Beacon Harbor Wealth Advisors Inc. Raises Stake in Chevron Co. (NYSE:CVX)

Beacon Harbor Wealth Advisors Inc. boosted its position in Chevron Co. (NYSE:CVX - Free Report) by 4.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,206 shares of the oil and gas company's stock after buying an additional 1,724 shares during the quarter. Beacon Harbor Wealth Advisors Inc.'s holdings in Chevron were worth $6,113,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of CVX. Tacita Capital Inc lifted its position in Chevron by 16.7% in the third quarter. Tacita Capital Inc now owns 454 shares of the oil and gas company's stock valued at $67,000 after purchasing an additional 65 shares during the last quarter. Wallace Capital Management Inc. lifted its position in Chevron by 0.8% in the third quarter. Wallace Capital Management Inc. now owns 8,229 shares of the oil and gas company's stock valued at $1,212,000 after purchasing an additional 65 shares during the last quarter. TFB Advisors LLC lifted its position in Chevron by 2.4% in the fourth quarter. TFB Advisors LLC now owns 2,840 shares of the oil and gas company's stock valued at $411,000 after purchasing an additional 66 shares during the last quarter. W.H. Cornerstone Investments Inc. lifted its position in Chevron by 1.4% in the fourth quarter. W.H. Cornerstone Investments Inc. now owns 4,672 shares of the oil and gas company's stock valued at $677,000 after purchasing an additional 66 shares during the last quarter. Finally, Parkside Financial Bank & Trust lifted its position in Chevron by 0.4% in the fourth quarter. Parkside Financial Bank & Trust now owns 15,240 shares of the oil and gas company's stock valued at $2,207,000 after purchasing an additional 66 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company's stock.

Insider Buying and Selling at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the business's stock in a transaction dated Friday, February 7th. The stock was 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 directly owns 1,057 shares in the company, valued at $161,192.50. The trade was a 89.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.20% of the company's stock.

Chevron Price Performance

CVX opened at $150.93 on Thursday. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11. The stock has a fifty day simple moving average of $153.65 and a two-hundred day simple moving average of $151.61. The company has a market cap of $265.73 billion, a price-to-earnings ratio of 15.53, a price-to-earnings-growth ratio of 1.46 and a beta of 1.08. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 period in the prior year, the company earned $3.45 EPS. Research analysts predict that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be paid a dividend of $1.71 per share. This is an increase from Chevron's previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.53%. The ex-dividend date is Friday, February 14th. Chevron's payout ratio is currently 70.37%.

Analyst Upgrades and Downgrades

CVX has been the subject of several recent research reports. Wells Fargo & Company lowered their price objective on Chevron from $188.00 to $184.00 and set an "overweight" rating for the company in a research report on Monday, February 3rd. Barclays lowered their price objective on Chevron from $174.00 to $171.00 and set an "overweight" rating for the company in a research report on Wednesday, February 5th. Citigroup upgraded Chevron from a "neutral" rating to a "buy" rating and upped their target price for the company from $145.00 to $185.00 in a report on Tuesday, November 26th. Piper Sandler decreased their target price on Chevron from $184.00 to $173.00 and set an "overweight" rating for the company in a report on Thursday, December 19th. Finally, Truist Financial decreased their target price on Chevron from $164.00 to $160.00 and set a "hold" rating for the company in a report on Tuesday, February 4th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $174.13.

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.

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