Teacher Retirement System of Texas grew its stake in Chevron Corporation (NYSE:CVX - Free Report) by 9.3% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 578,975 shares of the oil and gas company's stock after purchasing an additional 49,319 shares during the quarter. Teacher Retirement System of Texas' holdings in Chevron were worth $96,857,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. IMG Wealth Management Inc. bought a new stake in shares of Chevron in the fourth quarter valued at $25,000. Mizuho Securities Co. Ltd. purchased a new position in shares of Chevron in the fourth quarter valued at $29,000. 10Elms LLP bought a new stake in shares of Chevron during the 4th quarter valued at $29,000. Fairway Wealth LLC raised its stake in shares of Chevron by 75.9% during the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company's stock valued at $30,000 after purchasing an additional 88 shares during the period. Finally, IFS Advisors LLC raised its stake in shares of Chevron by 119.6% during the 1st quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company's stock valued at $36,000 after purchasing an additional 116 shares during the period. Institutional investors own 72.42% of the company's stock.
Chevron Price Performance
Shares of Chevron stock traded up $0.25 during trading on Friday, hitting $148.23. 5,173,309 shares of the stock traded hands, compared to its average volume of 8,281,546. 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 stock has a market cap of $258.86 billion, a price-to-earnings ratio of 16.94, a PEG ratio of 2.51 and a beta of 0.83. The firm's fifty day moving average is $141.16 and its 200-day moving average is $148.07. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $168.96.
Chevron (NYSE:CVX - Get Free Report) last announced its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, beating the consensus estimate of $2.15 by $0.03. The firm had revenue of $47.61 billion for the quarter, compared to analyst estimates of $49.05 billion. Chevron had a return on equity of 10.73% and a net margin of 7.76%. The company's revenue was down 2.3% on a year-over-year basis. During the same period in the prior year, the company earned $2.93 EPS. Research analysts expect that Chevron Corporation will post 10.79 EPS for the current fiscal year.
Chevron Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were given a dividend of $1.71 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.61%. Chevron's dividend payout ratio (DPR) is presently 78.17%.
Wall Street Analyst Weigh In
A number of analysts recently issued reports on CVX shares. Scotiabank lowered Chevron from a "sector outperform" rating to a "sector perform" rating and decreased their price objective for the company from $160.00 to $143.00 in a research note on Friday, April 11th. TD Cowen decreased their price objective on Chevron from $155.00 to $150.00 and set a "hold" rating on the stock in a research note on Monday, May 5th. Redburn Atlantic reiterated a "sell" rating and set a $124.00 price objective (down from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. DZ Bank lowered Chevron from a "buy" rating to a "sell" rating and set a $130.00 price objective on the stock. in a research note on Tuesday, May 6th. Finally, HSBC lowered Chevron from a "buy" rating to a "hold" rating and decreased their target price for the stock from $176.00 to $158.00 in a research note on Tuesday, May 13th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $160.41.
Check Out Our Latest Stock Report on CVX
Chevron Company Profile
(
Free Report)
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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