Beese Fulmer Investment Management Inc. Has $14.48 Million Stock Holdings in Chevron Co. (NYSE:CVX)

Beese Fulmer Investment Management Inc. grew its position in Chevron Co. (NYSE:CVX) by 0.5% during the 2nd quarter, Holdings Channel reports. The firm owned 92,024 shares of the oil and gas company’s stock after purchasing an additional 456 shares during the quarter. Chevron makes up about 1.6% of Beese Fulmer Investment Management Inc.’s investment portfolio, making the stock its 15th biggest position. Beese Fulmer Investment Management Inc.’s holdings in Chevron were worth $14,480,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Miracle Mile Advisors LLC increased its position in shares of Chevron by 0.3% in the first quarter. Miracle Mile Advisors LLC now owns 19,980 shares of the oil and gas company’s stock worth $3,260,000 after purchasing an additional 60 shares during the period. First American Trust FSB grew its position in Chevron by 1.4% in the first quarter. First American Trust FSB now owns 4,469 shares of the oil and gas company’s stock valued at $729,000 after acquiring an additional 61 shares during the last quarter. Zullo Investment Group Inc. grew its position in Chevron by 1.7% in the fourth quarter. Zullo Investment Group Inc. now owns 3,740 shares of the oil and gas company’s stock valued at $671,000 after acquiring an additional 63 shares during the last quarter. Janiczek Wealth Management LLC grew its position in Chevron by 1.8% in the first quarter. Janiczek Wealth Management LLC now owns 3,474 shares of the oil and gas company’s stock valued at $599,000 after acquiring an additional 63 shares during the last quarter. Finally, LWM Advisory Services LLC grew its position in Chevron by 2.3% in the first quarter. LWM Advisory Services LLC now owns 2,803 shares of the oil and gas company’s stock valued at $460,000 after acquiring an additional 64 shares during the last quarter. Institutional investors and hedge funds own 68.87% of the company’s stock.

Insider Activity

In other news, CFO Pierre R. Breber sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $164.00, for a total transaction of $4,100,000.00. Following the completion of the sale, the chief financial officer now owns 6,021 shares in the company, valued at $987,444. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CFO Pierre R. Breber sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $164.00, for a total transaction of $4,100,000.00. Following the completion of the sale, the chief financial officer now owns 6,021 shares in the company, valued at $987,444. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Jeff B. Gustavson sold 3,750 shares of the business’s stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $160.88, for a total value of $603,300.00. Following the sale, the vice president now owns 1,718 shares of the company’s stock, valued at approximately $276,391.84. The disclosure for this sale can be found here. Corporate insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on CVX shares. The Goldman Sachs Group upgraded Chevron from a “neutral” rating to a “buy” rating and lifted their target price for the company from $166.00 to $187.00 in a research report on Monday, July 31st. Mizuho lifted their price target on Chevron from $209.00 to $215.00 and gave the company a “buy” rating in a research note on Monday. UBS Group lifted their price target on Chevron from $202.00 to $209.00 and gave the company a “buy” rating in a research note on Thursday, August 17th. HSBC lifted their price target on Chevron from $180.00 to $184.00 in a research note on Wednesday, August 9th. Finally, Truist Financial lifted their price target on Chevron from $163.00 to $165.00 and gave the company a “hold” rating in a research note on Monday, July 31st. Seven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $190.61.

Chevron Price Performance

Shares of CVX opened at $167.22 on Tuesday. Chevron Co. has a 52-week low of $140.46 and a 52-week high of $189.68. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.13 and a current ratio of 1.43. The business’s 50 day moving average price is $160.80 and its two-hundred day moving average price is $160.15. The firm has a market cap of $312.24 billion, a PE ratio of 10.60, a price-to-earnings-growth ratio of 0.88 and a beta of 1.18.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, July 28th. The oil and gas company reported $3.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.95 by $0.13. Chevron had a return on equity of 19.48% and a net margin of 13.54%. The firm had revenue of $48.90 billion for the quarter, compared to analyst estimates of $48 billion. During the same period in the previous year, the firm earned $5.82 earnings per share. The company’s revenue was down 28.9% compared to the same quarter last year. On average, equities analysts anticipate that Chevron Co. will post 13.23 EPS for the current year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 11th. Stockholders of record on Friday, August 18th were issued a dividend of $1.51 per share. The ex-dividend date of this dividend was Thursday, August 17th. This represents a $6.04 annualized dividend and a dividend yield of 3.61%. Chevron’s dividend payout ratio is 38.30%.

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; liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and processing, transportation, storage, and marketing of natural gas, as well as a gas-to-liquids plant.