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

New Mexico Educational Retirement Board lowered its stake in shares of Chevron Corporation (NYSE:CVX - Free Report) by 3.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 78,116 shares of the oil and gas company's stock after selling 3,000 shares during the period. Chevron comprises 0.5% of New Mexico Educational Retirement Board's portfolio, making the stock its 24th largest holding. New Mexico Educational Retirement Board's holdings in Chevron were worth $13,068,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. IMG Wealth Management Inc. acquired a new stake in shares of Chevron in the fourth quarter worth $25,000. Life Planning Partners Inc purchased a new position in shares of Chevron in the fourth quarter valued at $25,000. Mizuho Securities Co. Ltd. acquired a new position in Chevron during the 4th quarter worth $29,000. 10Elms LLP acquired a new position in Chevron during the 4th quarter worth $29,000. Finally, Fairway Wealth LLC lifted its position in shares of Chevron by 75.9% in the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company's stock worth $30,000 after buying an additional 88 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company's stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Piper Sandler boosted their target price on shares of Chevron from $162.00 to $164.00 and gave the company an "overweight" rating in a research note on Wednesday, July 2nd. Hsbc Global Res downgraded shares of Chevron from a "strong-buy" rating to a "hold" rating 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. HSBC lowered shares of Chevron from a "buy" rating to a "hold" rating and dropped their price objective for the company from $176.00 to $158.00 in a research note on Tuesday, May 13th. Finally, DZ Bank lowered shares of Chevron from a "buy" rating to a "sell" rating and set a $130.00 price objective on the stock. in a research note on Tuesday, May 6th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat, Chevron has an average rating of "Hold" and a consensus target price of $160.65.

Chevron Stock Performance

Shares of CVX stock opened at $153.04 on Wednesday. The firm has a market capitalization of $267.27 billion, a PE ratio of 17.49, a price-to-earnings-growth ratio of 2.50 and a beta of 0.83. The firm has a fifty day simple moving average of $141.58 and a two-hundred day simple moving average of $148.22. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.17. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $168.96.

Chevron (NYSE:CVX - Get Free Report) last posted its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, topping the consensus estimate of $2.15 by $0.03. The firm had revenue of $47.61 billion for the quarter, compared to analysts' expectations of $49.05 billion. Chevron had a net margin of 7.76% and a return on equity of 10.73%. The company's quarterly revenue was down 2.3% compared to the same quarter last year. During the same quarter last year, the firm earned $2.93 EPS. Analysts forecast that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were paid a $1.71 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a yield of 4.47%. Chevron's dividend payout ratio is 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.

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