Keystone Financial Planning Inc. boosted its holdings in Chevron Co. (NYSE:CVX – Free Report) by 4.6% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 28,256 shares of the oil and gas company’s stock after purchasing an additional 1,247 shares during the quarter. Chevron comprises approximately 1.5% of Keystone Financial Planning Inc.’s portfolio, making the stock its 20th biggest position. Keystone Financial Planning Inc.’s holdings in Chevron were worth $4,446,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Rebalance LLC purchased a new stake in Chevron in the fourth quarter valued at approximately $26,000. NewSquare Capital LLC lifted its stake in Chevron by 52.3% in the first quarter. NewSquare Capital LLC now owns 195 shares of the oil and gas company’s stock valued at $32,000 after buying an additional 67 shares during the last quarter. Artemis Wealth Advisors LLC purchased a new stake in Chevron in the first quarter valued at approximately $33,000. Worth Asset Management LLC purchased a new stake in Chevron in the first quarter valued at approximately $36,000. Finally, HBC Financial Services PLLC purchased a new stake in Chevron in the first quarter valued at approximately $37,000. 68.87% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of brokerages have weighed in on CVX. Citigroup reduced their price objective on Chevron from $180.00 to $170.00 in a research note on Tuesday, July 11th. StockNews.com initiated coverage on Chevron in a research note on Thursday, August 17th. They set a “hold” rating for the company. JPMorgan Chase & Co. upgraded Chevron from an “underweight” rating to a “neutral” rating and upped their price target for the stock from $161.00 to $170.00 in a research note on Wednesday, May 31st. Truist Financial upped their price target on Chevron from $163.00 to $165.00 and gave the stock a “hold” rating in a research note on Monday, July 31st. Finally, Mizuho upped their price target on Chevron from $209.00 to $215.00 and gave the stock a “buy” rating in a research note on Monday. Seven 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.com, Chevron currently has a consensus rating of “Moderate Buy” and a consensus target price of $190.61.
Chevron Stock Up 0.4 %
Chevron stock opened at $167.22 on Tuesday. 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 firm has a market capitalization of $312.24 billion, a price-to-earnings ratio of 10.60, a price-to-earnings-growth ratio of 0.88 and a beta of 1.18. Chevron Co. has a fifty-two week low of $140.46 and a fifty-two week high of $189.68. The stock’s fifty day moving average is $160.80 and its two-hundred day moving average is $160.15.
Chevron (NYSE:CVX – Get Free Report) last posted its earnings results on Friday, July 28th. The oil and gas company reported $3.08 earnings per share for the quarter, beating the consensus estimate of $2.95 by $0.13. The company had revenue of $48.90 billion for the quarter, compared to analyst estimates of $48 billion. Chevron had a return on equity of 19.48% and a net margin of 13.54%. Chevron’s revenue was down 28.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $5.82 earnings per share. Analysts predict that Chevron Co. will post 13.23 EPS for the current fiscal year.
Chevron Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Monday, September 11th. Investors of record on Friday, August 18th were paid a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a dividend yield of 3.61%. The ex-dividend date was Thursday, August 17th. Chevron’s payout ratio is currently 38.30%.
Insider Activity at Chevron
In related news, CFO Pierre R. Breber sold 25,000 shares of the stock in a transaction 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 sale, the chief financial officer now owns 6,021 shares of the company’s stock, valued at $987,444. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CFO Pierre R. Breber sold 25,000 shares of the stock in a transaction 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 sale, the chief financial officer now owns 6,021 shares of the company’s stock, valued at $987,444. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Jeff B. Gustavson sold 3,750 shares of the stock in a transaction 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 directly owns 1,718 shares in the company, 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.
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.
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