Beese Fulmer Investment Management Inc. Boosts Stock Position in Chevron Co. (NYSE:CVX)

Beese Fulmer Investment Management Inc. lifted its position in Chevron Co. (NYSE:CVX - Free Report) by 2.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 98,735 shares of the oil and gas company's stock after buying an additional 2,116 shares during the quarter. Chevron makes up 1.4% of Beese Fulmer Investment Management Inc.'s investment portfolio, making the stock its 23rd largest holding. Beese Fulmer Investment Management Inc.'s holdings in Chevron were worth $16,517,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Life Planning Partners Inc purchased a new stake in shares of Chevron in the 4th quarter valued at $25,000. IMG Wealth Management Inc. acquired a new position in Chevron during the 4th quarter worth $25,000. Mizuho Securities Co. Ltd. acquired a new position in Chevron during the 4th quarter worth $29,000. 10Elms LLP acquired a new position in Chevron during the 4th quarter worth $29,000. Finally, Fairway Wealth LLC grew its stake in Chevron by 75.9% during the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company's stock worth $30,000 after purchasing an additional 88 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company's stock.

Chevron Stock Performance

Shares of NYSE CVX traded down $1.48 during trading hours on Friday, reaching $136.43. The stock had a trading volume of 12,856,437 shares, compared to its average volume of 8,106,167. The firm has a market cap of $238.26 billion, a price-to-earnings ratio of 14.04, a PEG ratio of 1.46 and a beta of 0.83. 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 Co. has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The firm has a 50-day moving average of $141.88 and a 200-day moving average of $150.52.

Chevron (NYSE:CVX - Get Free Report) last announced its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.15 by $0.03. The firm had revenue of $47.61 billion during the quarter, compared to analysts' expectations of $49.05 billion. Chevron had a return on equity of 11.44% and a net margin of 8.71%. The business's revenue was down 2.3% on a year-over-year basis. During the same period in the prior year, the firm earned $2.93 EPS. Equities research analysts predict that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th will be paid a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 5.01%. The ex-dividend date of this dividend is Monday, May 19th. Chevron's dividend payout ratio is presently 78.17%.

Analyst Ratings Changes

Several research firms recently commented on CVX. HSBC cut Chevron from a "buy" rating to a "hold" rating and lowered their target price for the stock from $176.00 to $158.00 in a research note on Tuesday, May 13th. TD Cowen lowered their target price on Chevron from $155.00 to $150.00 and set a "hold" rating for the company in a research note on Monday, May 5th. Raymond James lowered their price objective on Chevron from $180.00 to $175.00 and set an "outperform" rating for the company in a research report on Monday, February 3rd. Mizuho lowered their price objective on Chevron from $188.00 to $186.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. Finally, Piper Sandler lowered their price objective on Chevron from $173.00 to $162.00 and set an "overweight" rating for the company in a research report on Tuesday, May 13th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $160.24.

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.