Chevron Co. (CVX) Shares Sold by Teacher Retirement System of Texas
Teacher Retirement System of Texas trimmed its holdings in Chevron Co. (NYSE:CVX) by 36.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 738,747 shares of the oil and gas company’s stock after selling 417,147 shares during the quarter. Teacher Retirement System of Texas’ holdings in Chevron were worth $92,484,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Acrospire Investment Management LLC boosted its holdings in Chevron by 133.3% in the second quarter. Acrospire Investment Management LLC now owns 1,400 shares of the oil and gas company’s stock valued at $146,000 after purchasing an additional 800 shares in the last quarter. Accurate Investment Solutions Inc. boosted its holdings in Chevron by 59.1% in the third quarter. Accurate Investment Solutions Inc. now owns 1,352 shares of the oil and gas company’s stock valued at $159,000 after purchasing an additional 502 shares in the last quarter. Fusion Family Wealth LLC boosted its holdings in shares of Chevron by 192.6% in the fourth quarter. Fusion Family Wealth LLC now owns 1,273 shares of the oil and gas company’s stock valued at $159,000 after acquiring an additional 838 shares during the period. Ffcm LLC boosted its holdings in shares of Chevron by 121.1% in the second quarter. Ffcm LLC now owns 1,501 shares of the oil and gas company’s stock valued at $160,000 after acquiring an additional 822 shares during the period. Finally, Mountain Capital Investment Advisors Inc acquired a new stake in shares of Chevron in the second quarter valued at approximately $160,000. 64.98% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have recently weighed in on the company. Royal Bank of Canada raised Chevron from an “underperform” rating to a “sector perform” rating and set a $125.00 price objective for the company in a report on Friday, February 9th. Morgan Stanley increased their price objective on Chevron from $130.00 to $145.00 and gave the company an “overweight” rating in a report on Wednesday, January 24th. Vetr downgraded Chevron from a “buy” rating to a “hold” rating and set a $134.35 price objective for the company. in a report on Thursday, January 11th. Zacks Investment Research downgraded Chevron from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 17th. Finally, DZ Bank raised Chevron from a “hold” rating to a “buy” rating in a report on Wednesday, March 7th. One analyst has rated the stock with a sell rating, seven have given a hold rating and nineteen have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $131.02.
Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, April 27th. The oil and gas company reported $1.90 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.48 by $0.42. Chevron had a return on equity of 5.22% and a net margin of 6.49%. The business had revenue of $37.76 billion during the quarter, compared to analysts’ expectations of $40.34 billion. During the same quarter in the prior year, the business earned $1.23 earnings per share. The company’s quarterly revenue was up 13.0% compared to the same quarter last year. sell-side analysts anticipate that Chevron Co. will post 6.48 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 11th. Shareholders of record on Friday, May 18th will be given a $1.12 dividend. This represents a $4.48 annualized dividend and a yield of 3.54%. The ex-dividend date is Thursday, May 17th. Chevron’s payout ratio is 121.08%.
In other Chevron news, VP R. Hewitt Pate sold 25,500 shares of the stock in a transaction on Tuesday, April 17th. The stock was sold at an average price of $121.97, for a total value of $3,110,235.00. Following the completion of the transaction, the vice president now owns 25,500 shares in the company, valued at $3,110,235. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.38% of the company’s stock.
Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production of crude oil and natural gas; processing, liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.
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