Deane Retirement Strategies Inc. Acquires Shares of 39,525 Chevron Corporation $CVX

Key Points

• Deane Retirement Strategies acquired 39,525 Chevron shares worth approximately $6.56 million, making Chevron its ninth-largest holding and representing about 2.8% of its portfolio. Institutional investors collectively own 72.42% of Chevron.
• Chevron reported strong quarterly results, with EPS of $6.06 and revenue of $67.2 billion, both ahead of estimates and substantially above the prior year. Analysts maintain a “Moderate Buy” consensus with an average price target of $207.48, while the company declared a quarterly dividend of $1.78.
• Insiders sold significant amounts of stock: Director John B. Hess and CEO Michael Wirth sold shares, contributing to $231.8 million in insider sales over the past 90 days. The transactions may weigh on sentiment despite Chevron’s improved operating performance.

Deane Retirement Strategies Inc. bought a new stake in Chevron Corporation (NYSE:CVX - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 39,525 shares of the oil and gas company's stock, valued at approximately $6,556,000. Chevron makes up approximately 2.8% of Deane Retirement Strategies Inc.'s investment portfolio, making the stock its 9th largest holding.

Other large investors have also made changes to their positions in the company. Midwest Capital Advisors LLC acquired a new stake in shares of Chevron during the first quarter worth approximately $25,000. Main Street Group LTD acquired a new position in shares of Chevron in the 1st quarter worth approximately $28,000. Phillip James Consulting Co. acquired a new position in shares of Chevron in the 4th quarter worth approximately $26,000. Core Wealth Advisors LLC bought a new stake in Chevron during the 4th quarter worth approximately $26,000. Finally, Karpus Management Inc. bought a new stake in Chevron during the 4th quarter worth approximately $27,000. Institutional investors own 72.42% of the company's stock.

Key Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron reported a sharp earnings rebound, with quarterly net income reaching $12.1 billion versus $2.5 billion a year earlier. The company also exceeded earnings and revenue expectations, benefiting from higher energy prices and Middle Eastern supply disruptions. Chevron Turned $3.1 Billion Loss Into A Gain
• Positive Sentiment: Analysts remain constructive, with TD Cowen forecasting meaningful appreciation potential. Coverage also highlights record production, debt reduction and Chevron’s long-term power agreement with Microsoft as support for the investment case. TD Cowen Forecasts Strong Price Appreciation for Chevron
• Positive Sentiment: Chevron’s dividend, scale, financial strength and resilient operations continue to attract income-focused investors despite volatile oil prices. The company is also expanding its North American base-oils distribution network, potentially supporting downstream growth and product diversification. Beyond Oil Prices: The Case for 3 Dividend-Paying Energy Giants
• Neutral Sentiment: Conflict-related uncertainty in the Gulf is keeping energy options premiums elevated and creating trading opportunities around major oil companies. The same volatility could support Chevron’s cash flow, but it also increases commodity and geopolitical risk. Gulf Uncertainty Is Creating a Win-Win Strategy
• Negative Sentiment: Director John B. Hess sold 810,665 shares in disclosed transactions, reducing his holdings substantially. CEO Michael Wirth separately sold 5,547 shares, or 17.41% of his direct position. Large insider sales may pressure sentiment, although they do not necessarily indicate deteriorating business fundamentals. Chevron Director Insider Sale Filing

Insider Buying and Selling at Chevron

In related news, Director John B. Hess sold 710,665 shares of Chevron stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $194.10, for a total transaction of $137,940,076.50. Following the completion of the sale, the director directly owned 363,711 shares of the company's stock, valued at $70,596,305.10. The trade was a 66.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael K. Wirth sold 5,547 shares of the stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $187.00, for a total value of $1,037,289.00. Following the completion of the transaction, the chief executive officer directly owned 26,308 shares in the company, valued at $4,919,596. The trade was a 17.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,196,212 shares of company stock worth $231,819,366 over the last 90 days. 0.56% of the stock is owned by corporate insiders.

Analyst Ratings Changes

CVX has been the subject of several research analyst reports. Wall Street Zen upgraded Chevron from a "hold" rating to a "buy" rating in a research report on Saturday. Scotiabank increased their target price on Chevron from $168.00 to $187.00 and gave the stock a "sector perform" rating in a report on Wednesday, April 22nd. Mizuho set a $224.00 target price on Chevron in a research note on Monday, August 3rd. Zacks Research cut Chevron from a "strong-buy" rating to a "hold" rating in a report on Monday, June 8th. Finally, Sanford C. Bernstein upped their price target on shares of Chevron from $204.00 to $209.00 and gave the stock a "market perform" rating in a research report on Monday, August 3rd. Eighteen investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $207.48.

Chevron Stock Performance

Shares of NYSE:CVX opened at $186.42 on Monday. The company has a current ratio of 1.25, a quick ratio of 0.98 and a debt-to-equity ratio of 0.19. Chevron Corporation has a 1-year low of $146.49 and a 1-year high of $214.71. The stock has a market capitalization of $368.33 billion, a P/E ratio of 17.87, a P/E/G ratio of 0.57 and a beta of 0.49. The business has a 50-day moving average price of $182.37 and a two-hundred day moving average price of $185.94.

Chevron (NYSE:CVX - Get Free Report) last issued its earnings results on Friday, July 31st. The oil and gas company reported $6.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.55 by $0.51. Chevron had a net margin of 9.57% and a return on equity of 11.09%. The company had revenue of $67.20 billion for the quarter, compared to analyst estimates of $62.72 billion. During the same quarter last year, the firm earned $1.77 EPS. The company's revenue for the quarter was up 57.4% on a year-over-year basis. Equities analysts predict that Chevron Corporation will post 15.86 earnings per share for the current year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be paid a $1.78 dividend. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.8%. Chevron's dividend payout ratio is 68.26%.

Chevron Company Profile

Chevron Corporation NYSE: CVX is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron's core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.

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