Maryland State Retirement & Pension System Sells 6,265 Shares of Chevron Co. (NYSE:CVX)

Maryland State Retirement & Pension System reduced its position in shares of Chevron Co. (NYSE:CVX) by 6.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 92,907 shares of the oil and gas company’s stock after selling 6,265 shares during the period. Maryland State Retirement & Pension System’s holdings in Chevron were worth $13,457,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Compass Ion Advisors LLC boosted its holdings in shares of Chevron by 3.2% during the 4th quarter. Compass Ion Advisors LLC now owns 6,121 shares of the oil and gas company’s stock worth $887,000 after buying an additional 190 shares during the period. Enhancing Capital LLC acquired a new position in Chevron during the 4th quarter valued at $2,949,000. Generali Asset Management SPA SGR acquired a new position in Chevron during the 4th quarter valued at $11,771,000. Evoke Wealth LLC raised its stake in Chevron by 5.9% during the 4th quarter. Evoke Wealth LLC now owns 43,672 shares of the oil and gas company’s stock valued at $6,326,000 after purchasing an additional 2,428 shares during the last quarter. Finally, Horizon Investments LLC raised its stake in Chevron by 2.7% during the 4th quarter. Horizon Investments LLC now owns 37,650 shares of the oil and gas company’s stock valued at $5,453,000 after purchasing an additional 1,000 shares during the last quarter. 72.42% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the sale, the vice president now owns 1,057 shares of the company’s stock, valued at $161,192.50. This represents a 89.82 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.20% of the company’s stock.

Chevron Stock Up 1.3 %

CVX opened at $160.81 on Wednesday. The firm’s 50-day simple moving average is $155.49 and its 200-day simple moving average is $152.23. 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 twelve month low of $135.37 and a twelve month high of $167.11. The firm has a market cap of $283.12 billion, a price-to-earnings ratio of 16.54, a PEG ratio of 1.46 and a beta of 1.08.

Chevron (NYSE:CVX) last posted its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a return on equity of 11.44% and a net margin of 8.71%. During the same quarter in the prior year, the business posted $3.45 earnings per share. Equities research analysts anticipate that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were issued a dividend of $1.71 per share. The ex-dividend date was Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a yield of 4.25%. This is a positive change from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio is currently 70.37%.

Analysts Set New Price Targets

Several equities analysts recently commented on CVX shares. Barclays cut their target price on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. Truist Financial cut their target price on shares of Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research note on Tuesday, February 4th. UBS Group cut their target price on shares of Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a research note on Monday, February 3rd. Wells Fargo & Company dropped their price objective on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Finally, Raymond James dropped their price objective on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research note on Monday, February 3rd. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $174.13.

Chevron Company 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.