Maryland State Retirement & Pension System Has $11.35 Million Stock Holdings in Chevron Corporation $CVX

Maryland State Retirement & Pension System boosted its stake in Chevron Corporation (NYSE:CVX) by 3.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 79,279 shares of the oil and gas company’s stock after purchasing an additional 2,614 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Chevron were worth $11,352,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of CVX. Harvest Fund Management Co. Ltd lifted its stake in shares of Chevron by 420.7% in the first quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company’s stock valued at $25,000 after buying an additional 122 shares in the last quarter. Elequin Capital LP bought a new position in shares of Chevron in the first quarter valued at $31,000. Cloud Capital Management LLC bought a new position in shares of Chevron in the first quarter valued at $39,000. Investment Management Corp VA ADV lifted its stake in shares of Chevron by 171.3% in the first quarter. Investment Management Corp VA ADV now owns 236 shares of the oil and gas company’s stock valued at $39,000 after buying an additional 149 shares in the last quarter. Finally, Cooksen Wealth LLC bought a new position in shares of Chevron in the first quarter valued at $43,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CVX has been the topic of a number of recent research reports. Mizuho dropped their price objective on shares of Chevron from $192.00 to $191.00 and set an “outperform” rating on the stock in a research note on Monday, September 15th. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $178.00 price objective on shares of Chevron in a research note on Friday, August 1st. Raymond James Financial reissued an “outperform” rating on shares of Chevron in a research report on Friday, August 1st. Melius Research started coverage on shares of Chevron in a research report on Wednesday, August 20th. They set a “hold” rating and a $155.00 price target on the stock. Finally, Evercore ISI reissued an “outperform” rating and set a $180.00 price target on shares of Chevron in a research report on Thursday, July 31st. Eleven analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $165.15.

Chevron Stock Performance

NYSE CVX opened at $153.76 on Thursday. Chevron Corporation has a 52-week low of $132.04 and a 52-week high of $168.96. The company has a 50-day simple moving average of $156.15 and a 200 day simple moving average of $148.88. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00. The company has a market capitalization of $265.70 billion, a PE ratio of 19.79, a price-to-earnings-growth ratio of 1.99 and a beta of 0.84.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.19. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The business had revenue of $44.82 billion during the quarter, compared to the consensus estimate of $44.59 billion. During the same quarter last year, the company posted $2.55 earnings per share. The firm’s quarterly revenue was down 12.4% compared to the same quarter last year. On average, research analysts predict that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were paid a $1.71 dividend. The ex-dividend date was Tuesday, August 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.4%. Chevron’s dividend payout ratio (DPR) is presently 88.03%.

Insider Activity

In other news, Director John B. Hess sold 375,000 shares of Chevron stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $158.30, for a total value of $59,362,500.00. Following the completion of the transaction, the director owned 1,403,045 shares in the company, valued at $222,102,023.50. This trade represents a 21.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Alana K. Knowles sold 3,978 shares of Chevron stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $160.00, for a total transaction of $636,480.00. Following the completion of the transaction, the vice president owned 1,181 shares of the company’s stock, valued at $188,960. The trade was a 77.11% decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is owned by company insiders.

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.