Employees Retirement System of Texas Has $2.12 Million Position in Chevron Co. (NYSE:CVX)

Employees Retirement System of Texas lessened its holdings in Chevron Co. (NYSE:CVX - Free Report) by 20.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,610 shares of the oil and gas company's stock after selling 3,800 shares during the quarter. Employees Retirement System of Texas' holdings in Chevron were worth $2,116,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. IMG Wealth Management Inc. acquired a new position in Chevron during the fourth quarter worth $25,000. Mizuho Securities Co. Ltd. bought a new position in shares of Chevron in the 4th quarter valued at about $29,000. 10Elms LLP bought a new position in shares of Chevron in the 4th quarter valued at about $29,000. Fairway Wealth LLC increased its stake in shares of Chevron by 75.9% during the 4th 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 last quarter. Finally, Navigoe LLC acquired a new position in shares of Chevron during the 4th quarter worth about $33,000. Institutional investors and hedge funds own 72.42% of the company's stock.

Analyst Upgrades and Downgrades

CVX has been the topic of several recent analyst reports. Mizuho lowered their price objective on shares of Chevron from $188.00 to $186.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 13th. HSBC lowered shares of Chevron from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $176.00 to $158.00 in a research note on Tuesday, May 13th. UBS Group lowered their price objective on shares of Chevron from $194.00 to $185.00 and set a "buy" rating on the stock in a research note on Monday, April 7th. Hsbc Global Res lowered shares of Chevron from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Finally, Redburn Atlantic restated a "sell" rating and set a $124.00 price objective (down from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $160.24.

Chevron Stock Performance

NYSE CVX traded down $1.78 during trading on Wednesday, reaching $136.05. The company's stock had a trading volume of 6,859,635 shares, compared to its average volume of 8,082,541. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $237.60 billion, a price-to-earnings ratio of 14.00, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83. Chevron Co. has a 12 month low of $132.04 and a 12 month high of $168.96. The firm has a 50 day moving average price of $143.58 and a 200 day moving average price of $150.94.

Chevron (NYSE:CVX - Get Free Report) last posted its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.15 by $0.03. The firm had revenue of $47.61 billion during the quarter, compared to the consensus estimate of $49.05 billion. Chevron had a net margin of 8.71% and a return on equity of 11.44%. The business's revenue for the quarter was down 2.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.93 EPS. As a group, equities analysts anticipate that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th will be given a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 5.03%. The ex-dividend date of this dividend is Monday, May 19th. Chevron's payout ratio is presently 78.17%.

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.