New York State Common Retirement Fund Has $308 Million Stake in Chevron Corporation (NYSE:CVX)

New York State Common Retirement Fund cut its position in shares of Chevron Corporation (NYSE:CVX - Free Report) by 18.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,841,086 shares of the oil and gas company's stock after selling 406,623 shares during the quarter. New York State Common Retirement Fund owned 0.10% of Chevron worth $307,995,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in CVX. Eagle Capital Management LLC lifted its stake in Chevron by 0.7% in the fourth quarter. Eagle Capital Management LLC now owns 34,600 shares of the oil and gas company's stock valued at $5,011,000 after buying an additional 242 shares during the last quarter. Bank Pictet & Cie Europe AG increased its holdings in shares of Chevron by 7.9% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 35,985 shares of the oil and gas company's stock worth $5,212,000 after acquiring an additional 2,641 shares during the period. Proficio Capital Partners LLC lifted its position in Chevron by 59.5% in the 4th 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. Wellington Shields & Co. LLC boosted its stake in Chevron by 2.1% during the 4th quarter. Wellington Shields & Co. LLC now owns 12,726 shares of the oil and gas company's stock valued at $1,843,000 after purchasing an additional 262 shares during the period. Finally, Greatmark Investment Partners Inc. grew its position in Chevron by 4.2% in the 4th quarter. Greatmark Investment Partners Inc. now owns 28,984 shares of the oil and gas company's stock worth $4,198,000 after purchasing an additional 1,177 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company's stock.

Chevron Trading Up 0.8%

Shares of CVX stock traded up $1.21 during trading hours on Friday, reaching $155.38. 8,332,244 shares of the stock traded hands, compared to its average volume of 8,359,711. 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 firm has a market capitalization of $271.35 billion, a PE ratio of 17.76, a PEG ratio of 2.63 and a beta of 0.83. Chevron Corporation has a 1-year low of $132.04 and a 1-year high of $168.96. The business has a fifty day moving average price of $142.62 and a 200 day moving average price of $148.44.

Chevron (NYSE:CVX - Get Free Report) last released its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, beating 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 company had revenue of $47.61 billion during the quarter, compared to analyst estimates of $49.05 billion. During the same quarter in the prior year, the company earned $2.93 earnings per share. The company's revenue for the quarter was down 2.3% on a year-over-year basis. On average, equities research analysts forecast that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th were paid a dividend of $1.71 per share. The ex-dividend date was Monday, May 19th. This represents a $6.84 annualized dividend and a yield of 4.40%. Chevron's dividend payout ratio (DPR) is presently 78.17%.

Analyst Upgrades and Downgrades

CVX has been the subject of several analyst reports. TD Cowen reduced their price objective on Chevron from $155.00 to $150.00 and set a "hold" rating for the company in a research report on Monday, May 5th. Hsbc Global Res lowered Chevron from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Piper Sandler raised their price target on Chevron from $162.00 to $164.00 and gave the company an "overweight" rating in a report on Wednesday, July 2nd. Redburn Atlantic reaffirmed a "sell" rating and issued a $124.00 price objective (down previously from $156.00) on shares of Chevron in a report on Wednesday, April 23rd. Finally, Barclays raised their target price on shares of Chevron from $152.00 to $156.00 and gave the company an "equal weight" rating in a research note on Monday, July 7th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $161.65.

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.