Commonwealth of Pennsylvania Public School Empls Retrmt SYS Sells 3,600 Shares of Chevron Corporation $CVX

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lessened its stake in shares of Chevron Corporation (NYSE:CVX) by 0.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 436,655 shares of the oil and gas company’s stock after selling 3,600 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Chevron were worth $90,344,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in CVX. Ferguson Wellman Capital Management Inc. raised its position in shares of Chevron by 0.3% in the 1st quarter. Ferguson Wellman Capital Management Inc. now owns 901,505 shares of the oil and gas company’s stock worth $186,521,000 after acquiring an additional 3,123 shares in the last quarter. Fifth Third Bancorp boosted its position in Chevron by 104.1% during the first quarter. Fifth Third Bancorp now owns 1,608,439 shares of the oil and gas company’s stock valued at $332,786,000 after purchasing an additional 820,294 shares in the last quarter. Glass Wealth Management Co LLC grew its stake in Chevron by 4.2% in the first quarter. Glass Wealth Management Co LLC now owns 29,318 shares of the oil and gas company’s stock valued at $6,066,000 after purchasing an additional 1,183 shares during the last quarter. Sovran Advisors LLC grew its stake in Chevron by 19.9% in the first quarter. Sovran Advisors LLC now owns 8,736 shares of the oil and gas company’s stock valued at $1,689,000 after purchasing an additional 1,448 shares during the last quarter. Finally, American Trust bought a new position in Chevron in the first quarter worth about $258,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Chevron

In other Chevron news, Director John B. Hess sold 380,000 shares of the firm’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $193.20, for a total value of $73,416,000.00. Following the completion of the transaction, the director owned 278,045 shares of the company’s stock, valued at approximately $53,718,294. This trade represents a 57.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.56% of the company’s stock.

Chevron News Summary

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Rising Middle East tensions are pushing crude higher, which can improve Chevron’s upstream profits and make the stock look more attractive as a geopolitical hedge. With Iran Tensions Heating Up Again, Chevron Stock Looks Enticing
• Positive Sentiment: Bullish commentary from Bank of America and other analysts suggests Chevron is well positioned to benefit if Iran-related supply disruptions keep oil prices elevated. CVX Stock Has A New Bull Case
• Positive Sentiment: Chevron announced a five-year gas supply deal with Australia’s Alinta Energy, adding a stable long-term sales stream and reinforcing its gas business. Chevron Australia signs five-year gas supply agreement with Alinta Energy
• Positive Sentiment: Chevron also expanded its technology/licensing efforts and its Microsoft power partnership, which could support long-term growth beyond oil and gas pricing. Can Chevron’s Microsoft Partnership Power the Next Leg of Growth?
• Neutral Sentiment: UBS reiterated a Buy rating, which may help sentiment but does not by itself change Chevron’s fundamentals. UBS Keeps Their Buy Rating on Chevron (CVX)
• Negative Sentiment: New U.S. Russia sanctions proposals could tighten global energy trade flows and add policy uncertainty, even if they may also support oil prices. Bipartisan Senators Reach Agreement With Trump Administration to Advance New Russia Sanctions Bill

Chevron Stock Up 1.3%

NYSE CVX traded up $2.24 during trading on Friday, hitting $176.29. The company’s stock had a trading volume of 5,984,338 shares, compared to its average volume of 9,284,713. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.84. The company has a market cap of $351.10 billion, a PE ratio of 30.55, a P/E/G ratio of 0.60 and a beta of 0.50. The business’s 50 day simple moving average is $181.92 and its 200-day simple moving average is $181.29. Chevron Corporation has a fifty-two week low of $146.49 and a fifty-two week high of $214.71.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.41. The firm had revenue of $47.56 billion for the quarter, compared to the consensus estimate of $51.86 billion. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.18 earnings per share. On average, equities analysts anticipate that Chevron Corporation will post 15.28 EPS for the current fiscal year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 19th were paid a dividend of $1.78 per share. The ex-dividend date was Tuesday, May 19th. This represents a $7.12 dividend on an annualized basis and a yield of 4.0%. Chevron’s dividend payout ratio is presently 123.40%.

Wall Street Analysts Forecast Growth

Several research firms have commented on CVX. Royal Bank Of Canada reissued an “outperform” rating and set a $220.00 price target on shares of Chevron in a research report on Tuesday, May 5th. Wolfe Research raised shares of Chevron from a “peer perform” rating to an “outperform” rating and set a $210.00 price objective on the stock in a research report on Thursday, July 2nd. HSBC upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $215.00 price objective for the company in a research note on Friday, March 20th. Tudor Pickering upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $225.00 target price for the company in a research note on Thursday, April 9th. Finally, Barclays raised their target price on shares of Chevron from $192.00 to $213.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 26th. Nineteen investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $206.83.

About Chevron

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.