Chevron Corporation (NYSE:CVX) Shares Sold by South Dakota Investment Council

South Dakota Investment Council reduced its stake in shares of Chevron Corporation (NYSE:CVX - Free Report) by 82.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,565 shares of the oil and gas company's stock after selling 16,629 shares during the quarter. South Dakota Investment Council's holdings in Chevron were worth $596,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. CoreCap Advisors LLC raised its position in shares of Chevron by 0.3% during the fourth quarter. CoreCap Advisors LLC now owns 28,248 shares of the oil and gas company's stock worth $4,091,000 after purchasing an additional 71 shares during the period. Clayton Financial Group LLC raised its position in Chevron by 4.6% during the first quarter. Clayton Financial Group LLC now owns 1,702 shares of the oil and gas company's stock valued at $285,000 after buying an additional 75 shares during the period. Requisite Capital Management LLC raised its position in Chevron by 1.2% during the first quarter. Requisite Capital Management LLC now owns 6,362 shares of the oil and gas company's stock valued at $1,064,000 after buying an additional 77 shares during the period. Silverlake Wealth Management LLC increased its position in Chevron by 0.7% in the 1st quarter. Silverlake Wealth Management LLC now owns 10,929 shares of the oil and gas company's stock worth $1,828,000 after purchasing an additional 78 shares during the last quarter. Finally, Annandale Capital LLC increased its position in Chevron by 5.7% in the 4th quarter. Annandale Capital LLC now owns 1,471 shares of the oil and gas company's stock worth $213,000 after purchasing an additional 79 shares during the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on CVX shares. Hsbc Global Res lowered Chevron from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Wells Fargo & Company restated an "overweight" rating and issued a $165.00 price objective (up from $164.00) on shares of Chevron in a report on Thursday, June 26th. Redburn Atlantic reissued a "sell" rating and set a $124.00 price objective (down previously from $156.00) on shares of Chevron in a report on Wednesday, April 23rd. Scotiabank restated a "sector perform" rating and issued a $160.00 target price (up from $143.00) on shares of Chevron in a research note on Friday, July 11th. Finally, Piper Sandler reissued an "overweight" rating on shares of Chevron in a research note on Tuesday, July 15th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Chevron presently has a consensus rating of "Hold" and a consensus target price of $161.31.

Chevron Trading Down 0.3%

CVX opened at $149.65 on Tuesday. The stock has a market capitalization of $261.35 billion, a price-to-earnings ratio of 17.10, a PEG ratio of 2.48 and a beta of 0.83. 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 12 month low of $132.04 and a 12 month high of $168.96. The business has a fifty day moving average price of $144.04 and a 200 day moving average price of $148.68.

Chevron (NYSE:CVX - Get Free Report) last announced its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.15 by $0.03. Chevron had a return on equity of 10.73% and a net margin of 7.76%. The business had revenue of $47.61 billion for the quarter, compared to analyst estimates of $49.05 billion. During the same period in the previous year, the company earned $2.93 earnings per share. The company's revenue for the quarter was down 2.3% compared to the same quarter last year. Sell-side analysts expect that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently declared 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 was Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a yield of 4.57%. Chevron's dividend payout ratio (DPR) is currently 78.17%.

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.

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