Chevron Co. (NYSE:CVX) Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund cut its stake in Chevron Co. (NYSE:CVX) by 9.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 159,252 shares of the oil and gas company’s stock after selling 17,407 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Chevron were worth $24,910,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. American Capital Advisory LLC boosted its holdings in Chevron by 403.2% during the first quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock worth $25,000 after buying an additional 125 shares in the last quarter. Frank Rimerman Advisors LLC purchased a new stake in shares of Chevron during the 4th quarter worth about $30,000. Anfield Capital Management LLC grew its position in shares of Chevron by 118.0% during the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock valued at $34,000 after acquiring an additional 118 shares during the period. Cooksen Wealth LLC purchased a new position in shares of Chevron in the 4th quarter valued at about $40,000. Finally, Clear Investment Research LLC raised its holdings in Chevron by 264.9% in the 4th quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock worth $42,000 after purchasing an additional 204 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on CVX. Wolfe Research assumed coverage on Chevron in a report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Truist Financial cut their price target on shares of Chevron from $156.00 to $154.00 and set a “hold” rating for the company in a report on Monday, August 5th. Scotiabank reduced their price objective on shares of Chevron from $195.00 to $180.00 and set a “sector outperform” rating for the company in a research report on Friday, July 12th. Mizuho lifted their target price on shares of Chevron from $200.00 to $205.00 and gave the company a “buy” rating in a research report on Monday, May 13th. Finally, Royal Bank of Canada reduced their price target on shares of Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a research report on Monday, August 5th. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Chevron presently has an average rating of “Moderate Buy” and an average price target of $183.82.

Chevron Trading Down 1.7 %

Shares of CVX traded down $2.37 during midday trading on Friday, reaching $138.56. The company had a trading volume of 7,836,358 shares, compared to its average volume of 7,768,067. Chevron Co. has a 1-year low of $137.87 and a 1-year high of $171.70. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13. The firm has a 50 day simple moving average of $150.82 and a 200-day simple moving average of $155.26. The stock has a market cap of $255.36 billion, a PE ratio of 12.74, a price-to-earnings-growth ratio of 2.50 and a beta of 1.09.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.38). The firm had revenue of $51.18 billion for the quarter, compared to analyst estimates of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. Chevron’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.08 earnings per share. Research analysts forecast that Chevron Co. will post 11.86 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 19th will be issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 4.71%. The ex-dividend date is Monday, August 19th. Chevron’s dividend payout ratio is presently 59.98%.

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.