Chevron Corporation $CVX Shares Bought by Deane Retirement Strategies Inc.

Key Points

• Deane Retirement Strategies Inc. increased its stake in Chevron Corporation by 18.6% during the second quarter, now owning 26,040 shares valued at $3.73 million.
• Insider selling occurred as Director John B. Hess sold 375,000 shares for approximately $59.36 million, reducing his position by 21.09%.
• Chevron announced a quarterly dividend of $1.71 per share, resulting in an annualized yield of 4.4%, with a payout ratio of 88.03%.

Deane Retirement Strategies Inc. lifted its position in Chevron Corporation (NYSE:CVX - Free Report) by 18.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 26,040 shares of the oil and gas company's stock after acquiring an additional 4,080 shares during the period. Chevron comprises approximately 1.7% of Deane Retirement Strategies Inc.'s holdings, making the stock its 28th largest position. Deane Retirement Strategies Inc.'s holdings in Chevron were worth $3,730,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Sage Capital Advisors llc grew its stake in shares of Chevron by 2.2% during the 1st quarter. Sage Capital Advisors llc now owns 42,421 shares of the oil and gas company's stock worth $7,097,000 after acquiring an additional 919 shares in the last quarter. CCG Wealth Management LLC increased its stake in Chevron by 2.3% in the 1st quarter. CCG Wealth Management LLC now owns 6,334 shares of the oil and gas company's stock worth $1,060,000 after purchasing an additional 145 shares during the period. Ignite Planners LLC boosted its position in shares of Chevron by 14.1% during the first quarter. Ignite Planners LLC now owns 12,316 shares of the oil and gas company's stock valued at $2,060,000 after purchasing an additional 1,519 shares in the last quarter. Vista Capital Partners Inc. lifted its holdings in shares of Chevron by 9.1% during the first quarter. Vista Capital Partners Inc. now owns 5,938 shares of the oil and gas company's stock valued at $993,000 after purchasing an additional 495 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund increased its position in Chevron by 0.5% in the first quarter. Oregon Public Employees Retirement Fund now owns 143,914 shares of the oil and gas company's stock worth $24,075,000 after buying an additional 675 shares in the last quarter. Institutional investors own 72.42% of the company's stock.

Insider Activity at Chevron

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

Chevron Price Performance

Chevron stock opened at $156.11 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00. The company has a market cap of $269.76 billion, a P/E ratio of 20.09, a price-to-earnings-growth ratio of 1.96 and a beta of 0.90. The business has a fifty day moving average of $155.24 and a two-hundred day moving average of $148.99. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96.

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

Chevron Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Melius initiated coverage on shares of Chevron in a research note on Wednesday, August 20th. They set a "hold" rating and a $155.00 price target on the stock. Piper Sandler boosted their price target on Chevron from $164.00 to $168.00 and gave the stock an "overweight" rating in a report on Monday, August 18th. UBS Group upped their target price on Chevron from $186.00 to $197.00 and gave the stock a "buy" rating in a research report on Wednesday, August 20th. Evercore ISI reiterated an "outperform" rating and set a $180.00 price target on shares of Chevron in a research report on Thursday, July 31st. Finally, Barclays restated an "equal weight" rating on shares of Chevron in a report on Tuesday, July 15th. Eleven investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, Chevron presently has a consensus rating of "Hold" and an average target price of $165.05.

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.

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