Chevron Co. (NYSE:CVX) Shares Sold by Kentucky Retirement Systems Insurance Trust Fund

by · The Markets Daily

Kentucky Retirement Systems Insurance Trust Fund trimmed its holdings in shares of Chevron Co. (NYSE:CVX – Free Report) by 8.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 50,359 shares of the oil and gas company’s stock after selling 4,923 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Chevron were worth $7,416,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Rational Advisors LLC acquired a new position in Chevron in the 3rd quarter valued at $29,000. Anfield Capital Management LLC raised its position in shares of Chevron by 118.0% in the second quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock valued at $34,000 after buying an additional 118 shares during the last quarter. Cyrus J. Lawrence LLC raised its position in shares of Chevron by 66.7% in the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after buying an additional 100 shares during the last quarter. Krane Funds Advisors LLC purchased a new position in shares of Chevron in the third quarter worth about $47,000. Finally, Livelsberger Financial Advisory purchased a new stake in Chevron during the 3rd quarter valued at about $47,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Stock Down 0.2 %

NYSE:CVX opened at $161.42 on Friday. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.11. The stock’s fifty day moving average is $149.39 and its two-hundred day moving average is $152.68. The stock has a market capitalization of $290.09 billion, a price-to-earnings ratio of 17.74, a price-to-earnings-growth ratio of 3.57 and a beta of 1.09. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX – Get Free Report) last posted its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.47 by $0.04. The firm had revenue of $50.67 billion for the quarter, compared to analyst estimates of $48.86 billion. Chevron had a return on equity of 13.15% and a net margin of 8.44%. Chevron’s revenue was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.05 EPS. Research analysts anticipate that Chevron Co. will post 10.55 EPS for the current year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 18th will be issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.04%. The ex-dividend date of this dividend is Monday, November 18th. Chevron’s dividend payout ratio (DPR) is currently 71.65%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Barclays raised their target price on shares of Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Truist Financial boosted their price objective on Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a research note on Monday, November 4th. DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price for the company in a research note on Tuesday, November 5th. Bank of America assumed coverage on shares of Chevron in a research report on Thursday, October 17th. They set a “buy” rating and a $168.00 price target on the stock. Finally, UBS Group raised their price objective on shares of Chevron from $192.00 to $194.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $174.93.

Get Our Latest Analysis on Chevron

About Chevron

(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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