Chevron Corporation (NYSE:CVX) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems reduced its position in shares of Chevron Corporation (NYSE:CVX - Free Report) by 4.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 111,798 shares of the oil and gas company's stock after selling 5,085 shares during the period. Chevron comprises 0.6% of Kentucky Retirement Systems' portfolio, making the stock its 26th largest position. Kentucky Retirement Systems' holdings in Chevron were worth $18,703,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the company. Guyasuta Investment Advisors Inc. lifted its position in shares of Chevron by 4.7% during the first quarter. Guyasuta Investment Advisors Inc. now owns 253,451 shares of the oil and gas company's stock worth $42,400,000 after purchasing an additional 11,311 shares in the last quarter. Consolidated Investment Group LLC lifted its position in shares of Chevron by 12.5% during the first quarter. Consolidated Investment Group LLC now owns 27,780 shares of the oil and gas company's stock worth $4,644,000 after purchasing an additional 3,080 shares in the last quarter. North Point Portfolio Managers Corp OH acquired a new position in shares of Chevron during the first quarter worth $392,000. Childress Capital Advisors LLC lifted its position in shares of Chevron by 1.4% during the first quarter. Childress Capital Advisors LLC now owns 8,351 shares of the oil and gas company's stock worth $1,397,000 after purchasing an additional 118 shares in the last quarter. Finally, Cross Staff Investments Inc lifted its position in shares of Chevron by 9.4% during the first quarter. Cross Staff Investments Inc now owns 5,378 shares of the oil and gas company's stock worth $900,000 after purchasing an additional 464 shares in the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Stock Up 0.8%

CVX stock opened at $149.36 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.08 and a quick ratio of 0.82. Chevron Corporation has a 1-year low of $132.04 and a 1-year high of $168.96. The firm has a fifty day moving average price of $139.37 and a two-hundred day moving average price of $148.65. The firm has a market cap of $260.84 billion, a price-to-earnings ratio of 17.07, a PEG ratio of 2.63 and a beta of 0.83.

Chevron (NYSE:CVX - Get Free Report) last released its 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. Chevron had a net margin of 7.76% and a return on equity of 10.73%. The firm had revenue of $47.61 billion during the quarter, compared to analyst estimates of $49.05 billion. During the same quarter in the previous year, the firm earned $2.93 earnings per share. The firm's revenue for the quarter was down 2.3% compared to the same quarter last year. Research analysts predict that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th were paid a dividend of $1.71 per share. The ex-dividend date was Monday, May 19th. This represents a $6.84 annualized dividend and a yield of 4.58%. Chevron's payout ratio is 78.17%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CVX. Mizuho reduced their target price on shares of Chevron from $188.00 to $186.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 13th. Piper Sandler cut their price target on shares of Chevron from $173.00 to $162.00 and set an "overweight" rating on the stock in a report on Tuesday, May 13th. UBS Group cut their price target on shares of Chevron from $194.00 to $185.00 and set a "buy" rating on the stock in a report on Monday, April 7th. Barclays cut shares of Chevron from an "overweight" rating to an "equal weight" rating and cut their price target for the company from $171.00 to $152.00 in a report on Wednesday, April 23rd. Finally, Wells Fargo & Company cut their price target on shares of Chevron from $173.00 to $164.00 and set an "overweight" rating on the stock in a report on Monday, May 5th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $160.24.

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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