Beaird Harris Wealth Management LLC Acquires 1,154 Shares of Chevron Co. (NYSE:CVX)

Beaird Harris Wealth Management LLC grew its holdings in shares of Chevron Co. (NYSE:CVX) by 26.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,454 shares of the oil and gas company’s stock after acquiring an additional 1,154 shares during the quarter. Beaird Harris Wealth Management LLC’s holdings in Chevron were worth $853,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Smith Thornton Advisors LLC bought a new stake in shares of Chevron during the 2nd quarter worth $602,000. Scientech Research LLC lifted its stake in Chevron by 132.3% during the second quarter. Scientech Research LLC now owns 5,003 shares of the oil and gas company’s stock worth $783,000 after purchasing an additional 2,849 shares during the last quarter. Legal & General Group Plc boosted its holdings in shares of Chevron by 4.9% in the 2nd quarter. Legal & General Group Plc now owns 13,570,971 shares of the oil and gas company’s stock worth $2,122,772,000 after purchasing an additional 629,644 shares in the last quarter. Marathon Capital Management increased its position in shares of Chevron by 0.8% during the 2nd quarter. Marathon Capital Management now owns 63,513 shares of the oil and gas company’s stock valued at $9,935,000 after purchasing an additional 481 shares during the last quarter. Finally, MBB Public Markets I LLC raised its holdings in shares of Chevron by 2,806.8% during the 2nd quarter. MBB Public Markets I LLC now owns 124,820 shares of the oil and gas company’s stock valued at $19,524,000 after buying an additional 120,526 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

NYSE:CVX opened at $145.51 on Friday. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13. The firm’s fifty day simple moving average is $146.63 and its 200 day simple moving average is $154.29. The stock has a market cap of $266.13 billion, a P/E ratio of 13.39, a price-to-earnings-growth ratio of 2.68 and a beta of 1.09. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $171.70.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.38). Chevron had a net margin of 9.31% and a return on equity of 13.70%. The company had revenue of $51.18 billion for the quarter, compared to analysts’ expectations of $48.68 billion. During the same quarter in the prior year, the firm earned $3.08 EPS. Chevron’s quarterly revenue was up 4.7% compared to the same quarter last year. As a group, research analysts predict that Chevron Co. will post 11.02 EPS for the current year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.48%. The ex-dividend date of this dividend was Monday, August 19th. Chevron’s payout ratio is presently 59.98%.

Analyst Ratings Changes

Several brokerages have issued reports on CVX. Scotiabank cut their target price on Chevron from $195.00 to $180.00 and set a “sector outperform” rating for the company in a research note on Friday, July 12th. Wells Fargo & Company cut their price objective on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research note on Friday. Barclays decreased their target price on shares of Chevron from $203.00 to $185.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 6th. Truist Financial cut their price target on shares of Chevron from $156.00 to $154.00 and set a “hold” rating for the company in a research report on Monday, August 5th. Finally, Mizuho decreased their price objective on Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a report on Monday, September 16th. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $180.24.

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.