Chevron Co. (NYSE:CVX) Stake Lessened by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado cut its stake in Chevron Co. (NYSE:CVX) by 1.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,364,484 shares of the oil and gas company’s stock after selling 13,900 shares during the period. Public Employees Retirement Association of Colorado owned approximately 0.07% of Chevron worth $142,916,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of CVX. Vanguard Group Inc. boosted its holdings in shares of Chevron by 3.5% in the second quarter. Vanguard Group Inc. now owns 161,501,973 shares of the oil and gas company’s stock valued at $16,915,716,000 after acquiring an additional 5,427,422 shares in the last quarter. BlackRock Inc. lifted its stake in Chevron by 3.3% during the second quarter. BlackRock Inc. now owns 136,355,706 shares of the oil and gas company’s stock valued at $14,281,898,000 after purchasing an additional 4,339,477 shares during the last quarter. Liberty Wealth Management LLC lifted its stake in Chevron by 10,559.1% during the second quarter. Liberty Wealth Management LLC now owns 3,513,656 shares of the oil and gas company’s stock valued at $33,546,000 after purchasing an additional 3,480,692 shares during the last quarter. Morgan Stanley lifted its stake in Chevron by 13.9% during the first quarter. Morgan Stanley now owns 21,789,121 shares of the oil and gas company’s stock valued at $2,283,280,000 after purchasing an additional 2,666,433 shares during the last quarter. Finally, Mn Services Vermogensbeheer B.V. acquired a new stake in Chevron during the second quarter valued at approximately $125,336,000. Institutional investors and hedge funds own 65.78% of the company’s stock.

Several equities research analysts recently commented on the stock. JPMorgan Chase & Co. downgraded shares of Chevron from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $128.00 to $111.00 in a research report on Wednesday, September 15th. Royal Bank of Canada reduced their price target on shares of Chevron from $135.00 to $130.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 25th. HSBC downgraded shares of Chevron from a “buy” rating to a “hold” rating and reduced their price target for the company from $127.00 to $112.00 in a research report on Thursday, July 22nd. Truist upped their price target on shares of Chevron from $145.00 to $150.00 and gave the company a “buy” rating in a research report on Thursday, October 7th. Finally, Wells Fargo & Company reduced their price target on shares of Chevron from $110.00 to $107.00 and set an “equal weight” rating for the company in a research report on Wednesday, September 15th. Eleven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $119.00.

Chevron stock traded up $0.90 during mid-day trading on Thursday, reaching $108.69. The company had a trading volume of 340,411 shares, compared to its average volume of 10,551,904. The company has a quick ratio of 0.95, a current ratio of 1.17 and a debt-to-equity ratio of 0.30. Chevron Co. has a 52 week low of $65.16 and a 52 week high of $113.11. The company has a 50 day moving average of $99.98 and a 200-day moving average of $102.94. The firm has a market cap of $210.20 billion, a price-to-earnings ratio of 58.27, a PEG ratio of 2.85 and a beta of 1.32.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Thursday, July 29th. The oil and gas company reported $1.71 earnings per share for the quarter, beating analysts’ consensus estimates of $1.59 by $0.12. Chevron had a net margin of 3.01% and a return on equity of 3.89%. The firm had revenue of $37.60 billion during the quarter, compared to the consensus estimate of $35.98 billion. During the same period in the prior year, the firm earned ($1.59) EPS. The business’s revenue was up 169.5% on a year-over-year basis. On average, analysts predict that Chevron Co. will post 6.74 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 10th. Stockholders of record on Thursday, August 19th were issued a dividend of $1.34 per share. This represents a $5.36 dividend on an annualized basis and a dividend yield of 4.93%. The ex-dividend date was Wednesday, August 18th. Chevron’s payout ratio is -2,680.00%.

Chevron Company Profile

Chevron Corp. engages in the provision of administrative, financial management, and technology support for energy and chemical operations. It operates through the Upstream and Downstream segments. The Upstream segment consists of exploration, development, and production of crude oil and natural gas; liquefaction, transportation, and regasification associated with liquefied natural gas; transporting crude oil by major international oil export pipelines; processing, transporting, storage, and marketing of natural gas; and a gas-to-liquids plant.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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