Keystone Financial Planning Inc. Increases Stock Position in Chevron Corporation $CVX

Keystone Financial Planning Inc. boosted its position in shares of Chevron Corporation (NYSE:CVX) by 228.8% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 81,844 shares of the oil and gas company’s stock after purchasing an additional 56,954 shares during the period. Chevron makes up about 3.5% of Keystone Financial Planning Inc.’s holdings, making the stock its 3rd biggest holding. Keystone Financial Planning Inc.’s holdings in Chevron were worth $13,566,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. California State Teachers Retirement System lifted its stake in shares of Chevron by 19,425.5% in the second quarter. California State Teachers Retirement System now owns 432,663,934 shares of the oil and gas company’s stock worth $71,718,374,000 after buying an additional 430,448,040 shares in the last quarter. BlackRock Inc. bought a new stake in shares of Chevron during the second quarter valued at approximately $25,663,729,000. State Street Corp raised its holdings in Chevron by 9.1% in the 3rd quarter. State Street Corp now owns 152,605,988 shares of the oil and gas company’s stock worth $23,698,184,000 after acquiring an additional 12,789,399 shares during the last quarter. Berkshire Hathaway Inc raised its holdings in Chevron by 6.6% in the 4th quarter. Berkshire Hathaway Inc now owns 130,156,362 shares of the oil and gas company’s stock worth $19,837,131,000 after acquiring an additional 8,091,570 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in Chevron by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 43,613,011 shares of the oil and gas company’s stock valued at $6,620,187,000 after acquiring an additional 134,890 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on CVX shares. Morgan Stanley raised their price target on shares of Chevron from $210.00 to $218.00 and gave the company an “overweight” rating in a report on Wednesday, August 19th. Wall Street Zen raised Chevron from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. UBS Group reiterated a “buy” rating on shares of Chevron in a research report on Tuesday, June 23rd. Mizuho set a $224.00 price target on Chevron in a research report on Monday, August 3rd. Finally, Barclays lowered their price objective on Chevron from $216.00 to $208.00 and set an “equal weight” rating on the stock in a research report on Monday, August 17th. Twenty equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $211.35.

Key Headlines Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Brent crude rose above $100 per barrel and WTI topped $95 amid escalating Middle East tensions. Higher oil prices can support Chevron’s upstream revenue, earnings and cash flow. Comparing Energy ETFs: Positioning Portfolios as Oil Hits $100
• Positive Sentiment: Chevron plans to double its Venezuelan oil rigs as part of a five-year, roughly $7 billion investment program, targeting production of up to 600,000 barrels per day by 2031. The expansion offers significant long-term volume growth if political, regulatory and operating conditions cooperate. Chevron to double oil rigs in Venezuela as part of growth plan
• Positive Sentiment: Chief Financial Officer Eimear Bonner emphasized Chevron’s scale, cost-efficiency efforts in U.S. shale and global expansion. Investors may view these initiatives, along with Hess-related synergies and strong free cash flow, as evidence of greater financial flexibility. Chevron CFO Says Oil Giant Is Bigger, Better and Stronger Than We’ve Ever Been
• Positive Sentiment: Chevron remains attractive to income-oriented investors because of its scale, balance-sheet strength and shareholder returns, particularly while energy prices are elevated. Oil Prices Are Climbing, Yet These 3 Energy Stocks Yield 3%+

Insider Buying and Selling

In other news, Director John B. Hess sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $194.26, for a total value of $19,426,000.00. Following the completion of the sale, the director directly owned 178,045 shares of the company’s stock, valued at $34,587,021.70. This trade represents a 35.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael K. Wirth sold 317,100 shares of Chevron stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $200.46, for a total value of $63,565,866.00. Following the completion of the transaction, the chief executive officer owned 26,308 shares of the company’s stock, valued at approximately $5,273,701.68. This trade represents a 92.34% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 1,152,582 shares of company stock valued at $225,853,661. Insiders own 0.56% of the company’s stock.

Chevron Price Performance

Shares of Chevron stock opened at $213.69 on Thursday. The stock has a 50 day moving average of $193.75 and a 200 day moving average of $190.40. Chevron Corporation has a 12 month low of $146.49 and a 12 month high of $215.28. The company has a current ratio of 1.25, a quick ratio of 0.98 and a debt-to-equity ratio of 0.19. The firm has a market cap of $422.20 billion, a PE ratio of 20.49, a PEG ratio of 0.62 and a beta of 0.50.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, July 31st. The oil and gas company reported $6.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $62.72 billion. During the same quarter in the prior year, the firm earned $1.77 earnings per share. Chevron’s revenue was up 57.4% on a year-over-year basis. On average, research analysts expect that Chevron Corporation will post 16.51 EPS for the current fiscal year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be given a $1.78 dividend. The ex-dividend date is Wednesday, August 19th. This represents a $7.12 annualized dividend and a yield of 3.3%. Chevron’s dividend payout ratio (DPR) is currently 68.26%.

Chevron Company Profile

Chevron Corporation is an integrated energy company engaged in the exploration, production, transportation and sale of crude oil and natural gas. The company also manufactures and markets transportation fuels, lubricants, petrochemicals and additives through operations and brands that include Chevron, Texaco and Caltex.

Chevron’s upstream activities include oil and natural gas exploration and production, while its downstream business includes refining, fuel marketing, transportation and related energy services.