Shares of Chevron Co. (NYSE:CVX) acquired by Deane Retirement Strategies Inc.

Deane Retirement Strategies Inc. increased its stake in Chevron Co. (NYSE:CVX – Free Report) by 2,428.1% during the 3rd quarter, HoldingsChannel reports. The fund owned 21,287 shares of the oil and gas company’s stock after purchasing an additional 20,445 shares during the period. Chevron comprises 1.5% of Deane Retirement Strategies Inc.’s portfolio, making the stock its 29th largest position. Holdings held by Deane Retirement Strategies Inc. holdings in Chevron were worth $3,133,000 at the end of the most recent quarter.

Several other institutional investors have recently added to or reduced their stakes in the stock. Berkshire Hathaway Inc raised its holdings in Chevron by 14.4% in the fourth quarter. Berkshire Hathaway Inc now owns 126,093,326 shares of the oil and gas company’s stock valued at $18,808,081,000 after purchasing an additional 15,845,037 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in Chevron by 3.0% in the second quarter. Ameriprise Financial Inc. now owns 17,111,051 shares of the oil and gas company’s stock valued at $2,676,957,000 after buying an additional 501,969 shares during the last quarter. Capital World Investors raised its stake in Chevron by 3.2% in the first quarter. Capital World Investors now owns 16,009,766 shares of the oil and gas company’s stock valued at $2,525,380,000 after purchasing an additional 495,879 shares during the last quarter. Legal & General Group Plc boosted its stake in Chevron by 4.9% in the second quarter. Legal & General Group Plc now owns 13,570,971 shares of the oil and gas company’s stock valued at $2,122,772,000 after buying an additional 629,644 shares during the last quarter. Finally, Capital International Investors raised its stake in Chevron by 5.9% in the first quarter. Capital International Investors now owns 13,418,287 shares of the oil and gas company’s stock valued at $2,116,600,000 after buying an additional 743,042 shares in the last quarter. 72.42% of shares are owned by institutional investors and hedge funds.

Analyst upgrades and downgrades

Several research firms have weighed in on CVX. Sanford C. Bernstein cut shares of Chevron from an “outperform” rating to a “market perform” rating and cut their price target for the company from $183.00 to $167.00 in a research note on Wednesday, July 17. Truist Financial cut their price target on shares of Chevron from $154.00 to $150.00 and set a “hold” rating for the company in a research note on Monday. Mizuho cut their price target on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research note on Monday, September 16th. Barclays cut their price target on shares of Chevron from $185.00 to $168.00 and set an “overweight” rating for the company in a research note on Thursday. Finally, Wells Fargo & Company cut their price target on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research report on Friday, September 27th . Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, Chevron has an average rating of “Moderate Buy” and a consensus price target of $179.00.

Read the latest stock analysis on Chevron

Chevron price performance

Shares of CVX stock opened at $151.22 on Friday. The company has a current ratio of 1.16, a quick ratio of 0.85, and a debt-to-equity ratio of 0.13. Chevron Co. it has a one year low of $135.37 and a one year high of $170.17. The firm has a market cap of $278.69 billion, a PE ratio of 13.91, a P/E/G ratio of 2.64 and a beta of 1.09. The firm has a 50 day moving average of $146.13 and a two hundred day moving average of $154.17.

Chevron (NYSE:CVX – Get Your Free Report ) last released its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). The business had revenue of $51.18 billion during the quarter, compared to analyst estimates of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. Chevron’s revenue for the quarter was up 4.7% year over year. In the same quarter last year, the company earned $3.08 EPS. On average, analysts estimate that Chevron Co. will post 11.02 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were issued a $1.63 dividend. The ex-dividend date was Monday, August 19. This represents a dividend of $6.52 on an annualized basis and a dividend yield of 4.31%. Chevron’s dividend payout ratio is 59.98%.

About Chevron

(Free report)

Chevron Corporation, through its subsidiaries, engages in integrated energy and chemical 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, transport and regasification of liquefied natural gas; transportation of crude oil through pipelines; transportation, storage and trading of natural gas; and carbon capture and storage, as well as a gas-to-liquids facility.

Featured stories

Want to see what other hedge funds own CVX? Visit HoldingsChannel.com to get the latest 13F filings and insider trading for Chevron Co. (NYSE:CVX – Free Report).

Get news and reviews for Chevron Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Chevron and related companies with MarketBeat.com’s FREE daily email newsletter.