Illinois Municipal Retirement Fund Purchases 31,001 Shares of Chevron Co. (NYSE:CVX)

Illinois Municipal Retirement Fund increased its position in Chevron Co. (NYSE:CVX) by 22.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 167,687 shares of the oil and gas company’s stock after purchasing an additional 31,001 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Chevron were worth $24,288,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Avalon Capital Management grew its stake in Chevron by 28.3% in the fourth quarter. Avalon Capital Management now owns 3,170 shares of the oil and gas company’s stock worth $459,000 after purchasing an additional 700 shares in the last quarter. Vaughan David Investments LLC IL grew its stake in Chevron by 1.2% in the fourth quarter. Vaughan David Investments LLC IL now owns 325,779 shares of the oil and gas company’s stock worth $47,186,000 after purchasing an additional 3,796 shares in the last quarter. Processus Wealth & Capital Management LLC grew its stake in Chevron by 0.9% in the fourth quarter. Processus Wealth & Capital Management LLC now owns 8,804 shares of the oil and gas company’s stock worth $1,275,000 after purchasing an additional 77 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Chevron by 17.3% in the fourth quarter. Bank of New York Mellon Corp now owns 16,496,687 shares of the oil and gas company’s stock worth $2,389,380,000 after purchasing an additional 2,432,756 shares in the last quarter. Finally, Acorn Wealth Advisors LLC boosted its position in Chevron by 3.4% during the 4th quarter. Acorn Wealth Advisors LLC now owns 2,092 shares of the oil and gas company’s stock valued at $303,000 after acquiring an additional 69 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Insider Buying and Selling

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the 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 completion of the sale, the vice president now directly owns 1,057 shares of the company’s stock, valued at approximately $161,192.50. This trade represents a 89.82 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.20% of the stock is currently owned by company insiders.

Chevron Stock Up 0.6 %

CVX stock opened at $157.85 on Tuesday. The firm has a market cap of $283.68 billion, a PE ratio of 16.24, a PEG ratio of 1.46 and a beta of 1.11. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. Chevron Co. has a one year low of $135.37 and a one year high of $167.11. The firm’s 50 day moving average price is $152.14 and its 200-day moving average price is $151.20.

Chevron (NYSE:CVX) last announced its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) 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 business posted $3.45 earnings per share. On average, equities research analysts anticipate that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be paid a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 4.33%. The ex-dividend date of this dividend is Friday, February 14th. This is an increase from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio (DPR) is currently 70.37%.

Analyst Ratings Changes

Several brokerages have issued reports on CVX. Raymond James dropped their target price on Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a research report on Monday, February 3rd. Piper Sandler dropped their target price on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $175.00 target price on shares of Chevron in a research report on Monday, February 3rd. Barclays dropped their target price on Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. Finally, Truist Financial lowered their price objective on Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research report on Tuesday, February 4th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, Chevron presently has an average rating of “Moderate Buy” and a consensus 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.