Kentucky Retirement Systems Sells 1,610 Shares of Chevron Co. (NYSE:CVX)

Kentucky Retirement Systems decreased its holdings in Chevron Co. (NYSE:CVX) by 1.4% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 116,883 shares of the oil and gas company’s stock after selling 1,610 shares during the period. Chevron makes up 0.5% of Kentucky Retirement Systems’ portfolio, making the stock its 28th biggest position. Kentucky Retirement Systems’ holdings in Chevron were worth $16,929,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in CVX. FDx Advisors Inc. increased its position in Chevron by 4.4% in the 4th quarter. FDx Advisors Inc. now owns 4,113 shares of the oil and gas company’s stock valued at $596,000 after acquiring an additional 174 shares in the last quarter. Nicholson Wealth Management Group LLC boosted its stake in Chevron by 5.2% during the 4th quarter. Nicholson Wealth Management Group LLC now owns 2,799 shares of the oil and gas company’s stock worth $405,000 after acquiring an additional 138 shares during the last quarter. Cromwell Holdings LLC boosted its stake in Chevron by 6.7% during the 4th quarter. Cromwell Holdings LLC now owns 5,007 shares of the oil and gas company’s stock worth $725,000 after acquiring an additional 315 shares during the last quarter. Capital Investment Counsel Inc boosted its stake in Chevron by 5.8% during the 4th quarter. Capital Investment Counsel Inc now owns 8,379 shares of the oil and gas company’s stock worth $1,214,000 after acquiring an additional 463 shares during the last quarter. Finally, Mattern Capital Management LLC raised its holdings in Chevron by 10.1% during the 4th quarter. Mattern Capital Management LLC now owns 6,093 shares of the oil and gas company’s stock worth $883,000 after buying an additional 559 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insiders Place Their Bets

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the company’s stock in a transaction that occurred on 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 in the company, valued at $161,192.50. This represents a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on CVX shares. Raymond James dropped their target price on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a report on Monday, February 3rd. Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $145.00 to $185.00 in a research report on Tuesday, November 26th. UBS Group reduced their target price on shares of Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a research report on Monday, February 3rd. Piper Sandler reduced their target price on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Finally, Barclays cut their price objective on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a research report on Wednesday, February 5th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, Chevron presently has an average rating of “Moderate Buy” and an average target price of $174.13.

Chevron Trading Up 1.1 %

NYSE CVX opened at $158.89 on Friday. 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 Co. has a twelve month low of $135.37 and a twelve month high of $167.11. The firm has a market capitalization of $285.53 billion, a PE ratio of 16.35, a P/E/G ratio of 1.44 and a beta of 1.11. The stock’s 50 day moving average is $151.91 and its 200 day moving average is $150.91.

Chevron (NYSE:CVX) last released its earnings results on Friday, January 31st. The oil and gas company reported $2.06 EPS 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 period in the prior year, the company earned $3.45 earnings per share. Research analysts forecast that Chevron Co. will post 10.79 earnings per share for the current fiscal 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 dividend of $1.71 per share. This is an increase from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.31%. The ex-dividend date is Friday, February 14th. Chevron’s dividend payout ratio is presently 70.37%.

Chevron 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.