Chevron Corporation (NYSE:CVX) Shares Sold by New Mexico Educational Retirement Board

New Mexico Educational Retirement Board lessened its position in shares of Chevron Corporation (NYSE:CVX - Free Report) by 3.7% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 78,116 shares of the oil and gas company's stock after selling 3,000 shares during the quarter. Chevron accounts for 0.5% of New Mexico Educational Retirement Board's portfolio, making the stock its 24th largest position. New Mexico Educational Retirement Board's holdings in Chevron were worth $13,068,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Geode Capital Management LLC lifted its holdings in shares of Chevron by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 36,269,270 shares of the oil and gas company's stock valued at $5,247,142,000 after buying an additional 392,916 shares during the period. Norges Bank acquired a new position in shares of Chevron in the 4th quarter valued at about $3,017,750,000. Northern Trust Corp lifted its holdings in shares of Chevron by 7.3% in the 4th quarter. Northern Trust Corp now owns 20,471,800 shares of the oil and gas company's stock valued at $2,965,135,000 after buying an additional 1,394,091 shares during the period. Franklin Resources Inc. raised its holdings in Chevron by 0.5% in the 4th quarter. Franklin Resources Inc. now owns 17,280,105 shares of the oil and gas company's stock worth $2,502,850,000 after purchasing an additional 79,917 shares during the period. Finally, Ameriprise Financial Inc. raised its holdings in Chevron by 1.3% in the 4th quarter. Ameriprise Financial Inc. now owns 16,718,838 shares of the oil and gas company's stock worth $2,421,564,000 after purchasing an additional 211,023 shares during the period. Hedge funds and other institutional investors own 72.42% of the company's stock.

Analyst Ratings Changes

A number of research firms recently weighed in on CVX. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $165.00 price target (up previously from $164.00) on shares of Chevron in a report on Thursday, June 26th. Redburn Atlantic reaffirmed a "sell" rating and issued a $124.00 price target (down previously from $156.00) on shares of Chevron in a report on Wednesday, April 23rd. DZ Bank cut Chevron from a "buy" rating to a "sell" rating and set a $130.00 price target for the company. in a report on Tuesday, May 6th. Hsbc Global Res cut Chevron from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 13th. Finally, HSBC cut Chevron from a "buy" rating to a "hold" rating and reduced their price target for the stock from $176.00 to $158.00 in a report on Tuesday, May 13th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat, Chevron has a consensus rating of "Hold" and a consensus target price of $160.65.

Chevron Stock Performance

CVX stock remained flat at $153.24 during trading on Wednesday. 9,494,909 shares of the company's stock were exchanged, compared to its average volume of 8,327,300. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.17. The stock has a 50-day simple moving average of $141.58 and a 200 day simple moving average of $148.22. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96. The stock has a market cap of $267.62 billion, a price-to-earnings ratio of 17.51, a price-to-earnings-growth ratio of 2.50 and a beta of 0.83.

Chevron (NYSE:CVX - Get Free Report) last issued its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.03. The company had revenue of $47.61 billion during the quarter, compared to analyst estimates of $49.05 billion. Chevron had a return on equity of 10.73% and a net margin of 7.76%. The firm's revenue for the quarter was down 2.3% compared to the same quarter last year. During the same period in the prior year, the business posted $2.93 earnings per share. On average, research analysts anticipate that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were given 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 4.46%. Chevron's dividend payout ratio is currently 78.17%.

Chevron 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.