Retirement Systems of Alabama Buys 21,048 Shares of Chevron Corporation $CVX

Retirement Systems of Alabama increased its position in shares of Chevron Corporation (NYSE:CVX) by 1.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,162,074 shares of the oil and gas company’s stock after acquiring an additional 21,048 shares during the quarter. Chevron makes up about 0.7% of Retirement Systems of Alabama’s portfolio, making the stock its 24th biggest holding. Retirement Systems of Alabama’s holdings in Chevron were worth $237,307,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of CVX. Blue Capital Inc. acquired a new position in shares of Chevron in the 2nd quarter worth approximately $786,000. OneAscent Wealth Management LLC purchased a new position in shares of Chevron during the 2nd quarter worth approximately $973,000. Global Retirement Partners LLC acquired a new stake in Chevron in the 2nd quarter valued at approximately $14,276,000. Greg Jennings LLC acquired a new stake in Chevron in the 3rd quarter valued at approximately $1,314,000. Finally, Ferguson Wellman Capital Management Inc. increased its holdings in Chevron by 0.6% in the 3rd quarter. Ferguson Wellman Capital Management Inc. now owns 911,718 shares of the oil and gas company’s stock valued at $186,182,000 after purchasing an additional 5,787 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Transactions at Chevron

In related news, CEO Michael K. Wirth sold 317,100 shares of the business’s stock in a transaction on Friday, August 14th. The stock was sold at an average price of $200.46, for a total transaction of $63,565,866.00. Following the completion of the transaction, the chief executive officer directly owned 26,308 shares of the company’s stock, valued at $5,273,701.68. The trade was a 92.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider R. Pate sold 40,700 shares of the business’s stock in a transaction on Tuesday, October 20th. The stock was sold at an average price of $226.65, for a total value of $9,224,655.00. Following the transaction, the insider directly owned 8,791 shares of the company’s stock, valued at $1,992,480.15. The trade was a 82.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 379,470 shares of company stock valued at $77,216,415. 0.56% of the stock is currently owned by company insiders.

Analyst Ratings Changes

CVX has been the topic of a number of research reports. The Goldman Sachs Group restated a “buy” rating and set a $241.00 price target on shares of Chevron in a research note on Tuesday, October 20th. William Blair started coverage on Chevron in a research note on Wednesday, October 28th. They issued an “outperform” rating for the company. Barclays lifted their price objective on Chevron from $208.00 to $244.00 and gave the company an “equal weight” rating in a research note on Monday, November 2nd. UBS Group boosted their price objective on Chevron from $235.00 to $265.00 and gave the company a “buy” rating in a report on Monday, November 2nd. Finally, Sanford C. Bernstein increased their target price on Chevron from $204.00 to $209.00 and gave the stock a “market perform” rating in a research note on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $221.88.

Chevron Price Performance

Shares of CVX opened at $210.91 on Tuesday. Chevron Corporation has a fifty-two week low of $146.49 and a fifty-two week high of $236.48. The firm’s 50 day moving average price is $215.09 and its 200 day moving average price is $194.63. The company has a market cap of $416.71 billion, a P/E ratio of 15.43, a PEG ratio of 0.51 and a beta of 0.47. The company has a quick ratio of 0.98, a current ratio of 1.25 and a debt-to-equity ratio of 0.19.

Chevron (NYSE:CVX) last released its earnings results on Friday, October 30th. The oil and gas company reported $5.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.87 by $0.41. Chevron had a net margin of 11.56% and a return on equity of 14.64%. The company had revenue of $65.24 billion for the quarter, compared to analyst estimates of $61.82 billion. During the same period in the prior year, the business earned $1.85 EPS. The firm’s quarterly revenue was up 36.3% on a year-over-year basis. On average, research analysts forecast that Chevron Corporation will post 18.56 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Wednesday, November 18th will be given a dividend of $1.78 per share. The ex-dividend date of this dividend is Wednesday, November 18th. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.4%. Chevron’s dividend payout ratio is currently 52.08%.

Chevron Company Profile

Chevron Corporation (NYSE:CVX) is an integrated energy company engaged in the exploration, development, production, transportation and sale of crude oil and natural gas. Its upstream operations include oil and gas exploration and production, while its downstream business includes refining crude oil, marketing fuels and manufacturing and distributing lubricants, petrochemicals and fuel additives.

The company also invests in lower-carbon businesses and technologies, including renewable fuels, carbon capture and storage, hydrogen and other opportunities intended to reduce emissions from its operations and energy products.