Public Employees Retirement Association of Colorado Has $33.81 Million Holdings in Chevron Co. (NYSE:CVX)

Public Employees Retirement Association of Colorado lessened its stake in shares of Chevron Co. (NYSE:CVX - Free Report) by 48.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 233,406 shares of the oil and gas company's stock after selling 217,902 shares during the quarter. Public Employees Retirement Association of Colorado's holdings in Chevron were worth $33,807,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the stock. Geode Capital Management LLC boosted its stake in Chevron by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 36,269,270 shares of the oil and gas company's stock valued at $5,247,142,000 after purchasing an additional 392,916 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Chevron by 2.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 31,855,566 shares of the oil and gas company's stock valued at $4,613,960,000 after purchasing an additional 746,806 shares during the period. Norges Bank bought a new stake in Chevron during the 4th quarter valued at approximately $3,017,750,000. Fisher Asset Management LLC boosted its stake in Chevron by 2.1% during the 4th quarter. Fisher Asset Management LLC now owns 19,892,848 shares of the oil and gas company's stock valued at $2,881,280,000 after purchasing an additional 410,460 shares during the period. Finally, Franklin Resources Inc. boosted its stake in Chevron by 0.5% during the 4th quarter. Franklin Resources Inc. now owns 17,280,105 shares of the oil and gas company's stock valued at $2,502,850,000 after purchasing an additional 79,917 shares during the period. Institutional investors own 72.42% of the company's stock.

Chevron Trading Down 0.6 %

Shares of CVX stock traded down $0.80 on Tuesday, reaching $139.30. The company had a trading volume of 7,337,270 shares, compared to its average volume of 7,937,338. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The company has a 50-day moving average of $151.35 and a 200-day moving average of $152.91. Chevron Co. has a 12 month low of $132.04 and a 12 month high of $168.96. The stock has a market cap of $245.25 billion, a PE ratio of 14.33, a PEG ratio of 1.46 and a beta of 0.93.

Chevron (NYSE:CVX - Get Free Report) last issued its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing the consensus estimate 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 last year, the business earned $3.45 earnings per share. On average, equities analysts forecast that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were given 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 4.91%. This is an increase from Chevron's previous quarterly dividend of $1.63. Chevron's dividend payout ratio is 70.37%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on CVX shares. Scotiabank cut Chevron from a "sector outperform" rating to a "sector perform" rating and cut their price target for the company from $160.00 to $143.00 in a report on Friday, April 11th. Truist Financial reduced their target price on shares of Chevron from $164.00 to $160.00 and set a "hold" rating on the stock in a research note on Tuesday, February 4th. BNP Paribas downgraded shares of Chevron to a "cautious" rating in a research note on Tuesday, April 15th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $175.00 price target on shares of Chevron in a report on Monday, February 3rd. Finally, Barclays cut Chevron from an "overweight" rating to an "equal weight" rating and cut their price target for the company from $171.00 to $152.00 in a report on Wednesday, April 23rd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat, Chevron currently has a consensus rating of "Hold" and an average target price of $165.71.

Insiders Place Their Bets

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 owns 1,057 shares of the company's stock, valued at $161,192.50. This trade represents a 89.82 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.20% 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.