Chevron Co. (NYSE:CVX) Shares Sold by Alaska Permanent Fund Corp

Alaska Permanent Fund Corp lessened its stake in shares of Chevron Co. (NYSE:CVX) by 1.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm 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 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Picton Mahoney Asset Management bought a new position in shares of Chevron during the 3rd quarter valued at $26,000. Valley Forge Investment Consultants Inc. ADV raised its stake in shares of Chevron by 80.0% in the third quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock worth $30,000 after acquiring an additional 80 shares during the last quarter. Valued Wealth Advisors LLC acquired a new position in shares of Chevron in the fourth quarter valued at approximately $33,000. Legacy Financial Group LLC acquired a new position in Chevron during the third quarter worth $43,000. Finally, Roble Belko & Company Inc boosted its holdings in Chevron by 77.3% during the fourth quarter. Roble Belko & Company Inc now owns 344 shares of the oil and gas company’s stock worth $51,000 after purchasing an additional 150 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. The Goldman Sachs Group restated a “buy” rating on shares of Chevron in a report on Monday, April 1st. TD Cowen lowered shares of Chevron from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $170.00 to $150.00 in a research report on Tuesday, January 23rd. Mizuho raised their price target on shares of Chevron from $195.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. Truist Financial dropped their price objective on shares of Chevron from $168.00 to $156.00 and set a “hold” rating for the company in a report on Friday, April 5th. Finally, Royal Bank of Canada lifted their price objective on shares of Chevron from $185.00 to $190.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $184.75.

Chevron Trading Up 0.3 %

Chevron stock traded up $0.48 during trading on Thursday, reaching $164.05. 766,810 shares of the company were exchanged, compared to its average volume of 8,347,390. Chevron Co. has a 52-week low of $139.62 and a 52-week high of $171.70. The company 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. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.27 and a quick ratio of 1.01. The stock’s 50 day simple moving average is $156.14 and its two-hundred day simple moving average is $151.75.

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

Chevron Increases Dividend

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

Insider Activity

In other news, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total transaction of $448,252.00. Following the completion of the transaction, the vice president now directly owns 276 shares of the company’s stock, valued at approximately $44,184.84. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.18% of the company’s stock.

About Chevron

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.