A. D. Beadell Investment Counsel Inc. Boosts Holdings in Chevron Co. (NYSE:CVX)

A. D. Beadell Investment Counsel Inc. increased its holdings in Chevron Co. (NYSE:CVX) by 69.5% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 6,413 shares of the oil and gas company’s stock after acquiring an additional 2,630 shares during the quarter. A. D. Beadell Investment Counsel Inc.’s holdings in Chevron were worth $956,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Addison Capital Co increased its stake in shares of Chevron by 1.9% in the 2nd quarter. Addison Capital Co now owns 3,339 shares of the oil and gas company’s stock worth $525,000 after acquiring an additional 63 shares during the last quarter. NCM Capital Management LLC increased its stake in shares of Chevron by 1.2% in the 1st quarter. NCM Capital Management LLC now owns 5,570 shares of the oil and gas company’s stock worth $909,000 after acquiring an additional 65 shares during the last quarter. Sweet Financial Partners LLC increased its stake in shares of Chevron by 0.7% in the 3rd quarter. Sweet Financial Partners LLC now owns 8,761 shares of the oil and gas company’s stock worth $1,477,000 after acquiring an additional 65 shares during the last quarter. Strategic Investment Advisors MI increased its stake in shares of Chevron by 3.8% in the 3rd quarter. Strategic Investment Advisors MI now owns 1,758 shares of the oil and gas company’s stock worth $296,000 after acquiring an additional 65 shares during the last quarter. Finally, Alera Investment Advisors LLC increased its stake in shares of Chevron by 1.0% in the 3rd quarter. Alera Investment Advisors LLC now owns 6,486 shares of the oil and gas company’s stock worth $1,094,000 after acquiring an additional 67 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

NYSE CVX traded up $1.75 during trading hours on Thursday, hitting $158.10. The company had a trading volume of 4,536,482 shares, compared to its average volume of 8,712,957. The business has a 50 day moving average of $151.34 and a 200-day moving average of $152.65. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.27. Chevron Co. has a 1-year low of $139.62 and a 1-year high of $172.88. The company has a market cap of $293.63 billion, a PE ratio of 13.86, a price-to-earnings-growth ratio of 2.38 and a beta of 1.12.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.19 by $0.26. The firm had revenue of $47.18 billion during the quarter, compared to analysts’ expectations of $50.93 billion. Chevron had a return on equity of 15.24% and a net margin of 10.63%. Chevron’s revenue was down 16.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.09 earnings per share. As a group, equities research analysts expect that Chevron Co. will post 13.04 EPS for the current year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Friday, February 16th were given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.12%. This is an increase from Chevron’s previous quarterly dividend of $1.51. The ex-dividend date of this dividend was Thursday, February 15th. Chevron’s dividend payout ratio (DPR) is presently 57.39%.

Analyst Ratings Changes

A number of analysts recently issued reports on CVX shares. Piper Sandler cut their price objective on Chevron from $188.00 to $180.00 and set an “overweight” rating for the company in a research report on Thursday, March 14th. DZ Bank downgraded Chevron from a “buy” rating to a “hold” rating and set a $160.00 price objective for the company. in a research report on Tuesday, February 6th. Mizuho raised their price objective on Chevron from $195.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Jefferies Financial Group upgraded Chevron from a “hold” rating to a “buy” rating and set a $184.00 target price for the company in a report on Monday, January 8th. Finally, TD Cowen cut Chevron from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $170.00 to $150.00 in a report on Tuesday, January 23rd. Seven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, Chevron presently has a consensus rating of “Moderate Buy” and an average price target of $180.39.

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.