Teachers Retirement System of The State of Kentucky Sells 7,870 Shares of Chevron Co. (NYSE:CVX)

Teachers Retirement System of The State of Kentucky reduced its position in shares of Chevron Co. (NYSE:CVX - Free Report) by 5.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 126,137 shares of the oil and gas company's stock after selling 7,870 shares during the quarter. Teachers Retirement System of The State of Kentucky's holdings in Chevron were worth $18,270,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Tower Research Capital LLC TRC grew its stake in shares of Chevron by 28.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 95,375 shares of the oil and gas company's stock valued at $13,814,000 after acquiring an additional 20,977 shares during the period. Transce3nd LLC purchased a new position in Chevron during the fourth quarter valued at approximately $582,000. Trajan Wealth LLC boosted its position in shares of Chevron by 7.6% in the fourth quarter. Trajan Wealth LLC now owns 33,567 shares of the oil and gas company's stock worth $4,862,000 after purchasing an additional 2,372 shares during the period. Norinchukin Bank The increased its stake in shares of Chevron by 8.9% in the fourth quarter. Norinchukin Bank The now owns 91,052 shares of the oil and gas company's stock worth $13,188,000 after purchasing an additional 7,442 shares in the last quarter. Finally, Ossiam bought a new stake in shares of Chevron during the 4th quarter valued at $4,399,000. Hedge funds and other institutional investors own 72.42% of the company's stock.

Chevron Trading Up 1.7 %

Shares of CVX traded up $2.34 during midday trading on Thursday, hitting $139.02. The stock had a trading volume of 7,736,576 shares, compared to its average volume of 7,955,417. Chevron Co. has a 1 year low of $132.04 and a 1 year high of $168.96. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The stock's 50 day moving average is $152.37 and its 200 day moving average is $153.10. The firm has a market cap of $244.76 billion, a PE ratio of 14.30, a price-to-earnings-growth ratio of 1.46 and a beta of 0.93.

Chevron (NYSE:CVX - Get Free Report) 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 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 in the previous year, the business posted $3.45 EPS. As a group, analysts forecast that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were issued a $1.71 dividend. The ex-dividend date of this dividend was Friday, February 14th. This is a boost from Chevron's previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.92%. Chevron's dividend payout ratio is presently 70.37%.

Analyst Ratings Changes

Several brokerages recently weighed in on CVX. Truist Financial dropped their target price on shares of Chevron from $164.00 to $160.00 and set a "hold" rating for the company in a report on Tuesday, February 4th. Redburn Atlantic reiterated a "sell" rating and set a $124.00 target price (down previously from $156.00) on shares of Chevron in a research report on Wednesday. Scotiabank downgraded Chevron from a "sector outperform" rating to a "sector perform" rating and decreased their target price for the company from $160.00 to $143.00 in a research note on Friday, April 11th. BNP Paribas downgraded Chevron to a "cautious" rating in a research note on Tuesday, April 15th. Finally, Wells Fargo & Company reduced their price objective on shares of Chevron from $184.00 to $173.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 15th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $165.71.

Insider Buying and Selling

In related news, VP Jeff B. Gustavson sold 9,325 shares of the business's stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $152.50, for a total value of $1,422,062.50. Following the completion of the sale, the vice president now owns 1,057 shares in the company, valued at approximately $161,192.50. The trade was a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.20% of the stock is currently owned by insiders.

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.