Deane Retirement Strategies Inc. Increases Stock Position in Chevron Co. (NYSE:CVX)

Deane Retirement Strategies Inc. grew its position in shares of Chevron Co. (NYSE:CVX) by 1.1% in the fourth quarter, HoldingsChannel reports. The firm owned 21,513 shares of the oil and gas company’s stock after buying an additional 226 shares during the quarter. Chevron accounts for approximately 1.6% of Deane Retirement Strategies Inc.’s investment portfolio, making the stock its 28th largest holding. Deane Retirement Strategies Inc.’s holdings in Chevron were worth $3,116,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the company. Quarry LP grew its holdings in shares of Chevron by 172.2% in the second quarter. Quarry LP now owns 411 shares of the oil and gas company’s stock valued at $64,000 after purchasing an additional 260 shares in the last quarter. Gibson Wealth Advisors LLC grew its stake in shares of Chevron by 0.7% in the 2nd quarter. Gibson Wealth Advisors LLC now owns 11,248 shares of the oil and gas company’s stock worth $1,759,000 after buying an additional 76 shares in the last quarter. RiverFront Investment Group LLC increased its holdings in shares of Chevron by 12.6% in the 2nd quarter. RiverFront Investment Group LLC now owns 69,449 shares of the oil and gas company’s stock worth $10,863,000 after buying an additional 7,759 shares during the last quarter. Farmers National Bank raised its position in shares of Chevron by 0.5% during the 2nd quarter. Farmers National Bank now owns 46,044 shares of the oil and gas company’s stock valued at $7,202,000 after buying an additional 208 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL bought a new position in shares of Chevron in the 2nd quarter valued at about $491,000. 72.42% of the stock is owned by institutional investors.

Chevron Stock Performance

CVX stock opened at $155.79 on Thursday. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11. The business has a 50-day moving average price of $153.67 and a 200 day moving average price of $151.13. The company has a market capitalization of $279.97 billion, a P/E ratio of 17.12, a PEG ratio of 1.37 and a beta of 1.12. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, beating the consensus estimate of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The business had revenue of $50.67 billion during the quarter, compared to analyst estimates of $48.86 billion. During the same quarter in the previous year, the business posted $3.05 EPS. The company’s quarterly revenue was down 6.3% compared to the same quarter last year. As a group, equities research analysts forecast that Chevron Co. will post 10.18 EPS for the current fiscal year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th were issued a $1.63 dividend. The ex-dividend date was Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.19%. Chevron’s dividend payout ratio is presently 71.65%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Royal Bank of Canada upped their price objective on Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and raised their price target for the stock from $145.00 to $185.00 in a research report on Tuesday, November 26th. Truist Financial boosted their price objective on shares of Chevron from $160.00 to $164.00 and gave the company a “hold” rating in a research report on Monday, January 13th. Wells Fargo & Company raised their target price on shares of Chevron from $171.00 to $188.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. Finally, UBS Group upped their price target on shares of Chevron from $194.00 to $195.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $175.27.

Insider Transactions at Chevron

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total value of $26,357,398.00. Following the completion of the sale, the chief executive officer now directly owns 4,280 shares in the company, valued at $685,356.40. This trade represents a 97.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.20% of the company’s stock.

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.