A. D. Beadell Investment Counsel Inc. Cuts Holdings in Chevron Co. (NYSE:CVX)

A. D. Beadell Investment Counsel Inc. lowered its holdings in Chevron Co. (NYSE:CVX) by 5.6% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 6,758 shares of the oil and gas company’s stock after selling 400 shares during the quarter. A. D. Beadell Investment Counsel Inc.’s holdings in Chevron were worth $995,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. American Capital Advisory LLC raised its position in Chevron by 403.2% during the first quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 125 shares in the last quarter. Anfield Capital Management LLC boosted its position in shares of Chevron by 118.0% in the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock worth $34,000 after purchasing an additional 118 shares in the last quarter. Cyrus J. Lawrence LLC boosted its position in shares of Chevron by 66.7% in the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 100 shares in the last quarter. Cooksen Wealth LLC bought a new stake in shares of Chevron in the 4th quarter worth approximately $40,000. Finally, Vima LLC purchased a new position in Chevron in the 4th quarter worth approximately $44,000. Institutional investors own 72.42% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on CVX shares. Wells Fargo & Company decreased their target price on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research note on Friday, September 27th. Truist Financial reduced their price objective on Chevron from $154.00 to $150.00 and set a “hold” rating for the company in a research note on Monday, September 30th. Barclays reduced their price objective on Chevron from $185.00 to $168.00 and set an “overweight” rating for the company in a research note on Thursday, October 3rd. Sanford C. Bernstein lowered Chevron from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $183.00 to $167.00 in a research note on Wednesday, July 17th. Finally, Scotiabank dropped their target price on shares of Chevron from $195.00 to $180.00 and set a “sector outperform” rating for the company in a report on Friday, July 12th. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $178.59.

Chevron Stock Up 0.3 %

Shares of NYSE CVX traded up $0.50 during mid-day trading on Thursday, reaching $150.15. The company had a trading volume of 1,334,681 shares, compared to its average volume of 7,763,369. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13. The firm has a 50 day simple moving average of $145.45 and a two-hundred day simple moving average of $154.02. The stock has a market cap of $274.61 billion, a P/E ratio of 13.87, a PEG ratio of 2.72 and a beta of 1.09. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $170.17.

Chevron (NYSE:CVX) last posted its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $48.68 billion. During the same period last year, the business earned $3.08 earnings per share. The company’s quarterly revenue was up 4.7% on a year-over-year basis. Sell-side analysts predict that Chevron Co. will post 11.09 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 4.34%. The ex-dividend date of this dividend was Monday, August 19th. Chevron’s payout ratio is currently 59.98%.

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.