Retirement Systems of Alabama Buys 6,077 Shares of Chevron Co. (NYSE:CVX)

Retirement Systems of Alabama increased its stake in Chevron Co. (NYSE:CVX) by 0.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,066,020 shares of the oil and gas company’s stock after buying an additional 6,077 shares during the period. Chevron accounts for 0.7% of Retirement Systems of Alabama’s portfolio, making the stock its 17th largest position. Retirement Systems of Alabama owned approximately 0.06% of Chevron worth $159,008,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. International Assets Investment Management LLC increased its stake in shares of Chevron by 15,548.2% in the 4th quarter. International Assets Investment Management LLC now owns 3,202,411 shares of the oil and gas company’s stock worth $4,776,720,000 after acquiring an additional 3,181,946 shares in the last quarter. Morgan Stanley lifted its holdings in shares of Chevron by 7.0% during the third quarter. Morgan Stanley now owns 34,166,899 shares of the oil and gas company’s stock valued at $5,761,223,000 after purchasing an additional 2,244,995 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC purchased a new position in shares of Chevron during the third quarter valued at approximately $348,789,000. Envestnet Asset Management Inc. boosted its position in shares of Chevron by 36.4% in the 3rd quarter. Envestnet Asset Management Inc. now owns 4,614,498 shares of the oil and gas company’s stock worth $778,097,000 after purchasing an additional 1,230,619 shares in the last quarter. Finally, California Public Employees Retirement System grew its stake in shares of Chevron by 28.3% in the 3rd quarter. California Public Employees Retirement System now owns 4,179,942 shares of the oil and gas company’s stock worth $704,822,000 after buying an additional 923,119 shares during the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on CVX shares. Wells Fargo & Company lifted their price objective on Chevron from $185.00 to $198.00 and gave the company an “overweight” rating in a research note on Thursday, April 4th. Scotiabank upgraded shares of Chevron from a “sector perform” rating to a “sector outperform” rating and upped their price target for the stock from $170.00 to $195.00 in a research note on Thursday, April 11th. Royal Bank of Canada increased their price objective on shares of Chevron from $185.00 to $190.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. Mizuho lifted their target price on shares of Chevron from $195.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Finally, Barclays began coverage on shares of Chevron in a report on Wednesday, April 10th. They set an “overweight” rating and a $203.00 price target on the stock. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $184.75.

Insider Buying and Selling

In related news, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total transaction of $448,252.00. Following the transaction, the vice president now owns 276 shares in the company, valued at approximately $44,184.84. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.18% of the stock is currently owned by insiders.

Chevron Stock Performance

CVX stock traded up $0.61 during trading on Friday, reaching $165.89. The stock had a trading volume of 9,736,350 shares, compared to its average volume of 7,082,480. Chevron Co. has a 52 week low of $139.62 and a 52 week high of $171.70. The firm has a market cap of $308.10 billion, a PE ratio of 15.26, a PEG ratio of 2.44 and a beta of 1.12. The company has a current ratio of 1.27, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. The stock’s 50 day moving average is $156.58 and its two-hundred day moving average is $151.73.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, topping the consensus estimate of $2.84 by $0.09. The firm had revenue of $48.72 billion during the quarter, compared to analyst estimates of $48.42 billion. Chevron had a return on equity of 15.24% and a net margin of 10.63%. Chevron’s revenue was down 4.1% on a year-over-year basis. During the same period in the prior year, the business posted $3.55 EPS. As a group, equities analysts anticipate that Chevron Co. will post 13.58 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 17th will be issued a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 3.93%. The ex-dividend date is Thursday, May 16th. Chevron’s dividend payout ratio is 59.98%.

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.