State of Tennessee Treasury Department Sells 65,443 Shares of Chevron Co. (NYSE:CVX)

State of Tennessee Treasury Department cut its position in Chevron Co. (NYSE:CVX) by 8.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 668,677 shares of the oil and gas company’s stock after selling 65,443 shares during the quarter. State of Tennessee Treasury Department’s holdings in Chevron were worth $99,740,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in CVX. WealthPlan Investment Management LLC increased its holdings in Chevron by 2,493.2% in the 3rd quarter. WealthPlan Investment Management LLC now owns 53,550 shares of the oil and gas company’s stock worth $9,030,000 after buying an additional 51,485 shares during the period. Homestead Advisers Corp raised its position in Chevron by 1.6% during the 3rd quarter. Homestead Advisers Corp now owns 636,612 shares of the oil and gas company’s stock worth $107,346,000 after buying an additional 9,960 shares during the last quarter. Managed Asset Portfolios LLC raised its position in Chevron by 3.0% during the 3rd quarter. Managed Asset Portfolios LLC now owns 67,016 shares of the oil and gas company’s stock worth $11,300,000 after buying an additional 1,939 shares during the last quarter. Greenleaf Trust raised its position in Chevron by 3.4% during the 3rd quarter. Greenleaf Trust now owns 55,552 shares of the oil and gas company’s stock worth $9,367,000 after buying an additional 1,812 shares during the last quarter. Finally, Kensington Investment Counsel LLC raised its position in Chevron by 13.6% during the 3rd quarter. Kensington Investment Counsel LLC now owns 2,163 shares of the oil and gas company’s stock worth $365,000 after buying an additional 259 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Chevron

In other Chevron news, Director Enrique Hernandez, Jr. sold 2,549 shares of Chevron stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $165.24, for a total value of $421,196.76. Following the completion of the transaction, the director now directly owns 27,725 shares of the company’s stock, valued at approximately $4,581,279. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Enrique Hernandez, Jr. sold 2,549 shares of the business’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $165.24, for a total transaction of $421,196.76. Following the completion of the transaction, the director now directly owns 27,725 shares of the company’s stock, valued at $4,581,279. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Enrique Hernandez, Jr. sold 5,098 shares of the business’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $163.50, for a total value of $833,523.00. Following the transaction, the director now directly owns 2,549 shares of the company’s stock, valued at $416,761.50. The disclosure for this sale can be found here. Insiders sold a total of 19,546 shares of company stock valued at $3,176,223 in the last three months. 0.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CVX. Barclays began coverage on shares of Chevron in a research note on Wednesday, April 10th. They set an “overweight” rating and a $203.00 price objective on the stock. Truist Financial raised their price objective on shares of Chevron from $156.00 to $166.00 and gave the stock a “hold” rating in a research note on Friday, May 10th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Chevron in a research note on Monday, April 1st. HSBC raised their price objective on shares of Chevron from $175.00 to $178.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th. Finally, Scotiabank raised shares of Chevron from a “sector perform” rating to a “sector outperform” rating and raised their price objective for the stock from $170.00 to $195.00 in a research note on Thursday, April 11th. Five research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $186.95.

Chevron Trading Up 0.1 %

CVX traded up $0.15 on Friday, hitting $156.08. The company had a trading volume of 5,887,651 shares, compared to its average volume of 6,055,743. The firm has a market cap of $287.65 billion, a P/E ratio of 14.36, a PEG ratio of 2.30 and a beta of 1.12. Chevron Co. has a 1 year low of $139.62 and a 1 year high of $171.70. The company’s fifty day moving average price is $160.52 and its 200 day moving average price is $153.51. The company has a current ratio of 1.23, a quick ratio of 0.93 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last released its earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, beating the consensus estimate of $2.84 by $0.09. The company had revenue of $48.72 billion during the quarter, compared to the consensus estimate of $48.42 billion. Chevron had a return on equity of 14.40% and a net margin of 10.21%. Chevron’s revenue was down 4.1% compared to the same quarter last year. During the same period in the previous year, the company posted $3.55 EPS. As a group, equities analysts expect that Chevron Co. will post 13.45 earnings per share for the current year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 17th will be given a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 4.18%. The ex-dividend date of this dividend is Thursday, May 16th. Chevron’s dividend payout ratio is currently 59.98%.

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.