Beaird Harris Wealth Management LLC Boosts Stock Position in Chevron Co. (NYSE:CVX)

Beaird Harris Wealth Management LLC raised its stake in shares of Chevron Co. (NYSE:CVX) by 2.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,415 shares of the oil and gas company’s stock after buying an additional 69 shares during the quarter. Beaird Harris Wealth Management LLC’s holdings in Chevron were worth $509,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in CVX. Lazari Capital Management Inc. lifted its stake in shares of Chevron by 43.3% in the fourth quarter. Lazari Capital Management Inc. now owns 3,083 shares of the oil and gas company’s stock worth $460,000 after buying an additional 932 shares in the last quarter. Counterweight Ventures LLC bought a new position in Chevron in the 4th quarter valued at approximately $2,028,000. Syon Capital LLC boosted its stake in Chevron by 18.8% during the 4th quarter. Syon Capital LLC now owns 21,474 shares of the oil and gas company’s stock valued at $3,203,000 after purchasing an additional 3,402 shares during the last quarter. Integrated Advisors Network LLC increased its holdings in shares of Chevron by 18.9% in the 4th quarter. Integrated Advisors Network LLC now owns 47,183 shares of the oil and gas company’s stock worth $7,038,000 after purchasing an additional 7,490 shares in the last quarter. Finally, TKG Advisors LLC raised its stake in shares of Chevron by 4.7% in the fourth quarter. TKG Advisors LLC now owns 14,172 shares of the oil and gas company’s stock worth $2,114,000 after purchasing an additional 635 shares during the last quarter. 72.42% of the stock is owned by institutional investors.

Chevron Price Performance

Shares of CVX stock traded down $0.27 on Friday, hitting $152.57. 6,159,138 shares of the stock traded hands, compared to its average volume of 6,205,760. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.23 and a quick ratio of 0.93. Chevron Co. has a 52 week low of $139.62 and a 52 week high of $171.70. The firm has a 50 day simple moving average of $159.95 and a two-hundred day simple moving average of $153.79. The firm has a market cap of $281.18 billion, a price-to-earnings ratio of 14.04, a PEG ratio of 2.27 and a beta of 1.12.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, beating analysts’ consensus estimates of $2.84 by $0.09. The business had revenue of $48.72 billion for the quarter, compared to analysts’ expectations of $48.42 billion. Chevron had a return on equity of 14.40% and a net margin of 10.21%. The business’s quarterly revenue was down 4.1% on a year-over-year basis. During the same period last year, the firm earned $3.55 earnings per share. As a group, equities research analysts predict that Chevron Co. will post 13.45 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 17th were paid a $1.63 dividend. The ex-dividend date was Thursday, May 16th. This represents a $6.52 annualized dividend and a yield of 4.27%. Chevron’s payout ratio is 59.98%.

Insider Buying and Selling at Chevron

In other Chevron news, Director Enrique Hernandez, Jr. sold 2,549 shares of Chevron stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $161.00, for a total value of $410,389.00. Following the sale, the director now directly owns 7,647 shares in the company, valued at approximately $1,231,167. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, VP Jeff B. Gustavson sold 3,750 shares of the stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $160.23, for a total transaction of $600,862.50. Following the completion of the transaction, the vice president now directly owns 477 shares in the company, valued at approximately $76,429.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Enrique Hernandez, Jr. sold 2,549 shares of the business’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $161.00, for a total transaction of $410,389.00. Following the completion of the sale, the director now owns 7,647 shares in the company, valued at approximately $1,231,167. The disclosure for this sale can be found here. Insiders sold a total of 19,546 shares of company stock valued at $3,176,223 in the last three months. 0.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Mizuho lifted their price objective on Chevron from $200.00 to $205.00 and gave the stock a “buy” rating in a report on Monday, May 13th. HSBC boosted their price objective on shares of Chevron from $175.00 to $178.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. Truist Financial raised their target price on shares of Chevron from $156.00 to $166.00 and gave the stock a “hold” rating in a report on Friday, May 10th. The Goldman Sachs Group reiterated a “buy” rating on shares of Chevron in a research note on Monday, April 1st. Finally, UBS Group raised their price target on Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a research note on Tuesday, April 9th. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $186.95.

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.