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

New Mexico Educational Retirement Board cut its holdings in shares of Chevron Corporation (NYSE:CVX - Free Report) by 3.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor 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 investment portfolio, making the stock its 24th largest position. New Mexico Educational Retirement Board's holdings in Chevron were worth $13,068,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CVX. Eagle Capital Management LLC increased its holdings in shares of Chevron by 0.7% in the 4th quarter. Eagle Capital Management LLC now owns 34,600 shares of the oil and gas company's stock valued at $5,011,000 after acquiring an additional 242 shares during the last quarter. Bank Pictet & Cie Europe AG boosted its holdings in Chevron by 7.9% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 35,985 shares of the oil and gas company's stock valued at $5,212,000 after purchasing an additional 2,641 shares in the last quarter. Proficio Capital Partners LLC increased its stake in Chevron by 59.5% in the fourth quarter. Proficio Capital Partners LLC now owns 5,851 shares of the oil and gas company's stock valued at $847,000 after purchasing an additional 2,182 shares during the last quarter. Edgestream Partners L.P. purchased a new position in Chevron in the fourth quarter valued at approximately $1,769,000. Finally, Clare Market Investments LLC acquired a new stake in Chevron during the fourth quarter worth approximately $524,000. Hedge funds and other institutional investors own 72.42% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on CVX shares. Barclays lifted their target price on shares of Chevron from $152.00 to $156.00 and gave the company an "equal weight" rating in a report on Monday. TD Cowen dropped their price objective on shares of Chevron from $155.00 to $150.00 and set a "hold" rating on the stock in a research note on Monday, May 5th. HSBC cut shares of Chevron from a "buy" rating to a "hold" rating and reduced their target price for the company from $176.00 to $158.00 in a report on Tuesday, May 13th. Scotiabank upped their price objective on Chevron from $143.00 to $160.00 and gave the company a "sector perform" rating in a research note on Friday. Finally, Redburn Atlantic restated a "sell" rating and issued a $124.00 target price (down previously from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Chevron currently has an average rating of "Hold" and an average target price of $161.65.

Chevron Trading Up 0.8%

CVX stock traded up $1.21 during midday trading on Friday, reaching $155.38. 8,332,244 shares of the company's stock traded hands, compared to its average volume of 8,351,255. 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 fifty-two week low of $132.04 and a fifty-two week high of $168.96. The business has a 50-day moving average price of $142.28 and a two-hundred day moving average price of $148.33. The company has a market capitalization of $271.35 billion, a P/E ratio of 17.76, a PEG ratio of 2.59 and a beta of 0.83.

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 analysts' consensus estimates of $2.15 by $0.03. The business 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 business's revenue for the quarter was down 2.3% compared to the same quarter last year. During the same period in the previous year, the company posted $2.93 earnings per share. Equities research analysts forecast that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th were given a $1.71 dividend. The ex-dividend date was Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a yield of 4.40%. Chevron's 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.