State of New Jersey Common Pension Fund D Sells 3,439 Shares of Chevron Co. (NYSE:CVX)

State of New Jersey Common Pension Fund D decreased its position in shares of Chevron Co. (NYSE:CVX) by 0.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 643,725 shares of the oil and gas company’s stock after selling 3,439 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Chevron were worth $93,237,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Stratos Wealth Partners LTD. grew its position in shares of Chevron by 0.4% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 70,768 shares of the oil and gas company’s stock worth $10,422,000 after buying an additional 261 shares during the period. Seamount Financial Group Inc. grew its position in shares of Chevron by 1.8% during the 3rd quarter. Seamount Financial Group Inc. now owns 6,425 shares of the oil and gas company’s stock worth $946,000 after buying an additional 115 shares during the period. Embree Financial Group grew its position in shares of Chevron by 6.5% during the 3rd quarter. Embree Financial Group now owns 10,503 shares of the oil and gas company’s stock worth $1,547,000 after buying an additional 644 shares during the period. Chicago Capital LLC grew its position in shares of Chevron by 3.0% during the 3rd quarter. Chicago Capital LLC now owns 9,733 shares of the oil and gas company’s stock worth $1,433,000 after buying an additional 279 shares during the period. Finally, Alta Wealth Advisors LLC grew its position in shares of Chevron by 22.9% during the 3rd quarter. Alta Wealth Advisors LLC now owns 3,344 shares of the oil and gas company’s stock worth $492,000 after buying an additional 624 shares during the period. Institutional investors own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $145.00 to $185.00 in a research report on Tuesday, November 26th. Raymond James reduced their price target on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research report on Monday, February 3rd. Barclays reduced their price target on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a research report on Wednesday, February 5th. UBS Group reduced their price target on shares of Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a research report on Monday, February 3rd. Finally, Truist Financial reduced their price target on shares of Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research report on Tuesday, February 4th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $174.13.

Insider Buying and Selling

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the company’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the sale, the vice president now directly owns 1,057 shares of the company’s stock, valued at $161,192.50. This represents a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.20% of the stock is owned by insiders.

Chevron Stock Performance

NYSE CVX opened at $155.32 on Monday. The company has a fifty day moving average price of $151.86 and a 200-day moving average price of $150.80. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The firm has a market cap of $279.12 billion, a price-to-earnings ratio of 15.98, a PEG ratio of 1.39 and a beta of 1.11. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.36). Chevron had a return on equity of 11.44% and a net margin of 8.71%. During the same quarter in the previous year, the company earned $3.45 earnings per share. As a group, equities research analysts predict that Chevron Co. will post 10.84 EPS for the current fiscal year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be issued a $1.71 dividend. This is an increase from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.40%. The ex-dividend date of this dividend is Friday, February 14th. Chevron’s payout ratio is 67.08%.

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.