Keystone Financial Planning Inc. Has $3.55 Million Stock Position in Chevron Corporation $CVX

Keystone Financial Planning Inc. reduced its stake in Chevron Corporation (NYSE:CVX) by 2.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,778 shares of the oil and gas company’s stock after selling 580 shares during the quarter. Chevron accounts for 1.1% of Keystone Financial Planning Inc.’s portfolio, making the stock its 18th largest position. Keystone Financial Planning Inc.’s holdings in Chevron were worth $3,548,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. DDD Partners LLC grew its stake in Chevron by 11.6% in the 2nd quarter. DDD Partners LLC now owns 154,261 shares of the oil and gas company’s stock valued at $22,089,000 after buying an additional 15,993 shares during the last quarter. Moloney Securities Asset Management LLC grew its position in shares of Chevron by 2.2% during the 2nd quarter. Moloney Securities Asset Management LLC now owns 26,399 shares of the oil and gas company’s stock worth $3,780,000 after purchasing an additional 560 shares in the last quarter. Jackson Hole Capital Partners LLC grew its position in shares of Chevron by 39.3% during the 2nd quarter. Jackson Hole Capital Partners LLC now owns 18,207 shares of the oil and gas company’s stock worth $2,607,000 after purchasing an additional 5,140 shares in the last quarter. Catalyst Capital Advisors LLC grew its position in shares of Chevron by 8.9% during the 2nd quarter. Catalyst Capital Advisors LLC now owns 17,347 shares of the oil and gas company’s stock worth $2,484,000 after purchasing an additional 1,414 shares in the last quarter. Finally, R Squared Ltd acquired a new position in shares of Chevron during the 2nd quarter worth approximately $268,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Raymond James Financial reaffirmed an “outperform” rating and set a $160.00 price target (down previously from $170.00) on shares of Chevron in a report on Friday, October 17th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Chevron in a report on Friday. Bank of America increased their price objective on shares of Chevron from $170.00 to $185.00 and gave the company a “buy” rating in a research note on Wednesday, September 10th. Morgan Stanley began coverage on shares of Chevron in a research note on Monday, August 4th. They issued an “overweight” rating and a $174.00 price objective for the company. Finally, Wells Fargo & Company began coverage on shares of Chevron in a research note on Friday, October 17th. They issued an “overweight” rating and a $190.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, Chevron presently has a consensus rating of “Hold” and a consensus price target of $165.25.

Insider Transactions at Chevron

In other Chevron news, Director John B. Hess sold 375,000 shares of the business’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $158.30, for a total value of $59,362,500.00. Following the transaction, the director directly owned 1,403,045 shares in the company, valued at $222,102,023.50. The trade was a 21.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Alana K. Knowles sold 3,978 shares of the business’s stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $160.00, for a total transaction of $636,480.00. Following the completion of the sale, the vice president directly owned 1,181 shares in the company, valued at approximately $188,960. This trade represents a 77.11% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company’s stock.

Chevron Trading Down 0.6%

CVX opened at $155.63 on Friday. The company has a market cap of $268.92 billion, a P/E ratio of 20.03, a price-to-earnings-growth ratio of 4.45 and a beta of 0.84. The company has a fifty day moving average price of $156.04 and a two-hundred day moving average price of $148.38. Chevron Corporation has a 1-year low of $132.04 and a 1-year high of $168.96. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.19. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The firm had revenue of $44.82 billion during the quarter, compared to analysts’ expectations of $44.59 billion. During the same period last year, the company earned $2.55 earnings per share. The business’s revenue was down 12.4% on a year-over-year basis. Analysts predict that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were given a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date of this dividend was Tuesday, August 19th. Chevron’s dividend payout ratio is presently 88.03%.

Chevron Company 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.