Chevron Corporation $CVX Shares Sold by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System trimmed its stake in shares of Chevron Corporation (NYSE:CVX - Free Report) by 4.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 85,700 shares of the oil and gas company's stock after selling 4,200 shares during the period. Louisiana State Employees Retirement System's holdings in Chevron were worth $12,271,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CVX. Harvest Fund Management Co. Ltd increased its holdings in 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 purchased a new position in Chevron in the first quarter valued at $31,000. Cloud Capital Management LLC purchased a new position in Chevron during the first quarter worth approximately $39,000. Investment Management Corp VA ADV boosted its position in Chevron by 171.3% during the first quarter. Investment Management Corp VA ADV now owns 236 shares of the oil and gas company's stock worth $39,000 after purchasing an additional 149 shares in the last quarter. Finally, Cooksen Wealth LLC purchased a new position in Chevron during the first quarter worth approximately $43,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Chevron

In related news, VP Alana K. Knowles sold 3,978 shares of the stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $160.00, for a total value of $636,480.00. Following the completion of the sale, the vice president owned 1,181 shares of the company's stock, valued at approximately $188,960. This trade represents a 77.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John B. Hess sold 375,000 shares of the stock in a transaction that occurred on 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 sale, the director directly owned 1,403,045 shares of the company's stock, valued at approximately $222,102,023.50. This represents a 21.09% decrease in their position. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on CVX shares. Melius Research started coverage on Chevron in a research report on Wednesday, August 20th. They set a "hold" rating and a $155.00 price target on the stock. Jefferies Financial Group reiterated a "buy" rating on shares of Chevron in a research report on Friday, July 18th. UBS Group increased their price target on Chevron from $186.00 to $197.00 and gave the stock a "buy" rating in a research report on Wednesday, August 20th. Bank of America increased their price target on Chevron from $170.00 to $185.00 and gave the stock a "buy" rating in a research report on Wednesday, September 10th. Finally, TD Cowen increased their price target on Chevron from $150.00 to $155.00 and gave the stock a "hold" rating in a research report on Monday, August 4th. Eleven investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $165.15.

Chevron Price Performance

NYSE:CVX opened at $154.92 on Wednesday. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96. 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 market cap of $267.70 billion, a PE ratio of 19.94, a P/E/G ratio of 1.99 and a beta of 0.84. The stock has a 50 day moving average price of $156.15 and a 200 day moving average price of $148.84.

Chevron (NYSE:CVX - Get Free Report) last posted its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, beating the consensus estimate of $1.58 by $0.19. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The firm had revenue of $44.82 billion during the quarter, compared to analysts' expectations of $44.59 billion. During the same quarter last year, the firm earned $2.55 earnings per share. The business's revenue for the quarter was down 12.4% on a year-over-year basis. Equities research analysts expect 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 was paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th were issued a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.4%. The ex-dividend date of this dividend was Tuesday, August 19th. Chevron's dividend payout ratio (DPR) is currently 88.03%.

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.

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