Beacon Financial Group Sells 1,758 Shares of Chevron Corporation $CVX

Key Points

• Beacon Financial Group has reduced its stake in Chevron Corporation by 11.8%, selling 1,758 shares and holding 13,171 shares worth approximately $1.886 million at the end of the quarter.
• Chevron recently announced a quarterly dividend of $1.71 per share, translating to an annualized dividend of $6.84 and a yield of 4.3%.
• Chevron's most recent earnings report showed a net margin of 7.02% and earnings per share of $1.77, exceeding analysts' expectations.

Beacon Financial Group lowered its holdings in Chevron Corporation (NYSE:CVX - Free Report) by 11.8% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,171 shares of the oil and gas company's stock after selling 1,758 shares during the period. Beacon Financial Group's holdings in Chevron were worth $1,886,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of CVX. Greenfield Savings Bank boosted its stake in Chevron by 0.6% during the second quarter. Greenfield Savings Bank now owns 11,611 shares of the oil and gas company's stock worth $1,663,000 after acquiring an additional 68 shares in the last quarter. GDS Wealth Management boosted its stake in Chevron by 4.4% during the first quarter. GDS Wealth Management now owns 1,706 shares of the oil and gas company's stock worth $285,000 after acquiring an additional 72 shares in the last quarter. AIMZ Investment Advisors LLC boosted its stake in Chevron by 4.2% during the first quarter. AIMZ Investment Advisors LLC now owns 1,783 shares of the oil and gas company's stock worth $298,000 after acquiring an additional 72 shares in the last quarter. Garde Capital Inc. boosted its stake in Chevron by 3.2% during the second quarter. Garde Capital Inc. now owns 2,355 shares of the oil and gas company's stock worth $337,000 after acquiring an additional 72 shares in the last quarter. Finally, Clayton Financial Group LLC boosted its stake in Chevron by 4.6% during the first quarter. Clayton Financial Group LLC now owns 1,702 shares of the oil and gas company's stock worth $285,000 after acquiring an additional 75 shares in the last quarter. Institutional investors own 72.42% of the company's stock.

Insider Buying and Selling

In other Chevron news, VP Alana K. Knowles sold 3,978 shares of the business's stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $160.00, for a total value of $636,480.00. Following the completion of the transaction, the vice president owned 1,181 shares of the company's stock, valued at $188,960. The trade was a 77.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John B. Hess sold 375,000 shares of the company's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $158.30, for a total transaction of $59,362,500.00. Following the completion of the sale, the director directly owned 1,403,045 shares of the company's stock, valued at $222,102,023.50. This trade represents a 21.09% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.20% of the company's stock.

Chevron Stock Performance

Chevron stock opened at $157.46 on Tuesday. The firm's 50 day simple moving average is $154.87 and its 200 day simple moving average is $148.78. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $272.09 billion, a PE ratio of 20.27, a price-to-earnings-growth ratio of 1.98 and a beta of 0.90. Chevron Corporation has a 1-year low of $132.04 and a 1-year high of $168.96.

Chevron (NYSE:CVX - Get Free Report) last posted its earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, topping analysts' consensus estimates of $1.58 by $0.19. The business had revenue of $44.82 billion for the quarter, compared to analyst estimates of $44.59 billion. Chevron had a net margin of 7.02% and a return on equity of 9.90%. Chevron's revenue was down 12.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.55 EPS. As a group, analysts expect that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th were issued a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date of this dividend was Tuesday, August 19th. Chevron's dividend payout ratio is 88.03%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Mizuho reduced their price objective on shares of Chevron from $192.00 to $191.00 and set an "outperform" rating for the company in a report on Monday. Morgan Stanley assumed coverage on shares of Chevron in a report on Monday, August 4th. They set an "overweight" rating and a $174.00 price objective for the company. Melius assumed coverage on shares of Chevron in a report on Wednesday, August 20th. They set a "hold" rating and a $155.00 price objective for the company. Raymond James Financial reiterated an "outperform" rating on shares of Chevron in a report on Friday, August 1st. Finally, TD Cowen lifted their price objective on shares of Chevron from $150.00 to $155.00 and gave the company a "hold" rating in a report on Monday, August 4th. Eleven investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $165.05.

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.

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