Chevron Corporation $CVX Shares Bought by California Public Employees Retirement System

California Public Employees Retirement System lifted its position in shares of Chevron Corporation (NYSE:CVX) by 2.3% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,855,790 shares of the oil and gas company’s stock after buying an additional 64,328 shares during the period. California Public Employees Retirement System owned approximately 0.17% of Chevron worth $408,921,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Elequin Capital LP acquired a new stake in Chevron during the first quarter worth about $31,000. Quaker Wealth Management LLC grew its holdings in shares of Chevron by 197.7% during the 2nd quarter. Quaker Wealth Management LLC now owns 217 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 439 shares during the period. Vermillion & White Wealth Management Group LLC grew its holdings in shares of Chevron by 86.1% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 255 shares of the oil and gas company’s stock worth $37,000 after purchasing an additional 118 shares during the period. IMG Wealth Management Inc. increased its position in Chevron by 52.3% during the 2nd quarter. IMG Wealth Management Inc. now owns 265 shares of the oil and gas company’s stock worth $38,000 after purchasing an additional 91 shares in the last quarter. Finally, 1 North Wealth Services LLC purchased a new position in Chevron in the first quarter valued at approximately $45,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. UBS Group reiterated a “buy” rating on shares of Chevron in a research note on Monday, December 1st. Piper Sandler reduced their target price on shares of Chevron from $171.00 to $169.00 and set an “overweight” rating on the stock in a report on Monday, November 10th. Raymond James Financial reaffirmed an “outperform” rating and set a $160.00 price target (down from $170.00) on shares of Chevron in a research report on Friday, October 17th. Melius Research began coverage on Chevron in a report on Wednesday, August 20th. They issued a “hold” rating and a $155.00 price target for the company. Finally, Hsbc Global Res upgraded Chevron from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 1st. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, seven have issued a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, Chevron currently has an average rating of “Hold” and an average target price of $166.16.

Chevron Price Performance

CVX opened at $149.98 on Friday. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96. The firm has a market cap of $301.99 billion, a price-to-earnings ratio of 21.09, a PEG ratio of 8.87 and a beta of 0.68. The company has a current ratio of 1.15, a quick ratio of 0.86 and a debt-to-equity ratio of 0.19. The company has a fifty day simple moving average of $153.23 and a 200 day simple moving average of $151.61.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, October 31st. The oil and gas company reported $1.85 earnings per share for the quarter, beating analysts’ consensus estimates of $1.71 by $0.14. The company had revenue of $48.17 billion during the quarter, compared to analysts’ expectations of $46.99 billion. Chevron had a net margin of 6.57% and a return on equity of 8.74%. The firm’s revenue for the quarter was down 1.9% on a year-over-year basis. During the same period in the prior year, the company posted $2.48 EPS. Equities research analysts expect that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Tuesday, November 18th will be issued a dividend of $1.71 per share. The ex-dividend date is Tuesday, November 18th. This represents a $6.84 annualized dividend and a yield of 4.6%. Chevron’s payout ratio is currently 96.20%.

Insider Transactions at Chevron

In other Chevron news, Director John B. Hess sold 275,000 shares of the company’s stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $150.75, for a total value of $41,456,250.00. Following the transaction, the director directly owned 1,128,045 shares of the company’s stock, valued at $170,052,783.75. This represents a 19.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.21% of the stock is owned by corporate insiders.

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.