Chevron Corporation $CVX Shares Purchased by National Pension Service

National Pension Service raised its position in Chevron Corporation (NYSE:CVX) by 4.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,461,940 shares of the oil and gas company’s stock after purchasing an additional 133,868 shares during the quarter. National Pension Service owned about 0.20% of Chevron worth $495,715,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Rice Hall James & Associates LLC increased its holdings in shares of Chevron by 2.7% during the first quarter. Rice Hall James & Associates LLC now owns 3,467 shares of the oil and gas company’s stock valued at $580,000 after purchasing an additional 90 shares during the period. Edgestream Partners L.P. grew its position in Chevron by 58.9% in the 1st quarter. Edgestream Partners L.P. now owns 19,412 shares of the oil and gas company’s stock valued at $3,247,000 after buying an additional 7,198 shares in the last quarter. Grey Fox Wealth Advisors LLC grew its position in Chevron by 6.9% in the 1st quarter. Grey Fox Wealth Advisors LLC now owns 2,424 shares of the oil and gas company’s stock valued at $406,000 after buying an additional 157 shares in the last quarter. Hager Investment Management Services LLC increased its stake in Chevron by 3.9% during the 1st quarter. Hager Investment Management Services LLC now owns 3,249 shares of the oil and gas company’s stock valued at $544,000 after buying an additional 121 shares during the period. Finally, Cornercap Investment Counsel Inc. raised its position in shares of Chevron by 62.2% during the 1st quarter. Cornercap Investment Counsel Inc. now owns 13,750 shares of the oil and gas company’s stock worth $2,300,000 after buying an additional 5,275 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Chevron

In related news, Director John B. Hess sold 375,000 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $158.30, for a total transaction of $59,362,500.00. Following the completion of the sale, the director directly owned 1,403,045 shares in the company, valued at approximately $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 SEC, which can be accessed through the SEC website. Also, VP Alana K. Knowles sold 3,978 shares of the business’s stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $160.00, for a total transaction of $636,480.00. Following the transaction, the vice president directly owned 1,181 shares in the company, valued at $188,960. The trade was a 77.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.21% of the company’s stock.

Chevron Price Performance

Shares of NYSE:CVX opened at $156.05 on Wednesday. The company has a market capitalization of $269.65 billion, a PE ratio of 20.08, a price-to-earnings-growth ratio of 4.40 and a beta of 0.83. 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 stock has a fifty day moving average of $155.33 and a 200-day moving average of $150.04. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96.

Chevron (NYSE:CVX) last issued its earnings results on Friday, October 31st. The oil and gas company reported $1.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.71 by $0.14. The business had revenue of $48.17 billion for the quarter, compared to analysts’ expectations of $46.99 billion. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The company’s quarterly revenue was down 1.9% on a year-over-year basis. During the same period in the previous year, the firm posted $2.48 EPS. As a group, equities analysts anticipate that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Tuesday, November 18th will be given a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date of this dividend is Tuesday, November 18th. Chevron’s dividend payout ratio is 96.20%.

Analyst Ratings Changes

CVX has been the topic of a number of research analyst reports. Wall Street Zen upgraded shares of Chevron from a “sell” rating to a “hold” rating in a research note on Saturday. Mizuho decreased their price target on Chevron from $192.00 to $191.00 and set an “outperform” rating for the company in a research note on Monday, September 15th. Scotiabank lifted their price target on Chevron from $160.00 to $165.00 and gave the company a “sector perform” rating in a research report on Thursday, October 9th. Melius Research began coverage on Chevron in a report on Wednesday, August 20th. They issued a “hold” rating and a $155.00 price objective for the company. Finally, Piper Sandler decreased their target price on Chevron from $171.00 to $169.00 and set an “overweight” rating for the company in a research note on Monday. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, Chevron currently has an average rating of “Hold” and an average target price of $165.45.

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.