Beese Fulmer Investment Management Inc. Has $13.99 Million Stake in Chevron Co. (NYSE:CVX)

Beese Fulmer Investment Management Inc. lowered its holdings in shares of Chevron Co. (NYSE:CVX) by 0.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 96,619 shares of the oil and gas company’s stock after selling 190 shares during the quarter. Beese Fulmer Investment Management Inc.’s holdings in Chevron were worth $13,994,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Hoxton Planning & Management LLC raised its stake in shares of Chevron by 42.6% during the 3rd quarter. Hoxton Planning & Management LLC now owns 2,136 shares of the oil and gas company’s stock worth $315,000 after purchasing an additional 638 shares in the last quarter. Future Financial Wealth Managment LLC bought a new position in Chevron during the 3rd quarter worth $64,000. CWM LLC raised its stake in Chevron by 4.2% in the 3rd quarter. CWM LLC now owns 256,705 shares of the oil and gas company’s stock worth $37,805,000 after purchasing an additional 10,337 shares in the last quarter. Sanibel Captiva Trust Company Inc. boosted its holdings in Chevron by 7.4% in the 3rd quarter. Sanibel Captiva Trust Company Inc. now owns 162,730 shares of the oil and gas company’s stock valued at $23,965,000 after purchasing an additional 11,149 shares during the period. Finally, Patten Group Inc. increased its holdings in shares of Chevron by 9.0% during the third quarter. Patten Group Inc. now owns 24,245 shares of the oil and gas company’s stock worth $3,571,000 after purchasing an additional 1,995 shares during the period. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Chevron

In related news, CEO Michael K. Wirth sold 164,600 shares of Chevron stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total value of $26,357,398.00. Following the sale, the chief executive officer now owns 4,280 shares of the company’s stock, valued at approximately $685,356.40. The trade was a 97.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.20% of the company’s stock.

Chevron Trading Down 0.7 %

NYSE CVX opened at $151.86 on Friday. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $272.90 billion, a P/E ratio of 15.62, a PEG ratio of 1.29 and a beta of 1.11. The business has a fifty day simple moving average of $152.60 and a 200 day simple moving average of $150.90. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $167.11.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a return on equity of 11.44% and a net margin of 8.71%. During the same quarter in the previous year, the firm earned $3.45 EPS. On average, analysts predict that Chevron Co. will post 11.45 EPS for the current fiscal year.

Chevron Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be given a $1.71 dividend. The ex-dividend date is Friday, February 14th. This represents a $6.84 annualized dividend and a yield of 4.50%. This is a boost from Chevron’s previous quarterly dividend of $1.63. Chevron’s payout ratio is currently 67.08%.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Barclays lowered their price objective on Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a research note on Wednesday. Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $145.00 to $185.00 in a research report on Tuesday, November 26th. Wells Fargo & Company decreased their target price on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a report on Monday. Piper Sandler cut their price target on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $175.00 price objective on shares of Chevron in a research report on Monday. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, Chevron presently has an average rating of “Moderate Buy” and an average target price of $174.13.

Chevron Company 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.