Utah Retirement Systems Boosts Stake in Chevron Co. (NYSE:CVX)

Utah Retirement Systems lifted its holdings in Chevron Co. (NYSE:CVX) by 0.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 285,827 shares of the oil and gas company’s stock after buying an additional 700 shares during the period. Chevron makes up 0.5% of Utah Retirement Systems’ holdings, making the stock its 29th biggest position. Utah Retirement Systems’ holdings in Chevron were worth $41,399,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Life Planning Partners Inc purchased a new position in Chevron during the fourth quarter worth about $25,000. IMG Wealth Management Inc. purchased a new position in Chevron during the fourth quarter worth about $25,000. Mizuho Securities Co. Ltd. purchased a new position in Chevron during the fourth quarter worth about $29,000. Fairway Wealth LLC raised its stake in Chevron by 75.9% during the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock worth $30,000 after purchasing an additional 88 shares during the period. Finally, New Wave Wealth Advisors LLC purchased a new stake in shares of Chevron in the 4th quarter valued at approximately $39,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Trading Down 0.6 %

NYSE CVX opened at $139.30 on Wednesday. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. Chevron Co. has a 52 week low of $132.04 and a 52 week high of $168.96. The stock has a market capitalization of $245.25 billion, a PE ratio of 14.33, a price-to-earnings-growth ratio of 1.46 and a beta of 0.93. The firm has a 50 day moving average of $150.96 and a two-hundred day moving average of $152.82.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing the consensus estimate 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 last year, the firm posted $3.45 EPS. As a group, research analysts expect that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 4.91%. The ex-dividend date was Friday, February 14th. This is an increase from Chevron’s previous quarterly dividend of $1.63. Chevron’s payout ratio is currently 70.37%.

Insider Transactions at Chevron

In related news, VP Jeff B. Gustavson sold 9,325 shares of the firm’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the transaction, the vice president now owns 1,057 shares of the company’s stock, valued at $161,192.50. This trade represents a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Redburn Atlantic reissued a “sell” rating and issued a $124.00 price target (down from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. BNP Paribas downgraded shares of Chevron to a “cautious” rating in a research note on Tuesday, April 15th. Truist Financial reduced their price target on shares of Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a research note on Tuesday, February 4th. Scotiabank downgraded shares of Chevron from a “sector outperform” rating to a “sector perform” rating and reduced their price target for the company from $160.00 to $143.00 in a research note on Friday, April 11th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $175.00 price target on shares of Chevron in a research note on Monday, February 3rd. Two analysts have rated the stock with a sell rating, five have issued a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $166.06.

Chevron 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.