Chevron Co. (NYSE:CVX) Shares Acquired by Teacher Retirement System of Texas

Teacher Retirement System of Texas boosted its position in Chevron Co. (NYSE:CVX) by 157.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 529,656 shares of the oil and gas company’s stock after purchasing an additional 324,184 shares during the period. Teacher Retirement System of Texas’ holdings in Chevron were worth $76,715,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Life Planning Partners Inc purchased a new stake in shares of Chevron in the fourth quarter valued at approximately $25,000. IMG Wealth Management Inc. acquired a new stake in Chevron in the fourth quarter valued at $25,000. Legacy Investment Solutions LLC acquired a new stake in Chevron in the third quarter valued at $29,000. Darwin Wealth Management LLC purchased a new stake in shares of Chevron during the 3rd quarter worth $30,000. Finally, Fairway Wealth LLC grew its stake in shares of Chevron by 75.9% during the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock worth $30,000 after purchasing an additional 88 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Trading Up 2.0 %

Shares of CVX stock opened at $164.00 on Thursday. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11. The company has a market capitalization of $288.73 billion, a price-to-earnings ratio of 16.87, a PEG ratio of 1.46 and a beta of 1.08. The firm has a 50-day moving average price of $155.77 and a 200 day moving average price of $152.31. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a net margin of 8.71% and a return on equity of 11.44%. During the same quarter in the previous year, the company posted $3.45 EPS. Research analysts forecast that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were paid a $1.71 dividend. This is a positive change from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 4.17%. The ex-dividend date of this dividend was Friday, February 14th. Chevron’s dividend payout ratio is presently 70.37%.

Analyst Ratings Changes

Several analysts recently commented on CVX shares. Truist Financial reduced their price objective on shares of Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research note on Tuesday, February 4th. UBS Group reduced their price target on shares of Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a research report on Monday, February 3rd. Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and upped their price target for the stock from $145.00 to $185.00 in a report on Tuesday, November 26th. Barclays reduced their price objective on Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. Finally, Piper Sandler lowered their target price on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Chevron currently has an average rating of “Moderate Buy” and an average target price of $174.13.

Insider Buying and Selling

In other news, VP Jeff B. Gustavson sold 9,325 shares of the company’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the completion of the transaction, the vice president now owns 1,057 shares of the company’s stock, valued at $161,192.50. This represents a 89.82 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.20% of the stock is currently owned by company insiders.

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.