Illinois Municipal Retirement Fund Decreases Holdings in Chevron Corporation (NYSE:CVX)

Illinois Municipal Retirement Fund decreased its position in Chevron Corporation (NYSE:CVX - Free Report) by 1.1% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 165,889 shares of the oil and gas company's stock after selling 1,798 shares during the period. Illinois Municipal Retirement Fund's holdings in Chevron were worth $27,752,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. IMG Wealth Management Inc. bought a new position in shares of Chevron in the fourth quarter worth approximately $25,000. Mizuho Securities Co. Ltd. bought a new position in shares of Chevron in the fourth quarter worth approximately $29,000. 10Elms LLP bought a new stake in Chevron in the fourth quarter valued at $29,000. Fairway Wealth LLC boosted its holdings in Chevron by 75.9% in the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company's stock valued at $30,000 after acquiring an additional 88 shares in the last quarter. Finally, IFS Advisors LLC boosted its holdings in Chevron by 119.6% in the first quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company's stock valued at $36,000 after acquiring an additional 116 shares in the last quarter. Institutional investors own 72.42% of the company's stock.

Chevron Stock Performance

Shares of CVX stock opened at $143.87 on Friday. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $168.96. The stock has a market cap of $251.26 billion, a PE ratio of 16.44, a price-to-earnings-growth ratio of 2.54 and a beta of 0.83. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.17. The company's fifty day moving average price is $140.20 and its 200-day moving average price is $148.27.

Chevron (NYSE:CVX - Get Free Report) last announced its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, beating analysts' consensus estimates 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% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.93 EPS. On average, equities analysts expect that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were given a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.75%. The ex-dividend date was Monday, May 19th. Chevron's dividend payout ratio is presently 78.17%.

Analyst Ratings Changes

Several analysts recently weighed in on CVX shares. BNP Paribas cut shares of Chevron to a "cautious" rating in a report on Tuesday, April 15th. Redburn Atlantic reiterated 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 shares of Chevron from a "buy" rating to a "sell" rating and set a $130.00 price target on the stock. in a report on Tuesday, May 6th. 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. Finally, HSBC cut shares of Chevron from a "buy" rating to a "hold" rating and cut their price target for the company from $176.00 to $158.00 in a report on Tuesday, May 13th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $160.29.

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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