Teachers Retirement System of The State of Kentucky Boosts Stock Holdings in Chevron Corporation $CVX

Teachers Retirement System of The State of Kentucky grew its position in Chevron Corporation (NYSE:CVX) by 14.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 150,124 shares of the oil and gas company’s stock after acquiring an additional 19,245 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Chevron were worth $23,313,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Chevron by 17.9% in the third quarter. Vanguard Group Inc. now owns 183,790,028 shares of the oil and gas company’s stock valued at $28,540,753,000 after buying an additional 27,961,463 shares during the last quarter. Berkshire Hathaway Inc boosted its holdings in shares of Chevron by 2.9% during the 2nd quarter. Berkshire Hathaway Inc now owns 122,064,792 shares of the oil and gas company’s stock worth $17,478,458,000 after purchasing an additional 3,454,258 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Chevron by 4.0% in the second quarter. Charles Schwab Investment Management Inc. now owns 34,772,753 shares of the oil and gas company’s stock valued at $4,979,255,000 after purchasing an additional 1,342,723 shares in the last quarter. Fisher Asset Management LLC increased its holdings in shares of Chevron by 1.6% in the third quarter. Fisher Asset Management LLC now owns 21,152,060 shares of the oil and gas company’s stock valued at $3,284,704,000 after purchasing an additional 325,255 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Chevron by 27.9% in the third quarter. Bank of New York Mellon Corp now owns 19,627,146 shares of the oil and gas company’s stock valued at $3,047,900,000 after purchasing an additional 4,279,918 shares during the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Stock Performance

NYSE CVX opened at $188.56 on Wednesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.15 and a quick ratio of 0.86. The company has a market cap of $376.25 billion, a P/E ratio of 28.31, a P/E/G ratio of 12.55 and a beta of 0.67. The stock has a 50-day moving average of $171.08 and a two-hundred day moving average of $160.10. Chevron Corporation has a 1-year low of $132.04 and a 1-year high of $191.56.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, January 30th. The oil and gas company reported $1.52 earnings per share for the quarter, beating analysts’ consensus estimates of $1.44 by $0.08. The firm had revenue of $45.79 billion during the quarter, compared to analysts’ expectations of $48.18 billion. Chevron had a net margin of 6.51% and a return on equity of 7.89%. The business’s quarterly revenue was down 10.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.06 earnings per share. As a group, analysts anticipate that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 17th will be given a $1.78 dividend. The ex-dividend date of this dividend is Tuesday, February 17th. This represents a $7.12 dividend on an annualized basis and a yield of 3.8%. This is an increase from Chevron’s previous quarterly dividend of $1.71. Chevron’s dividend payout ratio is 106.91%.

Insider Buying and Selling

In other news, insider Andrew Benjamin Walz sold 1,463 shares of the business’s stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $183.83, for a total transaction of $268,943.29. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Vice Chairman Mark A. Nelson sold 45,800 shares of Chevron stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $174.17, for a total transaction of $7,976,986.00. Following the completion of the transaction, the insider owned 7,161 shares of the company’s stock, valued at $1,247,231.37. This represents a 86.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 628,373 shares of company stock worth $107,085,890 over the last ninety days. Company insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

CVX has been the subject of a number of recent research reports. Melius Research raised Chevron from a “hold” rating to a “buy” rating and set a $205.00 target price for the company in a research note on Tuesday, February 17th. Citigroup boosted their target price on shares of Chevron from $179.00 to $210.00 and gave the company a “buy” rating in a report on Monday. Wall Street Zen raised shares of Chevron from a “sell” rating to a “hold” rating in a research note on Saturday, January 31st. BMO Capital Markets reiterated an “outperform” rating and issued a $190.00 price objective on shares of Chevron in a report on Monday, February 2nd. Finally, Zacks Research raised Chevron from a “strong sell” rating to a “hold” rating in a research note on Tuesday, December 23rd. Thirteen equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $178.95.

Key Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Global oil/gas rally is boosting integrated energy stocks; higher commodity prices improve Chevron’s near-term margins and cash flow outlook. Read More.
• Positive Sentiment: Broker upgrades and higher price targets (Citigroup, Bank of America, Melius and others) signal renewed analyst conviction and support upside expectations. Read More.
• Positive Sentiment: Notable portfolio moves (including increased exposure in Berkshire’s final quarter) and positive coverage identifying CVX as a top oil pick are drawing investor interest. Read More.
• Neutral Sentiment: Analyst coverage is mixed overall: several buys and target lifts exist, but consensus includes many holds, which can limit sustained momentum. Read More.
• Negative Sentiment: Chevron declared force majeure and halted production at the Leviathan gas field amid regional hostilities — a direct operational disruption that can dent near-term volumes and revenue. Read More.
• Negative Sentiment: Substantial insider selling by R. Hewitt Pate (large blocks sold late Feb. and early Mar.; SEC filings) may amplify profit-taking and be viewed negatively by some investors. Read More.
• Negative Sentiment: Ongoing geopolitical risk (Iran threats, Strait of Hormuz disruptions) increases volatility and operational uncertainty even as higher oil tends to boost earnings for majors. Read More.

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.