Chevron Corporation $CVX Shares Acquired by Deroy & Devereaux Private Investment Counsel Inc.

Deroy & Devereaux Private Investment Counsel Inc. grew its stake in Chevron Corporation (NYSE:CVX) by 0.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 199,252 shares of the oil and gas company’s stock after purchasing an additional 590 shares during the quarter. Chevron makes up approximately 1.5% of Deroy & Devereaux Private Investment Counsel Inc.’s holdings, making the stock its 22nd biggest holding. Deroy & Devereaux Private Investment Counsel Inc.’s holdings in Chevron were worth $28,531,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Mutual Advisors LLC raised its stake in Chevron by 7.3% during the second quarter. Mutual Advisors LLC now owns 88,759 shares of the oil and gas company’s stock worth $13,743,000 after acquiring an additional 6,058 shares during the period. Generali Asset Management SPA SGR raised its stake in Chevron by 1.0% during the second quarter. Generali Asset Management SPA SGR now owns 74,954 shares of the oil and gas company’s stock worth $10,733,000 after acquiring an additional 775 shares during the period. Ritholtz Wealth Management raised its stake in Chevron by 12.1% during the second quarter. Ritholtz Wealth Management now owns 31,876 shares of the oil and gas company’s stock worth $4,564,000 after acquiring an additional 3,449 shares during the period. Triton Wealth Management PLLC acquired a new stake in Chevron during the second quarter worth about $442,000. Finally, Sterling Financial Planning Inc. raised its stake in Chevron by 4.9% during the second quarter. Sterling Financial Planning Inc. now owns 2,127 shares of the oil and gas company’s stock worth $305,000 after acquiring an additional 100 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Price Performance

Shares of NYSE:CVX opened at $152.47 on Wednesday. The firm’s 50 day moving average is $156.12 and its two-hundred day moving average is $148.34. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $168.96. The firm has a market capitalization of $263.47 billion, a P/E ratio of 19.62, a PEG ratio of 1.97 and a beta of 0.84. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, beating the consensus estimate of $1.58 by $0.19. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The company had revenue of $44.82 billion for the quarter, compared to analyst estimates of $44.59 billion. During the same quarter last year, the business earned $2.55 earnings per share. Chevron’s revenue was down 12.4% compared to the same quarter last year. Analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were issued a $1.71 dividend. The ex-dividend date was Tuesday, August 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.5%. Chevron’s dividend payout ratio (DPR) is 88.03%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CVX. Morgan Stanley began coverage on shares of Chevron in a research note on Monday, August 4th. They set an “overweight” rating and a $174.00 price objective on the stock. Bank of America increased their price objective on shares of Chevron from $170.00 to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, September 10th. Mizuho dropped their price objective on shares of Chevron from $192.00 to $191.00 and set an “outperform” rating on the stock in a research note on Monday, September 15th. TD Cowen increased their price objective on shares of Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a research note on Monday, August 4th. Finally, Wells Fargo & Company restated an “overweight” rating and issued a $178.00 price target on shares of Chevron in a research note on Friday, August 1st. Eleven equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, Chevron presently has an average rating of “Hold” and an average target price of $165.40.

Insider Activity at Chevron

In other news, VP Alana K. Knowles sold 3,978 shares of the stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $160.00, for a total value of $636,480.00. Following the completion of the transaction, the vice president directly owned 1,181 shares in the company, valued at $188,960. This trade represents a 77.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John B. Hess sold 375,000 shares of the stock in a transaction that occurred on Friday, August 22nd. The shares were 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 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 ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.20% of the company’s stock.

Chevron Company Profile

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.