Chevron Co. (CVX) Shares Sold by Public Employees Retirement Association of Colorado
Public Employees Retirement Association of Colorado cut its stake in Chevron Co. (NYSE:CVX) by 1.2% in the 3rd quarter, HoldingsChannel reports. The firm owned 1,567,159 shares of the oil and gas company’s stock after selling 18,523 shares during the period. Chevron makes up about 1.3% of Public Employees Retirement Association of Colorado’s portfolio, making the stock its 9th biggest position. Public Employees Retirement Association of Colorado’s holdings in Chevron were worth $184,141,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Pathstone Family Office LLC grew its position in shares of Chevron by 2.5% in the 2nd quarter. Pathstone Family Office LLC now owns 813 shares of the oil and gas company’s stock worth $2,170,000 after buying an additional 20 shares during the period. Shine Investment Advisory Services Inc. purchased a new stake in shares of Chevron in the 2nd quarter worth about $106,000. Winfield Associates Inc. grew its position in shares of Chevron by 5.1% in the 2nd quarter. Winfield Associates Inc. now owns 1,301 shares of the oil and gas company’s stock worth $136,000 after buying an additional 63 shares during the period. Accurate Investment Solutions Inc. grew its position in shares of Chevron by 59.1% in the 3rd quarter. Accurate Investment Solutions Inc. now owns 1,352 shares of the oil and gas company’s stock worth $159,000 after buying an additional 502 shares during the period. Finally, Daiwa SB Investments Ltd. grew its position in shares of Chevron by 438.5% in the 2nd quarter. Daiwa SB Investments Ltd. now owns 1,400 shares of the oil and gas company’s stock worth $146,000 after buying an additional 1,140 shares during the period. Institutional investors and hedge funds own 63.80% of the company’s stock.
Shares of Chevron Co. (NYSE:CVX) opened at $127.90 on Monday. Chevron Co. has a 1 year low of $102.55 and a 1 year high of $128.94. The company has a market cap of $242,930.00, a PE ratio of 37.29, a P/E/G ratio of 3.00 and a beta of 1.21. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.84 and a current ratio of 1.04.
Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, October 27th. The oil and gas company reported $1.03 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.99 by $0.04. Chevron had a net margin of 5.83% and a return on equity of 5.35%. The company had revenue of $36.21 billion for the quarter, compared to the consensus estimate of $34.06 billion. During the same period in the prior year, the firm posted $0.68 EPS. Chevron’s revenue for the quarter was up 20.1% on a year-over-year basis. equities analysts predict that Chevron Co. will post 4.35 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, December 11th. Investors of record on Friday, November 17th were given a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a yield of 3.38%. The ex-dividend date was Thursday, November 16th. Chevron’s dividend payout ratio (DPR) is 125.95%.
CVX has been the topic of a number of recent research reports. Jefferies Group reaffirmed a “buy” rating and issued a $137.00 target price (up from $113.54) on shares of Chevron in a research report on Monday, October 30th. Zacks Investment Research raised shares of Chevron from a “hold” rating to a “buy” rating and set a $131.00 target price on the stock in a research report on Friday, November 10th. Citigroup upped their target price on shares of Chevron from $118.00 to $128.00 and gave the stock a “buy” rating in a research report on Monday, October 30th. Goldman Sachs Group reaffirmed a “buy” rating and issued a $123.00 target price (up from $118.00) on shares of Chevron in a research report on Tuesday, September 19th. Finally, Wolfe Research raised shares of Chevron from a “market perform” rating to an “outperform” rating in a research report on Monday, October 16th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $125.15.
In related news, Vice Chairman Michael K. Wirth sold 1,229 shares of the stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $118.00, for a total transaction of $145,022.00. Following the sale, the insider now directly owns 1,229 shares of the company’s stock, valued at approximately $145,022. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Patricia E. Yarrington sold 13,143 shares of the company’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $115.01, for a total transaction of $1,511,576.43. Following the transaction, the chief financial officer now owns 17,981 shares in the company, valued at approximately $2,067,994.81. The disclosure for this sale can be found here. Insiders have sold a total of 314,000 shares of company stock worth $36,540,822 over the last three months. 0.38% of the stock is currently owned by insiders.
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Chevron Corporation (Chevron) manages its investments in subsidiaries and affiliates, and provides administrative, financial, management and technology support to the United States and international subsidiaries that engage in integrated energy and chemicals operations. The Company operates through two business segments: Upstream and Downstream.
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