Chevron Co. (NYSE:CVX) Shares Acquired by Arizona State Retirement System

Arizona State Retirement System boosted its position in Chevron Co. (NYSE:CVX) by 0.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 504,410 shares of the oil and gas company’s stock after acquiring an additional 2,409 shares during the quarter. Chevron accounts for about 0.4% of Arizona State Retirement System’s holdings, making the stock its 29th biggest holding. Arizona State Retirement System’s holdings in Chevron were worth $73,059,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Verdence Capital Advisors LLC increased its stake in Chevron by 21.5% in the fourth quarter. Verdence Capital Advisors LLC now owns 30,336 shares of the oil and gas company’s stock valued at $4,394,000 after purchasing an additional 5,364 shares during the period. Vantage Financial Partners LLC acquired a new position in shares of Chevron during the 4th quarter worth approximately $279,000. Proficio Capital Partners LLC grew its holdings in Chevron by 59.5% during 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 buying an additional 2,182 shares during the last quarter. SPC Financial Inc. increased its position in Chevron by 16.4% during the fourth quarter. SPC Financial Inc. now owns 6,372 shares of the oil and gas company’s stock worth $923,000 after buying an additional 896 shares in the last quarter. Finally, LVZ Inc. acquired a new stake in shares of Chevron during the fourth quarter valued at $220,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, VP Jeff B. Gustavson sold 9,325 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the completion of the transaction, the vice president now owns 1,057 shares in the company, valued at $161,192.50. The trade was a 89.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.20% of the stock is owned by company insiders.

Chevron Price Performance

Shares of CVX stock opened at $151.99 on Wednesday. The firm has a fifty day moving average of $153.51 and a two-hundred day moving average of $151.61. The firm has a market cap of $267.59 billion, a P/E ratio of 15.64, a P/E/G ratio of 1.46 and a beta of 1.11. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a net margin of 8.71% and a return on equity of 11.44%. During the same period last year, the firm posted $3.45 EPS. As a group, research analysts anticipate that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be issued a $1.71 dividend. The ex-dividend date of this dividend is Friday, February 14th. This is a positive change from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a dividend yield of 4.50%. Chevron’s payout ratio is 70.37%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Citigroup raised Chevron from a “neutral” rating to a “buy” rating and increased their price target for the stock from $145.00 to $185.00 in a research note on Tuesday, November 26th. Truist Financial reduced their target price on Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a research report on Tuesday, February 4th. Wells Fargo & Company dropped their price objective on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Royal Bank of Canada restated an “outperform” rating and issued a $175.00 target price on shares of Chevron in a report on Monday, February 3rd. Finally, Barclays decreased their price target on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $174.13.

About Chevron

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.