Keystone Financial Planning Inc. Boosts Stock Holdings in Chevron Corporation $CVX

Keystone Financial Planning Inc. boosted its stake in shares of Chevron Corporation (NYSE:CVX) by 217.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 78,550 shares of the oil and gas company’s stock after buying an additional 53,772 shares during the quarter. Chevron makes up 3.5% of Keystone Financial Planning Inc.’s portfolio, making the stock its 3rd largest position. Keystone Financial Planning Inc.’s holdings in Chevron were worth $12,198,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the stock. Quaker Wealth Management LLC grew its stake in Chevron by 197.7% in the second quarter. Quaker Wealth Management LLC now owns 217 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 439 shares in the last quarter. Vermillion & White Wealth Management Group LLC raised its position in Chevron by 86.1% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 255 shares of the oil and gas company’s stock valued at $37,000 after purchasing an additional 118 shares in the last quarter. IMG Wealth Management Inc. lifted its holdings in shares of Chevron by 52.3% in the 2nd quarter. IMG Wealth Management Inc. now owns 265 shares of the oil and gas company’s stock worth $38,000 after buying an additional 91 shares during the period. GFG Capital LLC bought a new position in shares of Chevron during the 2nd quarter worth $42,000. Finally, LFA Lugano Financial Advisors SA grew its position in shares of Chevron by 106.7% during the 2nd quarter. LFA Lugano Financial Advisors SA now owns 310 shares of the oil and gas company’s stock worth $44,000 after buying an additional 160 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors.

Chevron Stock Down 1.2%

Shares of CVX stock opened at $147.69 on Friday. The stock’s fifty day moving average price is $152.34 and its 200 day moving average price is $152.30. Chevron Corporation has a 1-year low of $132.04 and a 1-year high of $168.96. The company has a market cap of $297.38 billion, a price-to-earnings ratio of 20.77, a price-to-earnings-growth ratio of 8.88 and a beta of 0.68. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.15 and a quick ratio of 0.86.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, October 31st. The oil and gas company reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.71 by $0.14. Chevron had a return on equity of 8.74% and a net margin of 6.57%.The business had revenue of $48.17 billion during the quarter, compared to the consensus estimate of $46.99 billion. During the same quarter last year, the company earned $2.48 earnings per share. The company’s quarterly revenue was down 1.9% on a year-over-year basis. On average, research analysts expect that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Tuesday, November 18th were given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 4.6%. The ex-dividend date of this dividend was Tuesday, November 18th. Chevron’s payout ratio is currently 96.20%.

Insider Transactions at Chevron

In other Chevron news, Director John B. Hess sold 275,000 shares of the firm’s stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $150.75, for a total value of $41,456,250.00. Following the completion of the transaction, the director owned 1,128,045 shares of the company’s stock, valued at approximately $170,052,783.75. This trade represents a 19.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.21% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the company. UBS Group restated a “buy” rating on shares of Chevron in a report on Monday, December 1st. Piper Sandler reduced their price target on shares of Chevron from $171.00 to $169.00 and set an “overweight” rating for the company in a report on Monday, November 10th. Barclays lowered their price target on shares of Chevron from $160.00 to $158.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 7th. Bank of America cut their price objective on shares of Chevron from $183.00 to $180.00 and set a “buy” rating on the stock in a report on Thursday, December 11th. Finally, Raymond James Financial reissued an “outperform” rating and issued a $160.00 price objective (down previously from $170.00) on shares of Chevron in a research note on Friday, October 17th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, seven have given a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, Chevron presently has an average rating of “Hold” and an average price target of $166.00.

About Chevron

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.