Chevron Co. (NYSE:CVX) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems lowered its position in shares of Chevron Co. (NYSE:CVX) by 1.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 129,158 shares of the oil and gas company’s stock after selling 2,561 shares during the period. Chevron comprises about 0.6% of Kentucky Retirement Systems’ holdings, making the stock its 26th largest position. Kentucky Retirement Systems’ holdings in Chevron were worth $20,203,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in CVX. Eagle Capital Management LLC increased its stake in Chevron by 0.5% in the first quarter. Eagle Capital Management LLC now owns 34,455 shares of the oil and gas company’s stock valued at $5,435,000 after purchasing an additional 163 shares during the period. Lane & Associates LLC purchased a new stake in Chevron during the 1st quarter valued at approximately $345,000. KCM Investment Advisors LLC lifted its position in Chevron by 2.5% during the 1st quarter. KCM Investment Advisors LLC now owns 331,550 shares of the oil and gas company’s stock worth $52,299,000 after acquiring an additional 8,168 shares during the period. Livelsberger Financial Advisory purchased a new position in shares of Chevron in the 4th quarter valued at approximately $46,000. Finally, Hosking Partners LLP acquired a new position in shares of Chevron in the first quarter valued at approximately $4,924,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Price Performance

Chevron stock opened at $143.96 on Thursday. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13. The firm’s 50-day simple moving average is $148.47 and its 200 day simple moving average is $154.54. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $171.70. The firm has a market capitalization of $263.29 billion, a PE ratio of 13.24, a P/E/G ratio of 2.41 and a beta of 1.09.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing the consensus estimate of $2.93 by ($0.38). Chevron had a net margin of 9.31% and a return on equity of 13.70%. The business had revenue of $51.18 billion during the quarter, compared to analyst estimates of $48.68 billion. During the same quarter in the prior year, the company earned $3.08 earnings per share. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. On average, equities research analysts predict that Chevron Co. will post 11.57 EPS for the current fiscal year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were issued a $1.63 dividend. The ex-dividend date was Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.53%. Chevron’s dividend payout ratio (DPR) is 59.98%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CVX. Mizuho decreased their price target on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a report on Monday. Royal Bank of Canada reduced their target price on shares of Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a research note on Monday, August 5th. UBS Group dropped their price target on shares of Chevron from $192.00 to $189.00 and set a “buy” rating on the stock in a research note on Wednesday. Truist Financial reduced their price objective on shares of Chevron from $156.00 to $154.00 and set a “hold” rating for the company in a research report on Monday, August 5th. Finally, Scotiabank dropped their target price on Chevron from $195.00 to $180.00 and set a “sector outperform” rating on the stock in a research report on Friday, July 12th. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $182.41.

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.