Texas Permanent School Fund Corp Sells 3,952 Shares of Chevron Co. (NYSE:CVX)

Texas Permanent School Fund Corp lowered its position in Chevron Co. (NYSE:CVX) by 1.1% during the 1st quarter, Holdings Channel reports. The firm owned 358,618 shares of the oil and gas company’s stock after selling 3,952 shares during the quarter. Chevron comprises approximately 0.4% of Texas Permanent School Fund Corp’s investment portfolio, making the stock its 26th largest holding. Texas Permanent School Fund Corp’s holdings in Chevron were worth $56,568,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. American Capital Advisory LLC boosted its position in Chevron by 403.2% during the 1st quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock valued at $25,000 after acquiring an additional 125 shares in the last quarter. Bare Financial Services Inc bought a new stake in Chevron during the 4th quarter valued at $27,000. Frank Rimerman Advisors LLC bought a new stake in Chevron during the 4th quarter valued at $30,000. Valued Wealth Advisors LLC bought a new stake in Chevron during the 4th quarter valued at $33,000. Finally, Cooksen Wealth LLC bought a new stake in Chevron during the 4th quarter valued at $40,000. Institutional investors own 72.42% of the company’s stock.

Chevron Price Performance

Shares of NYSE:CVX traded up $0.12 during trading on Thursday, reaching $155.25. 8,322,471 shares of the company’s stock traded hands, compared to its average volume of 7,944,049. Chevron Co. has a fifty-two week low of $139.62 and a fifty-two week high of $171.70. The company has a quick ratio of 0.93, a current ratio of 1.23 and a debt-to-equity ratio of 0.13. The firm has a market cap of $286.12 billion, a PE ratio of 14.34, a P/E/G ratio of 2.34 and a beta of 1.10. The company has a 50-day simple moving average of $157.96 and a 200-day simple moving average of $155.03.

Chevron (NYSE:CVX) last posted its earnings results on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, beating analysts’ consensus estimates of $2.84 by $0.09. Chevron had a return on equity of 14.40% and a net margin of 10.21%. The firm had revenue of $48.72 billion for the quarter, compared to analysts’ expectations of $48.42 billion. During the same period last year, the firm earned $3.55 EPS. The company’s quarterly revenue was down 4.1% on a year-over-year basis. As a group, analysts predict that Chevron Co. will post 13.18 earnings per share for the current year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 17th were issued a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 4.20%. The ex-dividend date of this dividend was Thursday, May 16th. Chevron’s payout ratio is 59.98%.

Insider Buying and Selling

In related news, Director Enrique Hernandez, Jr. sold 5,098 shares of Chevron stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $163.50, for a total value of $833,523.00. Following the sale, the director now directly owns 2,549 shares in the company, valued at approximately $416,761.50. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Chevron news, Director Enrique Hernandez, Jr. sold 5,098 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $163.50, for a total value of $833,523.00. Following the transaction, the director now directly owns 2,549 shares of the company’s stock, valued at approximately $416,761.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Alana K. Knowles sold 2,800 shares of the firm’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $165.00, for a total transaction of $462,000.00. Following the completion of the transaction, the vice president now directly owns 276 shares in the company, valued at $45,540. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,746 shares of company stock worth $2,727,971. Insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on CVX shares. UBS Group increased their target price on Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a research report on Tuesday, April 9th. TD Cowen increased their price objective on Chevron from $155.00 to $160.00 and gave the company a “hold” rating in a report on Monday, April 29th. HSBC increased their price objective on Chevron from $175.00 to $178.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. Truist Financial increased their price objective on Chevron from $156.00 to $166.00 and gave the company a “hold” rating in a report on Friday, May 10th. Finally, Scotiabank upgraded Chevron from a “sector perform” rating to a “sector outperform” rating and increased their price objective for the company from $170.00 to $195.00 in a report on Thursday, April 11th. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $186.95.

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.