Louisiana State Employees Retirement System cut its position in shares of Chevron Corp. (NYSE:CVX) by 2.9% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 120,100 shares of the company’s stock after selling 3,600 shares during the period. Chevron Corp. accounts for approximately 0.7% of Louisiana State Employees Retirement System’s holdings, making the stock its 18th largest position. Louisiana State Employees Retirement System’s holdings in Chevron Corp. were worth $12,361,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. Kimelman & Baird LLC boosted its stake in shares of Chevron Corp. by 3.6% in the first quarter. Kimelman & Baird LLC now owns 75,079 shares of the company’s stock valued at $7,163,000 after buying an additional 2,620 shares during the period. Geode Capital Management LLC boosted its stake in shares of Chevron Corp. by 2.2% in the first quarter. Geode Capital Management LLC now owns 15,718,173 shares of the company’s stock valued at $1,496,560,000 after buying an additional 334,885 shares during the period. Simmons Bank acquired a new stake in shares of Chevron Corp. during the first quarter valued at about $3,022,000. Hancock Holding Co. boosted its stake in shares of Chevron Corp. by 21.2% in the first quarter. Hancock Holding Co. now owns 27,740 shares of the company’s stock valued at $2,646,000 after buying an additional 4,855 shares during the period. Finally, Thomaspartners Inc. boosted its stake in shares of Chevron Corp. by 5.8% in the first quarter. Thomaspartners Inc. now owns 1,653,697 shares of the company’s stock valued at $157,763,000 after buying an additional 90,811 shares during the period. 61.22% of the stock is currently owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Chevron Corp. (NYSE:CVX)

Chevron Corp. (NYSE:CVX) traded up 2.62% during midday trading on Wednesday, hitting $112.21. The stock had a trading volume of 7,488,004 shares. The company has a 50-day moving average price of $105.24 and a 200-day moving average price of $102.78. The company’s market cap is $211.83 billion. Chevron Corp. has a 12-month low of $75.33 and a 12-month high of $112.98.

Chevron Corp. (NYSE:CVX) last announced its earnings results on Friday, October 28th. The company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.39 by $0.29. The business had revenue of $30.14 billion for the quarter, compared to the consensus estimate of $29.71 billion. Chevron Corp. had a positive return on equity of 0.59% and a negative net margin of 1.34%. The company’s revenue was down 12.2% on a year-over-year basis. During the same period last year, the business posted $1.09 EPS. Equities analysts anticipate that Chevron Corp. will post $1.34 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, December 12th. Investors of record on Friday, November 18th will be issued a dividend of $1.08 per share. This is an increase from Chevron Corp.’s previous quarterly dividend of $1.07. This represents a $4.32 annualized dividend and a dividend yield of 3.95%. The ex-dividend date is Wednesday, November 16th. Chevron Corp.’s dividend payout ratio (DPR) is presently -540.00%.

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Several equities research analysts have issued reports on the stock. Vetr cut shares of Chevron Corp. from a “hold” rating to a “sell” rating and set a $106.05 target price on the stock. in a research note on Tuesday. Zacks Investment Research cut shares of Chevron Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, November 9th. Jefferies Group reissued a “buy” rating and set a $120.00 price target (up previously from $116.00) on shares of Chevron Corp. in a research report on Tuesday, November 1st. Morgan Stanley raised shares of Chevron Corp. from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $113.00 to $130.00 in a research report on Tuesday, November 1st. Finally, Exane BNP Paribas began coverage on shares of Chevron Corp. in a research report on Monday, October 10th. They set a “neutral” rating and a $102.00 price target on the stock. One research analyst has rated the stock with a sell rating, ten have given a hold rating and twenty have given a buy rating to the stock. Chevron Corp. currently has a consensus rating of “Buy” and an average target price of $108.42.

In related news, Director Linnet F. Deily sold 5,637 shares of the firm’s stock in a transaction dated Thursday, November 3rd. The stock was sold at an average price of $105.27, for a total transaction of $593,406.99. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Pierre R. Breber sold 10,000 shares of the firm’s stock in a transaction dated Thursday, November 17th. The shares were sold at an average price of $110.00, for a total value of $1,100,000.00. Following the sale, the insider now owns 28,911 shares in the company, valued at $3,180,210. The disclosure for this sale can be found here. Corporate insiders own 0.40% of the company’s stock.

About Chevron Corp.

Chevron Corporation (Chevron) manages its investments in subsidiaries and affiliates and provides administrative, financial, management and technology support to the United States and international subsidiaries that engage in integrated energy and chemicals operations. The Company operates through two business segments: Upstream and Downstream.

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