Public Employees Retirement System of Ohio Sells 67,474 Shares of Chevron Corporation $CVX

Public Employees Retirement System of Ohio lessened its stake in shares of Chevron Corporation (NYSE:CVX - Free Report) by 8.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 728,946 shares of the oil and gas company's stock after selling 67,474 shares during the period. Public Employees Retirement System of Ohio's holdings in Chevron were worth $120,830,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of CVX. Strive Financial Group LLC lifted its stake in shares of Chevron by 182.8% in the second quarter. Strive Financial Group LLC now owns 3,425 shares of the oil and gas company's stock worth $568,000 after buying an additional 2,214 shares during the last quarter. Fayez Sarofim & Co grew its stake in Chevron by 2.4% in the 2nd quarter. Fayez Sarofim & Co now owns 6,316,069 shares of the oil and gas company's stock valued at $1,046,952,000 after buying an additional 148,302 shares during the last quarter. Redwood Investment Management LLC grew its stake in Chevron by 5.9% in the 2nd quarter. Redwood Investment Management LLC now owns 5,274 shares of the oil and gas company's stock valued at $874,000 after buying an additional 293 shares during the last quarter. Proficio Capital Partners LLC raised its holdings in Chevron by 423.6% in the 2nd quarter. Proficio Capital Partners LLC now owns 8,330 shares of the oil and gas company's stock worth $1,381,000 after acquiring an additional 6,739 shares during the period. Finally, Payne Capital Management LLC raised its holdings in Chevron by 101.0% in the 2nd quarter. Payne Capital Management LLC now owns 1,675 shares of the oil and gas company's stock worth $278,000 after acquiring an additional 171,805 shares during the period. Institutional investors own 72.42% of the company's stock.

Chevron Price Performance

Shares of Chevron stock opened at $199.91 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.25 and a quick ratio of 0.98. The company has a market cap of $394.98 billion, a PE ratio of 19.17, a price-to-earnings-growth ratio of 0.60 and a beta of 0.49. The firm has a fifty day moving average price of $186.87 and a two-hundred day moving average price of $188.76. Chevron Corporation has a fifty-two week low of $146.49 and a fifty-two week high of $214.71.

Chevron (NYSE:CVX - Get Free Report) last posted its quarterly earnings data on Friday, July 31st. The oil and gas company reported $6.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.55 by $0.51. The company had revenue of $67.20 billion for the quarter, compared to the consensus estimate of $62.72 billion. Chevron had a net margin of 9.57% and a return on equity of 11.09%. The business's revenue was up 57.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.77 EPS. Analysts expect that Chevron Corporation will post 16.17 EPS for the current year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be given a dividend of $1.78 per share. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $7.12 dividend on an annualized basis and a yield of 3.6%. Chevron's dividend payout ratio (DPR) is 68.26%.

Analyst Ratings Changes

A number of research firms have issued reports on CVX. Royal Bank Of Canada restated an "outperform" rating and set a $220.00 price target on shares of Chevron in a report on Tuesday, May 5th. The Goldman Sachs Group reiterated a "buy" rating and issued a $216.00 price objective on shares of Chevron in a research note on Wednesday, May 6th. Bank of America boosted their price objective on Chevron from $210.00 to $227.00 and gave the stock a "buy" rating in a research report on Tuesday, July 28th. TD Cowen increased their target price on Chevron from $200.00 to $205.00 and gave the company a "hold" rating in a research note on Wednesday, August 5th. Finally, UBS Group reaffirmed a "buy" rating on shares of Chevron in a report on Tuesday, June 23rd. Twenty analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $207.48.

Insider Transactions at Chevron

In other Chevron news, CEO Michael K. Wirth sold 317,100 shares of the firm's stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $200.46, for a total value of $63,565,866.00. Following the completion of the sale, the chief executive officer owned 26,308 shares in the company, valued at approximately $5,273,701.68. This trade represents a 92.34% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John B. Hess sold 710,665 shares of Chevron stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $194.10, for a total value of $137,940,076.50. Following the sale, the director directly owned 363,711 shares in the company, valued at $70,596,305.10. The trade was a 66.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 1,152,582 shares of company stock valued at $225,853,661. 0.56% of the stock is currently owned by insiders.

Chevron Company Profile

Chevron Corporation NYSE: CVX is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron's core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.

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