California Public Employees Retirement System Has $599.13 Million Holdings in Chevron Co. (NYSE:CVX)

California Public Employees Retirement System decreased its stake in shares of Chevron Co. (NYSE:CVX) by 3.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 4,016,678 shares of the oil and gas company’s stock after selling 163,264 shares during the period. California Public Employees Retirement System’s holdings in Chevron were worth $599,128,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the stock. International Assets Investment Management LLC raised its holdings in Chevron by 15,548.2% in the 4th quarter. International Assets Investment Management LLC now owns 3,202,411 shares of the oil and gas company’s stock worth $4,776,720,000 after acquiring an additional 3,181,946 shares during the period. Morgan Stanley boosted its stake in Chevron by 7.0% during the 3rd quarter. Morgan Stanley now owns 34,166,899 shares of the oil and gas company’s stock valued at $5,761,223,000 after purchasing an additional 2,244,995 shares during the period. J.P. Morgan Private Wealth Advisors LLC acquired a new stake in Chevron in the 3rd quarter valued at approximately $348,789,000. Envestnet Asset Management Inc. boosted its position in shares of Chevron by 36.4% in the third quarter. Envestnet Asset Management Inc. now owns 4,614,498 shares of the oil and gas company’s stock valued at $778,097,000 after acquiring an additional 1,230,619 shares during the period. Finally, Adage Capital Partners GP L.L.C. raised its stake in Chevron by 148.8% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,108,757 shares of the oil and gas company’s stock valued at $186,959,000 after purchasing an additional 663,200 shares during the last quarter. 72.42% of the stock is owned by institutional investors.

Analyst Ratings Changes

CVX has been the subject of several research reports. The Goldman Sachs Group reiterated a “buy” rating on shares of Chevron in a research note on Monday, April 1st. Barclays initiated coverage on shares of Chevron in a research report on Wednesday, April 10th. They set an “overweight” rating and a $203.00 target price on the stock. Truist Financial cut their target price on Chevron from $168.00 to $156.00 and set a “hold” rating for the company in a research report on Friday, April 5th. TD Cowen cut Chevron from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $170.00 to $150.00 in a report on Tuesday, January 23rd. Finally, Jefferies Financial Group raised shares of Chevron from a “hold” rating to a “buy” rating and set a $184.00 target price on the stock in a report on Monday, January 8th. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $184.75.

Insider Buying and Selling at Chevron

In related news, VP Alana K. Knowles sold 2,800 shares of the company’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total transaction of $448,252.00. Following the completion of the sale, the vice president now directly owns 276 shares in the company, valued at approximately $44,184.84. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.18% of the company’s stock.

Chevron Stock Up 1.3 %

NYSE CVX traded up $2.01 on Monday, reaching $162.01. The company had a trading volume of 6,778,337 shares, compared to its average volume of 8,496,569. The company’s fifty day moving average is $155.44 and its 200-day moving average is $151.67. Chevron Co. has a 1-year low of $139.62 and a 1-year high of $172.38. The firm has a market capitalization of $300.90 billion, a price-to-earnings ratio of 14.30, a price-to-earnings-growth ratio of 2.36 and a beta of 1.12. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.27.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $3.45 EPS for the quarter, beating analysts’ consensus estimates of $3.19 by $0.26. The firm had revenue of $47.18 billion during the quarter, compared to analysts’ expectations of $50.93 billion. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The company’s revenue for the quarter was down 16.5% compared to the same quarter last year. During the same quarter last year, the company posted $4.09 earnings per share. On average, research analysts forecast that Chevron Co. will post 13.58 earnings per share for the current fiscal year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Friday, February 16th were issued a dividend of $1.63 per share. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $6.52 dividend on an annualized basis and a yield of 4.02%. This is a boost from Chevron’s previous quarterly dividend of $1.51. Chevron’s dividend payout ratio (DPR) is presently 57.39%.

Chevron Profile

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.