Chevron Corporation $CVX is Keystone Financial Planning Inc.’s 3rd Largest Position

Keystone Financial Planning Inc. increased its position in shares of Chevron Corporation (NYSE:CVX) by 217.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 78,550 shares of the oil and gas company’s stock after purchasing an additional 53,772 shares during the quarter. Chevron accounts for approximately 3.5% of Keystone Financial Planning Inc.’s investment portfolio, making the stock its 3rd largest holding. Keystone Financial Planning Inc.’s holdings in Chevron were worth $12,198,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. White Knight Strategic Wealth Advisors LLC lifted its stake in Chevron by 3.0% during the 2nd quarter. White Knight Strategic Wealth Advisors LLC now owns 2,230 shares of the oil and gas company’s stock valued at $319,000 after acquiring an additional 65 shares during the period. Rakuten Securities Inc. raised its holdings in shares of Chevron by 7.4% during the second quarter. Rakuten Securities Inc. now owns 961 shares of the oil and gas company’s stock worth $138,000 after purchasing an additional 66 shares during the last quarter. Analyst IMS Investment Management Services Ltd. raised its holdings in shares of Chevron by 1.0% during the second quarter. Analyst IMS Investment Management Services Ltd. now owns 6,751 shares of the oil and gas company’s stock worth $966,000 after purchasing an additional 67 shares during the last quarter. Greenfield Savings Bank lifted its position in Chevron by 0.6% during the second quarter. Greenfield Savings Bank now owns 11,611 shares of the oil and gas company’s stock valued at $1,663,000 after purchasing an additional 68 shares during the period. Finally, Atwater Malick LLC boosted its holdings in Chevron by 2.4% in the second quarter. Atwater Malick LLC now owns 2,886 shares of the oil and gas company’s stock valued at $413,000 after purchasing an additional 68 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Buying and Selling at Chevron

In related news, Director John B. Hess sold 275,000 shares of the company’s stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $150.75, for a total transaction of $41,456,250.00. Following the completion of the transaction, the director owned 1,128,045 shares in the company, valued at $170,052,783.75. This represents a 19.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.21% of the stock is currently owned by company insiders.

Chevron Trading Down 1.2%

Shares of NYSE:CVX opened at $147.69 on Friday. Chevron Corporation has a 1 year low of $132.04 and a 1 year high of $168.96. The firm has a market capitalization 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. The business’s 50 day moving average price is $152.34 and its 200-day moving average price is $152.30.

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

Chevron Announces Dividend

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

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Wells Fargo & Company lifted their price objective on Chevron from $190.00 to $196.00 and gave the company an “overweight” rating in a research note on Friday, November 14th. Morgan Stanley raised their target price on Chevron from $177.00 to $180.00 and gave the stock an “overweight” rating in a report on Thursday, November 13th. UBS Group reissued a “buy” rating on shares of Chevron in a report on Monday, December 1st. Barclays lowered their price objective on Chevron from $160.00 to $158.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 7th. Finally, Mizuho raised their price objective on shares of Chevron from $204.00 to $206.00 and gave the stock an “outperform” rating in a research note on Friday, December 12th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, seven have given a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, Chevron currently has a consensus rating of “Hold” and an average target price 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.