Chevron Co. (NYSE:CVX) Stock Holdings Increased by Arizona State Retirement System

Arizona State Retirement System boosted its stake in shares of Chevron Co. (NYSE:CVX - Free Report) by 0.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 504,410 shares of the oil and gas company's stock after acquiring an additional 2,409 shares during the quarter. Chevron comprises 0.4% of Arizona State Retirement System's investment portfolio, making the stock its 29th biggest holding. Arizona State Retirement System's holdings in Chevron were worth $73,059,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Pettinga Financial Advisors LLC lifted its holdings in shares of Chevron by 10.1% in the 3rd quarter. Pettinga Financial Advisors LLC now owns 2,972 shares of the oil and gas company's stock valued at $438,000 after buying an additional 272 shares during the period. Rational Advisors LLC acquired a new stake in shares of Chevron in the 3rd quarter valued at approximately $29,000. Catalyst Capital Advisors LLC acquired a new stake in shares of Chevron in the 3rd quarter valued at approximately $2,455,000. Solitude Financial Services lifted its holdings in shares of Chevron by 42.0% in the 3rd quarter. Solitude Financial Services now owns 20,165 shares of the oil and gas company's stock valued at $2,970,000 after buying an additional 5,968 shares during the period. Finally, Moloney Securities Asset Management LLC lifted its holdings in shares of Chevron by 2.9% in the 3rd quarter. Moloney Securities Asset Management LLC now owns 22,583 shares of the oil and gas company's stock valued at $3,326,000 after buying an additional 631 shares during the period. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Stock Down 0.7 %

Shares of CVX traded down $1.07 during midday trading on Wednesday, hitting $150.93. The company had a trading volume of 9,287,527 shares, compared to its average volume of 7,447,005. The company's 50 day moving average price is $153.65 and its 200 day moving average price is $151.61. The stock has a market cap of $265.73 billion, a price-to-earnings ratio of 15.53, a PEG ratio of 1.46 and a beta of 1.11. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.11. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX - Get Free Report) last released 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 company posted $3.45 earnings per share. On average, equities research analysts predict that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be issued a $1.71 dividend. The ex-dividend date of this dividend is Friday, February 14th. This is a positive change from Chevron's previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a dividend yield of 4.53%. Chevron's payout ratio is 70.37%.

Analyst Upgrades and Downgrades

CVX has been the subject of several recent analyst reports. UBS Group reduced their price target on Chevron from $195.00 to $194.00 and set a "buy" rating for the company in a report on Monday, February 3rd. Truist Financial cut their price target on Chevron from $164.00 to $160.00 and set a "hold" rating for the company in a research note on Tuesday, February 4th. Wells Fargo & Company lowered their price objective on shares of Chevron from $188.00 to $184.00 and set an "overweight" rating on the stock in a research note on Monday, February 3rd. Barclays dropped their price objective 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. Finally, Raymond James decreased their target price on shares of Chevron from $180.00 to $175.00 and set an "outperform" rating on the stock in a research report on Monday, February 3rd. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $174.13.

Insider Activity

In other news, VP Jeff B. Gustavson sold 9,325 shares of Chevron stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $152.50, for a total value of $1,422,062.50. Following the completion of 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.20% of the company's stock.

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.