevron Co. has a one year low of $135.37 and a one year high of $167.11.

Chevron (NYSE:CVX) last announced its earnings results on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a net margin of 8.71% and a return on equity of 11.44%. During the same quarter in the previous year, the company posted $3.45 earnings per share. Equities research analysts forecast that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be issued a $1.71 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.84 annualized dividend and a dividend yield of 4.47%. This is an increase from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio is currently 70.37%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. UBS Group lowered their price objective on Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a research report on Monday, February 3rd. Raymond James reduced their target price on Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research note on Monday, February 3rd. Wells Fargo & Company reduced their target price on Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Barclays reduced their target price on Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $175.00 target price on shares of Chevron in a research note on Monday, February 3rd. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $174.13.

About Chevron

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.