Alaska Permanent Fund Corp Sells 627 Shares of Chevron Co. (NYSE:CVX)

Alaska Permanent Fund Corp trimmed its holdings in Chevron Co. (NYSE:CVX) by 1.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 54,829 shares of the oil and gas company’s stock after selling 627 shares during the quarter. Alaska Permanent Fund Corp’s holdings in Chevron were worth $8,178,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in CVX. Wedge Capital Management L L P NC increased its holdings in Chevron by 4.6% during the third quarter. Wedge Capital Management L L P NC now owns 3,088 shares of the oil and gas company’s stock worth $521,000 after buying an additional 135 shares during the last quarter. PSI Advisors LLC increased its holdings in Chevron by 5.7% during the third quarter. PSI Advisors LLC now owns 11,050 shares of the oil and gas company’s stock worth $1,863,000 after buying an additional 591 shares during the last quarter. Cornell Pochily Investment Advisors Inc. increased its holdings in Chevron by 1.5% during the third quarter. Cornell Pochily Investment Advisors Inc. now owns 11,867 shares of the oil and gas company’s stock worth $2,001,000 after buying an additional 174 shares during the last quarter. Cliftonlarsonallen Wealth Advisors LLC increased its holdings in Chevron by 0.8% during the third quarter. Cliftonlarsonallen Wealth Advisors LLC now owns 11,687 shares of the oil and gas company’s stock worth $1,971,000 after buying an additional 89 shares during the last quarter. Finally, City Holding Co. increased its holdings in Chevron by 0.5% during the third quarter. City Holding Co. now owns 40,822 shares of the oil and gas company’s stock worth $6,883,000 after buying an additional 206 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Trading Up 0.3 %

NYSE:CVX traded up $0.48 during midday trading on Thursday, reaching $164.05. 766,810 shares of the stock traded hands, compared to its average volume of 8,347,390. The company has a fifty day moving average of $156.14 and a 200 day moving average of $151.75. Chevron Co. has a 12 month low of $139.62 and a 12 month high of $171.70. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.27. The stock has a market capitalization of $304.69 billion, a P/E ratio of 14.41, a PEG ratio of 2.40 and a beta of 1.12.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $3.45 EPS for the quarter, topping the consensus estimate of $3.19 by $0.26. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The business had revenue of $47.18 billion during the quarter, compared to analyst estimates of $50.93 billion. During the same period in the prior year, the business earned $4.09 EPS. The company’s revenue for the quarter was down 16.5% on a year-over-year basis. On average, research analysts predict that Chevron Co. will post 13.58 EPS for the current year.

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Friday, February 16th were issued a $1.63 dividend. The ex-dividend date was Thursday, February 15th. This is a positive change from Chevron’s previous quarterly dividend of $1.51. This represents a $6.52 annualized dividend and a yield of 3.97%. Chevron’s dividend payout ratio is 57.39%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CVX. Wells Fargo & Company lifted their target price on shares of Chevron from $185.00 to $198.00 and gave the stock an “overweight” rating in a research note on Thursday, April 4th. DZ Bank downgraded shares of Chevron from a “buy” rating to a “hold” rating and set a $160.00 target price for the company. in a research note on Tuesday, February 6th. Mizuho raised their price objective on shares of Chevron from $195.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. TD Cowen lowered shares of Chevron from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $170.00 to $150.00 in a research report on Tuesday, January 23rd. Finally, Piper Sandler raised their price objective on shares of Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a research report on Thursday, April 18th. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, Chevron has an average rating of “Moderate Buy” and an average target price of $184.75.

Insiders Place Their Bets

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the company’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total value of $448,252.00. Following the completion of the transaction, the vice president now directly owns 276 shares in the company, valued at approximately $44,184.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.18% of the company’s stock.

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.