Kentucky Retirement Systems Cuts Stock Holdings in Chevron Corporation (NYSE:CVX)

Kentucky Retirement Systems cut its stake in Chevron Corporation (NYSE:CVX - Free Report) by 4.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 111,798 shares of the oil and gas company's stock after selling 5,085 shares during the period. Chevron makes up about 0.6% of Kentucky Retirement Systems' portfolio, making the stock its 26th biggest holding. Kentucky Retirement Systems' holdings in Chevron were worth $18,703,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently modified their holdings of the stock. Sage Capital Advisors llc raised its stake in Chevron by 2.2% during the first quarter. Sage Capital Advisors llc now owns 42,421 shares of the oil and gas company's stock worth $7,097,000 after acquiring an additional 919 shares in the last quarter. CCG Wealth Management LLC boosted its position in Chevron by 2.3% in the first quarter. CCG Wealth Management LLC now owns 6,334 shares of the oil and gas company's stock valued at $1,060,000 after buying an additional 145 shares in the last quarter. Pines Wealth Management LLC boosted its position in Chevron by 3.3% in the first quarter. Pines Wealth Management LLC now owns 7,808 shares of the oil and gas company's stock valued at $1,306,000 after buying an additional 253 shares in the last quarter. Viking Fund Management LLC grew its stake in shares of Chevron by 9.3% during the first quarter. Viking Fund Management LLC now owns 117,000 shares of the oil and gas company's stock worth $19,573,000 after buying an additional 10,000 shares during the last quarter. Finally, Allianz SE acquired a new position in shares of Chevron during the fourth quarter worth $9,369,000. 72.42% of the stock is currently owned by institutional investors.

Chevron Trading Down 0.0%

Shares of CVX stock traded down $0.06 during trading hours on Wednesday, hitting $143.49. 7,381,933 shares of the company were exchanged, compared to its average volume of 8,257,024. The company has a 50 day simple moving average of $139.78 and a two-hundred day simple moving average of $148.49. The firm has a market cap of $250.59 billion, a P/E ratio of 16.40, a P/E/G ratio of 2.52 and a beta of 0.83. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.82 and a current ratio of 1.08. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96.

Chevron (NYSE:CVX - Get Free Report) last posted its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, beating the consensus estimate 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 7.76% and a return on equity of 10.73%. The business's revenue was down 2.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.93 earnings per share. Equities analysts anticipate that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were issued a dividend of $1.71 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.77%. Chevron's dividend payout ratio is 78.17%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on CVX shares. Mizuho lowered their target price on Chevron from $188.00 to $186.00 and set an "outperform" rating for the company in a report on Tuesday, May 13th. Wells Fargo & Company dropped their price objective on shares of Chevron from $173.00 to $164.00 and set an "overweight" rating for the company in a report on Monday, May 5th. Barclays lowered shares of Chevron from an "overweight" rating to an "equal weight" rating and reduced their target price for the stock from $171.00 to $152.00 in a report on Wednesday, April 23rd. BNP Paribas downgraded shares of Chevron to a "cautious" rating in a research note on Tuesday, April 15th. Finally, Hsbc Global Res cut shares of Chevron from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Chevron presently has an average rating of "Hold" and an average target price of $160.24.

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.