Chevron Corporation $CVX Shares Bought by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund lifted its stake in Chevron Corporation (NYSE:CVX) by 2.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 245,849 shares of the oil and gas company’s stock after buying an additional 6,458 shares during the period. Illinois Municipal Retirement Fund’s holdings in Chevron were worth $37,470,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of CVX. Dakota Wealth Management increased its stake in Chevron by 14.9% during the fourth quarter. Dakota Wealth Management now owns 83,265 shares of the oil and gas company’s stock valued at $12,690,000 after purchasing an additional 10,822 shares during the last quarter. Brooklyn FI LLC acquired a new position in shares of Chevron in the 3rd quarter valued at about $431,000. Clear Trail Advisors LLC acquired a new position in shares of Chevron in the 4th quarter valued at about $10,167,000. Finemark National Bank & Trust grew its position in shares of Chevron by 40.3% during the 3rd quarter. Finemark National Bank & Trust now owns 56,535 shares of the oil and gas company’s stock valued at $8,779,000 after buying an additional 16,243 shares during the last quarter. Finally, Curtis Advisory Group LLC acquired a new stake in Chevron during the fourth quarter worth about $1,381,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insiders Place Their Bets

In related news, insider R. Hewitt Pate sold 40,200 shares of Chevron stock in a transaction dated Monday, March 30th. The shares were sold at an average price of $213.30, for a total transaction of $8,574,660.00. Following the sale, the insider directly owned 8,638 shares in the company, valued at $1,842,485.40. The trade was a 82.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John B. Hess sold 380,000 shares of the company’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $193.20, for a total transaction of $73,416,000.00. Following the completion of the sale, the director directly owned 278,045 shares of the company’s stock, valued at $53,718,294. The trade was a 57.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 615,200 shares of company stock worth $118,022,760 over the last three months. Corporate insiders own 0.56% of the company’s stock.

Chevron Price Performance

Shares of NYSE:CVX opened at $189.89 on Thursday. The firm’s 50 day moving average is $189.38 and its two-hundred day moving average is $177.75. The firm has a market capitalization of $378.19 billion, a P/E ratio of 32.91, a PEG ratio of 0.62 and a beta of 0.48. The company has a current ratio of 1.09, a quick ratio of 0.84 and a debt-to-equity ratio of 0.21. Chevron Corporation has a 52 week low of $142.40 and a 52 week high of $214.71.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.41. Chevron had a return on equity of 6.90% and a net margin of 5.79%.The business had revenue of $47.56 billion during the quarter, compared to analyst estimates of $51.86 billion. During the same period in the prior year, the company posted $2.18 EPS. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. Analysts anticipate that Chevron Corporation will post 15.74 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 19th were paid a $1.78 dividend. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $7.12 annualized dividend and a dividend yield of 3.7%. Chevron’s dividend payout ratio is presently 123.40%.

Analysts Set New Price Targets

CVX has been the topic of a number of recent research reports. Royal Bank Of Canada reissued an “outperform” rating and issued a $220.00 target price on shares of Chevron in a report on Tuesday, May 5th. Zacks Research cut Chevron from a “strong-buy” rating to a “hold” rating in a research report on Monday. Morgan Stanley raised their price target on Chevron from $212.00 to $214.00 and gave the stock an “overweight” rating in a report on Friday, May 22nd. HSBC upgraded Chevron from a “hold” rating to a “buy” rating and set a $215.00 price objective for the company in a research note on Friday, March 20th. Finally, BNP Paribas Exane raised Chevron from a “neutral” rating to an “outperform” rating and set a $174.00 target price on the stock in a research report on Friday, April 17th. Eighteen equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $205.70.

Key Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron was highlighted as one of the top oil stocks to buy as energy investors look for resilient names, with articles emphasizing its defensive cash flows and income appeal. Article Title
• Positive Sentiment: Market commentary on Chevron’s Guyana assets pointed to a combined $7.6 billion profit for ExxonMobil and Chevron last year, reinforcing the value of its low-cost production base amid geopolitical tensions. Article Title
• Positive Sentiment: Chevron was also featured in a bullish technical forecast saying momentum is improving and buyers may be regaining control as the stock approaches a breakout level. Article Title
• Positive Sentiment: Reports that Chevron is advancing a major shale project in Argentina’s Vaca Muerta basin and moving closer to approval for a $13.8 billion investment could support future production growth. Article Title
• Neutral Sentiment: Chevron continues to attract attention as a dividend stock for retirement portfolios, which supports the investment case but does not represent a new catalyst. Article Title
• Negative Sentiment: Zacks Research downgraded Chevron from strong-buy to hold, which could temper enthusiasm despite the stock’s otherwise constructive news flow. Article Title

Chevron Profile

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.