Chevron Corporation (NYSE:CVX) Position Reduced by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D trimmed its stake in shares of Chevron Corporation (NYSE:CVX) by 10.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 577,936 shares of the oil and gas company’s stock after selling 65,789 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Chevron were worth $96,683,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in CVX. GQG Partners LLC bought a new position in shares of Chevron in the 1st quarter worth about $1,466,751,000. Nuveen LLC bought a new position in shares of Chevron in the 1st quarter worth about $1,362,232,000. GAMMA Investing LLC lifted its position in shares of Chevron by 21,191.5% in the 1st quarter. GAMMA Investing LLC now owns 5,408,248 shares of the oil and gas company’s stock worth $904,746,000 after buying an additional 5,382,847 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Chevron by 4.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 33,430,030 shares of the oil and gas company’s stock worth $5,592,263,000 after buying an additional 1,574,464 shares during the last quarter. Finally, Capital World Investors lifted its position in shares of Chevron by 11.4% in the 4th quarter. Capital World Investors now owns 14,079,656 shares of the oil and gas company’s stock worth $2,039,288,000 after buying an additional 1,440,808 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Mizuho reduced their price target on shares of Chevron from $188.00 to $186.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 13th. Raymond James Financial reiterated an “outperform” rating on shares of Chevron in a research report on Friday, August 1st. Barclays reiterated an “equal weight” rating on shares of Chevron in a research report on Tuesday, July 15th. DZ Bank downgraded shares of Chevron from a “buy” rating to a “sell” rating and set a $130.00 price objective on the stock. in a research report on Tuesday, May 6th. Finally, Evercore ISI reiterated an “outperform” rating and issued a $180.00 price objective on shares of Chevron in a research report on Thursday, July 31st. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $164.11.

Chevron Stock Performance

Shares of CVX opened at $155.45 on Friday. The firm’s 50 day moving average is $149.80 and its 200-day moving average is $148.59. The stock has a market capitalization of $268.62 billion, a P/E ratio of 20.01, a P/E/G ratio of 2.34 and a beta of 0.87. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.00 and a quick ratio of 0.74. Chevron Corporation has a 12-month low of $132.04 and a 12-month high of $168.96.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.19. The company had revenue of $44.82 billion for the quarter, compared to analysts’ expectations of $44.59 billion. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The business’s revenue was down 12.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.55 EPS. Equities research analysts anticipate that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th will be given a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.4%. The ex-dividend date of this dividend is Tuesday, August 19th. Chevron’s dividend payout ratio (DPR) is 88.03%.

Chevron Company Profile

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.