Chevron Corporation $CVX Shares Sold by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lowered its stake in shares of Chevron Corporation (NYSE:CVX) by 0.8% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 436,655 shares of the oil and gas company’s stock after selling 3,600 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Chevron were worth $90,344,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in CVX. Midwest Capital Advisors LLC purchased a new position in shares of Chevron in the 1st quarter valued at about $25,000. Phillip James Consulting Co. acquired a new position in Chevron in the 4th quarter valued at $26,000. Core Wealth Advisors LLC purchased a new position in shares of Chevron in the fourth quarter worth about $26,000. Karpus Management Inc. purchased a new position in Chevron in the 4th quarter worth approximately $27,000. Finally, Basso Capital Management L.P. purchased a new position in Chevron during the fourth quarter worth approximately $27,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Weiss Ratings downgraded shares of Chevron from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, June 2nd. Scotiabank boosted their target price on Chevron from $168.00 to $187.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 22nd. TD Cowen increased their target price on Chevron from $204.00 to $205.00 and gave the stock a “hold” rating in a research note on Friday, May 8th. Wells Fargo & Company increased their target price on shares of Chevron from $204.00 to $222.00 and gave the stock an “overweight” rating in a report on Thursday, April 9th. Finally, Sanford C. Bernstein cut their price target on Chevron from $216.00 to $204.00 and set a “market perform” rating on the stock in a report on Monday, May 11th. Nineteen research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $206.83.

Chevron Stock Up 1.3%

CVX traded up $2.24 on Friday, reaching $176.29. The company’s stock had a trading volume of 5,984,338 shares, compared to its average volume of 9,284,713. The company has a quick ratio of 0.84, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. The stock has a 50 day moving average of $181.92 and a two-hundred day moving average of $181.29. The company has a market capitalization of $351.10 billion, a price-to-earnings ratio of 30.55, a P/E/G ratio of 0.60 and a beta of 0.50. Chevron Corporation has a fifty-two week low of $146.49 and a fifty-two week high of $214.71.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.41 EPS for the quarter, topping the consensus estimate of $1.00 by $0.41. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The firm had revenue of $47.56 billion for the quarter, compared to analyst estimates of $51.86 billion. During the same period last year, the business earned $2.18 EPS. Chevron’s revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, analysts forecast that Chevron Corporation will post 15.28 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 19th were issued a $1.78 dividend. This represents a $7.12 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend was Tuesday, May 19th. Chevron’s payout ratio is presently 123.40%.

Insider Buying and Selling

In other Chevron news, Director John B. Hess sold 380,000 shares of Chevron stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $193.20, for a total value of $73,416,000.00. Following the transaction, the director directly owned 278,045 shares in the company, valued at approximately $53,718,294. The trade was a 57.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.56% of the company’s stock.

Chevron News Roundup

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Rising Middle East tensions are pushing crude higher, which can improve Chevron’s upstream profits and make the stock look more attractive as a geopolitical hedge. With Iran Tensions Heating Up Again, Chevron Stock Looks Enticing
• Positive Sentiment: Bullish commentary from Bank of America and other analysts suggests Chevron is well positioned to benefit if Iran-related supply disruptions keep oil prices elevated. CVX Stock Has A New Bull Case
• Positive Sentiment: Chevron announced a five-year gas supply deal with Australia’s Alinta Energy, adding a stable long-term sales stream and reinforcing its gas business. Chevron Australia signs five-year gas supply agreement with Alinta Energy
• Positive Sentiment: Chevron also expanded its technology/licensing efforts and its Microsoft power partnership, which could support long-term growth beyond oil and gas pricing. Can Chevron’s Microsoft Partnership Power the Next Leg of Growth?
• Neutral Sentiment: UBS reiterated a Buy rating, which may help sentiment but does not by itself change Chevron’s fundamentals. UBS Keeps Their Buy Rating on Chevron (CVX)
• Negative Sentiment: New U.S. Russia sanctions proposals could tighten global energy trade flows and add policy uncertainty, even if they may also support oil prices. Bipartisan Senators Reach Agreement With Trump Administration to Advance New Russia Sanctions Bill

About Chevron

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.