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

Illinois Municipal Retirement Fund grew its holdings in Chevron Co. (NYSE:CVX) by 22.7% in the 4th quarter, Holdings Channel reports. The institutional investor owned 167,687 shares of the oil and gas company’s stock after buying an additional 31,001 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Chevron were worth $24,288,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Life Planning Partners Inc acquired a new position in Chevron during the fourth quarter worth $25,000. Rational Advisors LLC purchased a new position in Chevron during the third quarter worth $29,000. Legacy Investment Solutions LLC purchased a new position in Chevron during the third quarter worth $29,000. Darwin Wealth Management LLC purchased a new position in Chevron during the third quarter worth $30,000. Finally, RPg Family Wealth Advisory LLC purchased a new position in Chevron during the third quarter worth $31,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Stock Up 0.6 %

NYSE CVX opened at $157.85 on Tuesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The firm has a 50-day simple moving average of $152.14 and a 200 day simple moving average of $151.20. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11. The stock has a market cap of $283.68 billion, a PE ratio of 16.24, a PEG ratio of 1.46 and a beta of 1.11.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing analysts’ consensus estimates 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 quarter in the prior year, the firm posted $3.45 EPS. On average, research analysts forecast that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

The company also recently disclosed 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 a positive change from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date is Friday, February 14th. This represents a $6.84 annualized dividend and a dividend yield of 4.33%. Chevron’s dividend payout ratio (DPR) is presently 70.37%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CVX. Barclays lowered their price objective on Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a research report on Wednesday, February 5th. Wells Fargo & Company lowered their price objective on Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $175.00 price objective on shares of Chevron in a research report on Monday, February 3rd. DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price on the stock in a report on Tuesday, November 5th. Finally, Truist Financial reduced their target price on Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a report on Tuesday, February 4th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, Chevron has a consensus rating of “Moderate Buy” and a consensus target price of $174.13.

Insider Transactions at Chevron

In other news, VP Jeff B. Gustavson sold 9,325 shares of the firm’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 transaction of $1,422,062.50. Following the completion of the sale, the vice president now owns 1,057 shares of the company’s stock, valued at approximately $161,192.50. This trade represents a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.20% of the company’s stock.

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.