Louisiana State Employees Retirement System Sells 5,900 Shares of Chevron Co. (NYSE:CVX)

Louisiana State Employees Retirement System lessened its holdings in Chevron Co. (NYSE:CVX) by 6.2% in the fourth quarter, Holdings Channel reports. The firm owned 89,900 shares of the oil and gas company’s stock after selling 5,900 shares during the period. Louisiana State Employees Retirement System’s holdings in Chevron were worth $13,021,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. ORG Wealth Partners LLC bought a new position in shares of Chevron during the 3rd quarter worth $182,000. Wedge Capital Management L L P NC raised its position in shares of Chevron by 4.3% in the third quarter. Wedge Capital Management L L P NC now owns 2,887 shares of the oil and gas company’s stock valued at $425,000 after purchasing an additional 120 shares during the period. CX Institutional grew its stake in Chevron by 97.0% in the 3rd quarter. CX Institutional now owns 46,181 shares of the oil and gas company’s stock valued at $6,801,000 after buying an additional 22,735 shares in the last quarter. Wesbanco Bank Inc. grew its stake in Chevron by 1.8% in the 3rd quarter. Wesbanco Bank Inc. now owns 228,634 shares of the oil and gas company’s stock valued at $33,671,000 after buying an additional 4,004 shares in the last quarter. Finally, Iams Wealth Management LLC raised its holdings in Chevron by 10.5% during the 3rd quarter. Iams Wealth Management LLC now owns 13,294 shares of the oil and gas company’s stock valued at $1,958,000 after acquiring an additional 1,258 shares during the period. 72.42% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, VP Jeff B. Gustavson sold 9,325 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the transaction, the vice president now directly owns 1,057 shares of the company’s stock, valued at approximately $161,192.50. The trade was a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael K. Wirth sold 164,600 shares of the firm’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total value of $26,357,398.00. Following the completion of the sale, the chief executive officer now directly owns 4,280 shares of the company’s stock, valued at $685,356.40. The trade was a 97.47 % decrease in their position. The disclosure for this sale can be found here. 0.20% of the stock is owned by insiders.

Chevron Stock Performance

Chevron stock opened at $157.43 on Wednesday. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The stock has a market cap of $282.91 billion, a P/E ratio of 16.20, a price-to-earnings-growth ratio of 1.39 and a beta of 1.11. The firm’s fifty day moving average price is $152.08 and its 200-day moving average price is $150.81.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share for the quarter, missing analysts’ consensus estimates 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 period in the previous year, the company posted $3.45 EPS. On average, equities research analysts expect that Chevron Co. will post 10.84 earnings per share for the current fiscal year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be given a $1.71 dividend. This is an increase from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date is Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a yield of 4.34%. Chevron’s payout ratio is presently 67.08%.

Wall Street Analyst Weigh In

CVX has been the subject of a number of analyst reports. Wells Fargo & Company cut their price target on Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Barclays cut their target price on Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. Piper Sandler decreased their price target on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. DZ Bank raised shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target on the stock in a report on Tuesday, November 5th. Finally, Bank of America started coverage on shares of Chevron in a research note on Thursday, October 17th. They set a “buy” rating and a $168.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Chevron has a consensus rating of “Moderate Buy” and an average price target of $174.13.

Chevron 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.