Commonwealth of Pennsylvania Public School Empls Retrmt SYS Sells 21,900 Shares of Chevron Corporation $CVX

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lowered its stake in shares of Chevron Corporation (NYSE:CVX) by 4.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 440,255 shares of the oil and gas company’s stock after selling 21,900 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Chevron were worth $67,099,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CVX. Strategic Wealth Advisors LLC acquired a new stake in shares of Chevron during the fourth quarter worth about $33,000. Daytona Street Capital LLC acquired a new stake in shares of Chevron during the fourth quarter worth about $44,000. Maseco LLP acquired a new stake in shares of Chevron during the fourth quarter worth about $49,000. Turning Point Benefit Group Inc. acquired a new stake in shares of Chevron during the third quarter worth about $49,000. Finally, High Point Wealth Management LLC acquired a new stake in shares of Chevron during the fourth quarter worth about $53,000. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Down 0.3%

Shares of Chevron stock opened at $182.44 on Friday. The business’s 50 day simple moving average is $192.27 and its 200 day simple moving average is $175.69. Chevron Corporation has a 52-week low of $135.21 and a 52-week high of $214.71. The firm has a market cap of $363.34 billion, a PE ratio of 31.62, a P/E/G ratio of 0.60 and a beta of 0.51. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.84 and a current ratio of 1.09.

Chevron (NYSE:CVX) last announced its earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.41. Chevron had a return on equity of 6.90% and a net margin of 5.79%.The business had revenue of $47.56 billion for the quarter, compared to analyst estimates of $51.86 billion. During the same quarter last year, the firm earned $2.18 EPS. Chevron’s revenue for the quarter was up 2.1% compared to the same quarter last year. On average, analysts predict that Chevron Corporation will post 15.74 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Tuesday, May 19th will be given a $1.78 dividend. This represents a $7.12 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend is Tuesday, May 19th. Chevron’s dividend payout ratio (DPR) is currently 123.40%.

Key Headlines Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron CEO Mike Wirth warned that attacks on ships in the Strait of Hormuz highlight “very real” supply risks, reinforcing the case for tighter oil markets and potentially higher prices for Chevron’s production. Ships Attacked in Strait of Hormuz This Week, Chevron Says
• Positive Sentiment: Chevron and Exxon executives also warned that falling inventories could push oil higher, which would likely support Chevron’s cash flow and earnings if crude prices continue rising. Exxon, Chevron heads warn of higher oil prices amid falling inventories
• Positive Sentiment: Chevron filed to take a 70% stake in a Greek offshore gas block, signaling continued international expansion and a larger long-term resource base. Chevron files request to acquire offshore Greek block, energy ministry says
• Positive Sentiment: Chevron said it will not pay a toll to move ships through Hormuz, showing it is holding firm on operational and geopolitical terms while the region remains volatile. Chevron won’t pay toll to move ships through Hormuz, CEO tells Bloomberg TV
• Neutral Sentiment: Chevron announced Scott A. Keller will become general counsel, while current chief legal officer R. Hewitt Pate’s retirement is expected later, a routine leadership transition with limited near-term operating impact. Chevron Names New General Counsel
• Neutral Sentiment: Market commentary and investor-interest pieces suggest Chevron remains on traders’ radar, but these items do not add major new fundamentals by themselves. Chevron Corporation (CVX) is Attracting Investor Attention: Here is What You Should Know
• Negative Sentiment: Oil prices softened on hopes for a U.S.-Iran truce extension, which could ease supply fears and weigh on Chevron shares if crude remains under pressure. Oil Prices Soften as Traders Bet on Renewal of US-Iran Truce
• Negative Sentiment: Draft ceasefire and shipping-normalization talks around the Strait of Hormuz could reduce the geopolitical risk premium embedded in oil prices, which may cap near-term upside for CVX. U.S. and Iran Reach Draft 60-Day Ceasefire and Nuclear Talks Framework Pending Trump Approval

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Barclays raised their price target on Chevron from $192.00 to $213.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Mizuho raised their price target on Chevron from $225.00 to $230.00 and gave the stock an “outperform” rating in a research report on Wednesday. The Goldman Sachs Group reaffirmed a “buy” rating and set a $216.00 price target on shares of Chevron in a research report on Wednesday, May 6th. Argus set a $203.00 price target on Chevron in a research report on Tuesday, February 3rd. Finally, Zacks Research raised Chevron from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 3rd. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $205.70.

Insiders Place Their Bets

In related news, insider Andrew Benjamin Walz sold 11,600 shares of Chevron stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $188.58, for a total value of $2,187,528.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Vice Chairman Mark A. Nelson sold 139,600 shares of Chevron stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $187.92, for a total value of $26,233,632.00. Following the completion of the sale, the insider directly owned 11,337 shares in the company, valued at approximately $2,130,449.04. This represents a 92.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 1,144,224 shares of company stock worth $218,075,038 in the last 90 days. Company insiders own 0.56% of the company’s stock.

Chevron Company Profile

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.