Chevron Co. (NYSE:CVX) Stake Lessened by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio trimmed its stake in shares of Chevron Co. (NYSE:CVX - Free Report) by 3.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 749,289 shares of the oil and gas company's stock after selling 30,137 shares during the period. Public Employees Retirement System of Ohio's holdings in Chevron were worth $108,527,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of CVX. TFB Advisors LLC raised its position in shares of Chevron by 2.4% during the 4th quarter. TFB Advisors LLC now owns 2,840 shares of the oil and gas company's stock worth $411,000 after purchasing an additional 66 shares during the last quarter. W.H. Cornerstone Investments Inc. raised its holdings in Chevron by 1.4% in the 4th quarter. W.H. Cornerstone Investments Inc. now owns 4,672 shares of the oil and gas company's stock valued at $677,000 after acquiring an additional 66 shares during the last quarter. Parkside Financial Bank & Trust grew its stake in shares of Chevron by 0.4% during the 4th quarter. Parkside Financial Bank & Trust now owns 15,240 shares of the oil and gas company's stock valued at $2,207,000 after buying an additional 66 shares during the period. Western Pacific Wealth Management LP grew its stake in shares of Chevron by 14.9% during the 4th quarter. Western Pacific Wealth Management LP now owns 517 shares of the oil and gas company's stock valued at $75,000 after buying an additional 67 shares during the period. Finally, Berkeley Capital Partners LLC grew its stake in shares of Chevron by 0.4% during the 4th quarter. Berkeley Capital Partners LLC now owns 17,757 shares of the oil and gas company's stock valued at $2,572,000 after buying an additional 67 shares during the period. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Stock Up 0.7%

CVX stock traded up $0.98 during trading on Tuesday, reaching $137.52. The stock had a trading volume of 4,305,358 shares, compared to its average volume of 8,820,195. The company has a market capitalization of $240.17 billion, a P/E ratio of 14.15, a PEG ratio of 1.46 and a beta of 0.83. The firm has a fifty day moving average price of $144.12 and a 200 day moving average price of $151.03. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. Chevron Co. has a 1-year low of $132.04 and a 1-year high of $168.96.

Chevron (NYSE:CVX - Get Free Report) last issued 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. The business had revenue of $47.61 billion for the quarter, compared to analyst estimates of $49.05 billion. Chevron had a net margin of 8.71% and a return on equity of 11.44%. The company's revenue for the quarter was down 2.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.93 EPS. On average, equities analysts anticipate that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th will be given a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 4.97%. The ex-dividend date of this dividend is Monday, May 19th. Chevron's dividend payout ratio (DPR) is 78.17%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on CVX shares. TD Cowen decreased their price target on shares of Chevron from $155.00 to $150.00 and set a "hold" rating for the company in a research report on Monday, May 5th. Truist Financial decreased their price target on shares of Chevron from $164.00 to $160.00 and set a "hold" rating for the company in a research report on Tuesday, February 4th. DZ Bank cut shares of Chevron from a "buy" rating to a "sell" rating and set a $130.00 price target for the company. in a research report on Tuesday, May 6th. Barclays cut shares of Chevron from an "overweight" rating to an "equal weight" rating and decreased their price target for the stock from $171.00 to $152.00 in a research report on Wednesday, April 23rd. Finally, Piper Sandler decreased their price target on shares of Chevron from $173.00 to $162.00 and set an "overweight" rating for the company in a research report on Tuesday, May 13th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Chevron has a consensus rating of "Hold" and an average target price of $160.24.

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.