Oregon Public Employees Retirement Fund Reduces Position in Chevron Co. (NYSE:CVX)

Oregon Public Employees Retirement Fund reduced its stake in Chevron Co. (NYSE:CVX) by 1.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 143,239 shares of the oil and gas company’s stock after selling 2,345 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Chevron were worth $20,747,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Pettinga Financial Advisors LLC increased its holdings in shares of Chevron by 10.1% during the 3rd quarter. Pettinga Financial Advisors LLC now owns 2,972 shares of the oil and gas company’s stock worth $438,000 after buying an additional 272 shares during the last quarter. Gemmer Asset Management LLC increased its stake in Chevron by 11.7% during the third quarter. Gemmer Asset Management LLC now owns 4,888 shares of the oil and gas company’s stock worth $720,000 after acquiring an additional 512 shares during the last quarter. Semanteon Capital Management LP purchased a new position in shares of Chevron in the 3rd quarter worth about $1,208,000. Inscription Capital LLC lifted its stake in shares of Chevron by 3.5% in the 3rd quarter. Inscription Capital LLC now owns 77,577 shares of the oil and gas company’s stock valued at $11,425,000 after purchasing an additional 2,635 shares in the last quarter. Finally, Welch Group LLC grew its holdings in shares of Chevron by 2.8% during the 3rd quarter. Welch Group LLC now owns 386,666 shares of the oil and gas company’s stock worth $56,944,000 after purchasing an additional 10,660 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analysts Set New Price Targets

CVX has been the subject of a number of recent analyst reports. Raymond James lowered their price target on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a report on Monday, February 3rd. Piper Sandler dropped their target price on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target for the company in a report on Tuesday, November 5th. UBS Group dropped their price objective on Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a report on Monday, February 3rd. Finally, Barclays cut their target price on Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, Chevron has an average rating of “Moderate Buy” and an average price target of $174.13.

Insider Buying and Selling at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the business’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the completion of the transaction, the vice president now owns 1,057 shares in the company, valued at approximately $161,192.50. The trade was a 89.82 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.20% of the stock is currently owned by company insiders.

Chevron Stock Down 1.0 %

NYSE:CVX opened at $156.38 on Wednesday. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The stock has a 50 day moving average of $152.30 and a 200-day moving average of $151.28. The firm has a market capitalization of $281.04 billion, a PE ratio of 16.09, a price-to-earnings-growth ratio of 1.46 and a beta of 1.11. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.11.

Chevron (NYSE:CVX) last issued its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a return on equity of 11.44% and a net margin of 8.71%. During the same period last year, the business earned $3.45 earnings per share. Analysts predict that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be given a $1.71 dividend. The ex-dividend date of this dividend is Friday, February 14th. This is an increase from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 4.37%. Chevron’s dividend payout ratio (DPR) is currently 70.37%.

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.