Public Employees Retirement Association of Colorado Sells 11,292 Shares of Chevron Co. (NYSE:CVX)

Public Employees Retirement Association of Colorado cut its stake in Chevron Co. (NYSE:CVX) by 1.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,168,772 shares of the oil and gas company’s stock after selling 11,292 shares during the quarter. Chevron accounts for 0.8% of Public Employees Retirement Association of Colorado’s holdings, making the stock its 24th biggest position. Public Employees Retirement Association of Colorado owned 0.06% of Chevron worth $182,819,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of CVX. Gilbert & Cook Inc. boosted its position in Chevron by 3.7% during the 4th quarter. Gilbert & Cook Inc. now owns 10,312 shares of the oil and gas company’s stock worth $1,538,000 after acquiring an additional 369 shares during the last quarter. Aveo Capital Partners LLC boosted its position in Chevron by 1.0% during the 4th quarter. Aveo Capital Partners LLC now owns 8,617 shares of the oil and gas company’s stock worth $1,285,000 after acquiring an additional 82 shares during the last quarter. Gryphon Financial Partners LLC boosted its position in Chevron by 55.0% during the 4th quarter. Gryphon Financial Partners LLC now owns 11,404 shares of the oil and gas company’s stock worth $1,648,000 after acquiring an additional 4,047 shares during the last quarter. TrinityPoint Wealth LLC boosted its position in Chevron by 6.8% during the 4th quarter. TrinityPoint Wealth LLC now owns 10,646 shares of the oil and gas company’s stock worth $1,588,000 after acquiring an additional 680 shares during the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC boosted its position in Chevron by 18.9% during the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 2,181 shares of the oil and gas company’s stock worth $325,000 after acquiring an additional 347 shares during the last quarter. 72.42% of the stock is owned by institutional investors.

Chevron Trading Up 0.7 %

Shares of Chevron stock opened at $144.98 on Friday. The business has a fifty day simple moving average of $148.26 and a two-hundred day simple moving average of $154.47. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $171.70. The company has a market capitalization of $267.19 billion, a price-to-earnings ratio of 13.34, a P/E/G ratio of 2.48 and a beta of 1.09. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (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 for the quarter, compared to analyst estimates of $48.68 billion. During the same period in the prior year, the business earned $3.08 EPS. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. Research analysts forecast that Chevron Co. will post 11.48 EPS for the current year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 4.50%. The ex-dividend date was Monday, August 19th. Chevron’s payout ratio is 59.98%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Scotiabank reduced their price target on Chevron from $195.00 to $180.00 and set a “sector outperform” rating for the company in a research report on Friday, July 12th. Sanford C. Bernstein downgraded Chevron from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $183.00 to $167.00 in a research report on Wednesday, July 17th. Royal Bank of Canada cut their price objective on Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a report on Monday, August 5th. Mizuho cut their price objective on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a report on Monday. Finally, Wolfe Research initiated coverage on Chevron in a report on Thursday, July 18th. They issued a “peer perform” rating for the company. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, Chevron presently has an average rating of “Moderate Buy” and an average price target of $182.41.

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.