New Mexico Educational Retirement Board Purchases 19,500 Shares of Chevron Co. (NYSE:CVX)

New Mexico Educational Retirement Board raised its position in Chevron Co. (NYSE:CVX) by 21.1% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 112,116 shares of the oil and gas company’s stock after acquiring an additional 19,500 shares during the quarter. Chevron makes up 0.6% of New Mexico Educational Retirement Board’s portfolio, making the stock its 19th biggest holding. New Mexico Educational Retirement Board’s holdings in Chevron were worth $18,256,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. Founders Financial Securities LLC raised its stake in shares of Chevron by 34.5% in the first quarter. Founders Financial Securities LLC now owns 14,929 shares of the oil and gas company’s stock worth $2,355,000 after buying an additional 3,828 shares during the period. Atticus Wealth Management LLC raised its stake in shares of Chevron by 6.0% in the first quarter. Atticus Wealth Management LLC now owns 4,397 shares of the oil and gas company’s stock worth $694,000 after buying an additional 250 shares during the period. Brown Miller Wealth Management LLC raised its stake in shares of Chevron by 6.6% in the first quarter. Brown Miller Wealth Management LLC now owns 13,026 shares of the oil and gas company’s stock worth $2,054,000 after buying an additional 810 shares during the period. Town & Country Bank & Trust CO dba First Bankers Trust CO raised its stake in shares of Chevron by 1.3% in the first quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 35,761 shares of the oil and gas company’s stock worth $5,641,000 after buying an additional 449 shares during the period. Finally, Vicus Capital grew its position in shares of Chevron by 20.2% during the first quarter. Vicus Capital now owns 8,078 shares of the oil and gas company’s stock worth $1,274,000 after purchasing an additional 1,355 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Chevron Price Performance

Shares of Chevron stock opened at $156.42 on Monday. The stock has a market cap of $288.28 billion, a price-to-earnings ratio of 14.39, a price-to-earnings-growth ratio of 2.38 and a beta of 1.10. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.93 and a current ratio of 1.23. The stock has a 50 day moving average price of $159.22 and a 200-day moving average price of $154.78. Chevron Co. has a one year low of $139.62 and a one year high of $171.70.

Chevron (NYSE:CVX) last announced its earnings results on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, topping analysts’ consensus estimates of $2.84 by $0.09. The firm had revenue of $48.72 billion during the quarter, compared to analysts’ expectations of $48.42 billion. Chevron had a return on equity of 14.40% and a net margin of 10.21%. The company’s quarterly revenue was down 4.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.55 EPS. Equities analysts expect that Chevron Co. will post 13.15 EPS for the current year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 17th were paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.17%. The ex-dividend date of this dividend was Thursday, May 16th. Chevron’s dividend payout ratio is currently 59.98%.

Analysts Set New Price Targets

Several analysts recently issued reports on CVX shares. UBS Group increased their target price on Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a research report on Tuesday, April 9th. Truist Financial increased their target price on Chevron from $156.00 to $166.00 and gave the stock a “hold” rating in a research report on Friday, May 10th. Scotiabank upgraded Chevron from a “sector perform” rating to a “sector outperform” rating and increased their target price for the stock from $170.00 to $195.00 in a research report on Thursday, April 11th. Piper Sandler increased their target price on Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a research report on Thursday, April 18th. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of Chevron in a research report on Monday, April 1st. Five equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $186.95.

Insider Buying and Selling

In related news, VP Alana K. Knowles sold 2,800 shares of the firm’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $165.00, for a total transaction of $462,000.00. Following the completion of the sale, the vice president now directly owns 276 shares of the company’s stock, valued at approximately $45,540. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Chevron news, VP Jeff B. Gustavson sold 3,750 shares of Chevron stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $160.23, for a total transaction of $600,862.50. Following the completion of the sale, the vice president now directly owns 477 shares of the company’s stock, valued at approximately $76,429.71. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $165.00, for a total value of $462,000.00. Following the sale, the vice president now directly owns 276 shares of the company’s stock, valued at $45,540. The disclosure for this sale can be found here. In the last three months, insiders sold 19,546 shares of company stock valued at $3,176,223. Insiders own 0.20% of the company’s stock.

Chevron Company 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.