Beaton Management Co. Inc. Invests $2.46 Million in Chevron Corporation (CVX) Stock
Beaton Management Co. Inc. purchased a new position in Chevron Corporation (NYSE:CVX) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 23,581 shares of the oil and gas company’s stock, valued at approximately $2,460,000. Chevron comprises approximately 2.4% of Beaton Management Co. Inc.’s holdings, making the stock its 9th biggest position.
Other institutional investors and hedge funds also recently modified their holdings of the company. Shine Investment Advisory Services Inc. bought a new stake in shares of Chevron during the second quarter worth $106,000. Thompson Davis & CO. Inc. lifted its position in shares of Chevron by 20.0% during the first quarter. Thompson Davis & CO. Inc. now owns 1,146 shares of the oil and gas company’s stock worth $123,000 after purchasing an additional 191 shares during the last quarter. Winfield Associates Inc. lifted its position in shares of Chevron by 5.1% during the second quarter. Winfield Associates Inc. now owns 1,301 shares of the oil and gas company’s stock worth $136,000 after purchasing an additional 63 shares during the last quarter. Daiwa SB Investments Ltd. lifted its position in shares of Chevron by 438.5% during the second quarter. Daiwa SB Investments Ltd. now owns 1,400 shares of the oil and gas company’s stock worth $146,000 after purchasing an additional 1,140 shares during the last quarter. Finally, Acrospire Investment Management LLC lifted its position in shares of Chevron by 133.3% during the second quarter. Acrospire Investment Management LLC now owns 1,400 shares of the oil and gas company’s stock worth $146,000 after purchasing an additional 800 shares during the last quarter. Institutional investors own 63.93% of the company’s stock.
In other Chevron news, VP R. Hewitt Pate sold 25,500 shares of Chevron stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $120.00, for a total value of $3,060,000.00. Following the transaction, the vice president now owns 25,500 shares in the company, valued at $3,060,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Vice Chairman Michael K. Wirth sold 1,229 shares of Chevron stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $118.00, for a total value of $145,022.00. Following the completion of the transaction, the insider now owns 1,229 shares in the company, valued at approximately $145,022. The disclosure for this sale can be found here. Insiders sold 314,000 shares of company stock worth $36,540,822 in the last quarter. 0.38% of the stock is owned by insiders.
Chevron Corporation (CVX) opened at $119.93 on Thursday. Chevron Corporation has a 52 week low of $102.55 and a 52 week high of $122.30. The company has a quick ratio of 0.84, a current ratio of 1.04 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $227,326.56, a PE ratio of 33.53, a price-to-earnings-growth ratio of 3.95 and a beta of 1.21.
Chevron (NYSE:CVX) last posted its earnings results on Friday, October 27th. The oil and gas company reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.04. Chevron had a return on equity of 4.59% and a net margin of 4.79%. The company had revenue of $36.21 billion for the quarter, compared to analyst estimates of $34.06 billion. During the same quarter in the previous year, the firm earned $0.68 earnings per share. The firm’s quarterly revenue was up 20.1% compared to the same quarter last year. equities research analysts expect that Chevron Corporation will post 4.33 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, December 11th. Shareholders of record on Friday, November 17th were paid a $1.08 dividend. The ex-dividend date was Thursday, November 16th. This represents a $4.32 annualized dividend and a yield of 3.60%. Chevron’s dividend payout ratio (DPR) is presently 125.95%.
Several research firms have recently weighed in on CVX. J P Morgan Chase & Co reiterated an “overweight” rating on shares of Chevron in a research report on Saturday, September 16th. Credit Suisse Group assumed coverage on Chevron in a research note on Monday. They set a “neutral” rating and a $123.00 price target on the stock. Cowen restated a “buy” rating and set a $122.00 price target on shares of Chevron in a research note on Tuesday, September 19th. TheStreet upgraded Chevron from a “c+” rating to a “b” rating in a research note on Monday, October 23rd. Finally, BMO Capital Markets lowered Chevron from an “outperform” rating to a “market perform” rating and set a $120.00 price target on the stock. in a research note on Wednesday, October 18th. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and fourteen have assigned a buy rating to the company. Chevron has an average rating of “Hold” and an average price target of $121.22.
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Chevron Corporation (Chevron) manages its investments in subsidiaries and affiliates, and provides administrative, financial, management and technology support to the United States and international subsidiaries that engage in integrated energy and chemicals operations. The Company operates through two business segments: Upstream and Downstream.
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