New Mexico Educational Retirement Board Has $15.48 Million Stake in Chevron Corporation $CVX

New Mexico Educational Retirement Board grew its stake in shares of Chevron Corporation (NYSE:CVX) by 6.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 93,392 shares of the oil and gas company’s stock after buying an additional 5,800 shares during the period. New Mexico Educational Retirement Board’s holdings in Chevron were worth $15,481,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Blue Capital Inc. purchased a new stake in shares of Chevron during the 2nd quarter worth $786,000. OneAscent Wealth Management LLC acquired a new stake in shares of Chevron in the 2nd quarter valued at about $973,000. Global Retirement Partners LLC purchased a new position in shares of Chevron during the second quarter worth approximately $14,276,000. Indivisible Partners acquired a new stake in shares of Chevron during the fourth quarter worth about $1,923,000. Finally, Janney Montgomery Scott LLC lifted its position in Chevron by 6.8% during the 1st quarter. Janney Montgomery Scott LLC now owns 1,251,102 shares of the oil and gas company’s stock worth $258,853,000 after acquiring an additional 79,439 shares during the period. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron is reportedly nearing a deal to migrate all of its Venezuelan joint ventures into a new energy framework, potentially allowing greater operational control and key oilfield expansions. The company already accounts for roughly one-quarter of Venezuela’s oil production. Reuters: Chevron to complete deal in Venezuela to migrate, expand oil projects
• Positive Sentiment: Reports indicate Chevron and oil-services company Halliburton are close to agreements to invest billions of dollars in Venezuelan fields. For Chevron, the opportunity could create a long-term production-growth platform and strengthen its position if Venezuela moves further away from OPEC restrictions. Wall Street Journal: Chevron, Other U.S. Firms Near Deal to Invest Billions in Venezuelan Oil Fields
• Neutral Sentiment: Analyst-oriented coverage is comparing Chevron’s performance with TotalEnergies, while other reports highlight Chevron’s investments in nuclear-fusion technology. Fusion could eventually diversify the company beyond hydrocarbons, but the projects remain experimental and are unlikely to materially affect near-term earnings. Yahoo Finance: What Does Chevron Want From Its Nuclear Fusion Push?
• Negative Sentiment: Venezuelan opposition groups have criticized reports that U.S. companies could receive a large stake in the country’s energy industry. Political resistance, sanctions or regulatory uncertainty could delay the agreement, raise investment costs or limit the expected benefits. The Guardian: Venezuelan opposition reacts to potential U.S. oil stake
• Negative Sentiment: Dividend-focused coverage notes that Chevron’s payout remains exposed to commodity-price cycles. Although the dividend is supported by the company’s scale and balance sheet, weaker oil prices or heavy Venezuelan investment requirements could pressure future cash-flow flexibility. 247WallSt: Chevron or PepsiCo: Whose Dividend Is Standing on Thinner Ice?

Chevron Trading Up 1.1%

Chevron stock opened at $202.04 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.98 and a current ratio of 1.25. The firm’s 50-day moving average is $187.44 and its 200-day moving average is $188.85. Chevron Corporation has a 1 year low of $146.49 and a 1 year high of $214.71. The company has a market cap of $399.18 billion, a P/E ratio of 19.37, a PEG ratio of 0.60 and a beta of 0.49.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, July 31st. The oil and gas company reported $6.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.55 by $0.51. The company had revenue of $67.20 billion during the quarter, compared to the consensus estimate of $62.72 billion. Chevron had a net margin of 9.57% and a return on equity of 11.09%. The company’s revenue for the quarter was up 57.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.77 earnings per share. On average, equities analysts expect that Chevron Corporation will post 16.17 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be issued a $1.78 dividend. This represents a $7.12 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend is Wednesday, August 19th. Chevron’s dividend payout ratio is 68.26%.

Analyst Ratings Changes

Several equities analysts have issued reports on CVX shares. Mizuho set a $224.00 target price on Chevron in a research report on Monday, August 3rd. Weiss Ratings upgraded Chevron from a “hold (c)” rating to a “buy (b)” rating in a report on Tuesday, August 11th. The Goldman Sachs Group reiterated a “buy” rating and set a $216.00 price target on shares of Chevron in a report on Wednesday, May 6th. Zacks Research downgraded Chevron from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 8th. Finally, Barclays cut their price target on shares of Chevron from $216.00 to $208.00 and set an “equal weight” rating on the stock in a research note on Monday, August 17th. Twenty analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $207.48.

Insiders Place Their Bets

In other news, insider Andrew Benjamin Walz sold 16,800 shares of the stock in a transaction on Monday, August 17th. The stock was sold at an average price of $201.06, for a total value of $3,377,808.00. Following the completion of the transaction, the insider owned 14 shares of the company’s stock, valued at approximately $2,814.84. This represents a 99.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider R. Hewitt Pate sold 2,470 shares of Chevron stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $205.11, for a total transaction of $506,621.70. Following the sale, the insider owned 10,794 shares in the company, valued at approximately $2,213,957.34. This represents a 18.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 1,152,582 shares of company stock valued at $225,853,661 in the last quarter. 0.56% of the stock is owned by insiders.

Chevron Profile

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.