Commonwealth of Pennsylvania Public School Empls Retrmt SYS Cuts Stock Holdings in Chevron Co. (NYSE:CVX)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lowered its position in shares of Chevron Co. (NYSE:CVX) by 4.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 355,367 shares of the oil and gas company’s stock after selling 14,901 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Chevron were worth $51,471,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. IMG Wealth Management Inc. purchased a new position in shares of Chevron in the fourth quarter worth $25,000. Legacy Investment Solutions LLC bought a new stake in Chevron in the 3rd quarter worth about $29,000. Fairway Wealth LLC raised its position in Chevron by 75.9% in the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock worth $30,000 after buying an additional 88 shares during the last quarter. Darwin Wealth Management LLC bought a new position in Chevron during the 3rd quarter valued at about $30,000. Finally, RPg Family Wealth Advisory LLC purchased a new stake in shares of Chevron during the 3rd quarter valued at about $31,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on CVX shares. Truist Financial decreased their price objective on shares of Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a report on Tuesday, February 4th. Royal Bank of Canada reissued an “outperform” rating and set a $175.00 price target on shares of Chevron in a report on Monday, February 3rd. Citigroup raised Chevron from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $145.00 to $185.00 in a report on Tuesday, November 26th. Barclays decreased their price target on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. Finally, UBS Group decreased their price objective on Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $174.13.

Chevron Price Performance

CVX stock opened at $164.00 on Thursday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The company’s fifty day moving average price is $155.77 and its 200-day moving average price is $152.31. Chevron Co. has a one year low of $135.37 and a one year high of $167.11. The company has a market capitalization of $288.73 billion, a PE ratio of 16.87, a price-to-earnings-growth ratio of 1.46 and a beta of 1.08.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.36). Chevron had a net margin of 8.71% and a return on equity of 11.44%. During the same quarter in the prior year, the company earned $3.45 earnings per share. On average, equities analysts anticipate that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were paid a dividend of $1.71 per share. The ex-dividend date of this dividend was Friday, February 14th. This is a positive change from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a yield of 4.17%. Chevron’s dividend payout ratio is presently 70.37%.

Insiders Place Their Bets

In related news, VP Jeff B. Gustavson sold 9,325 shares of the firm’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $152.50, for a total value of $1,422,062.50. Following the completion of the transaction, the vice president now directly owns 1,057 shares of the company’s stock, valued at approximately $161,192.50. This trade represents a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.20% of the company’s stock.

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.