Chevron Corporation $CVX Shares Acquired by Oregon Public Employees Retirement Fund

by · The Cerbat Gem

Oregon Public Employees Retirement Fund lifted its stake in Chevron Corporation (NYSE:CVX – Free Report) by 5.5% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 242,879 shares of the oil and gas company’s stock after acquiring an additional 12,710 shares during the period. Chevron accounts for about 0.5% of Oregon Public Employees Retirement Fund’s investment portfolio, making the stock its 28th largest position. Oregon Public Employees Retirement Fund’s holdings in Chevron were worth $49,598,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in shares of Chevron in the second quarter valued at approximately $25,663,729,000. Bank of New York Mellon Corp bought a new position in Chevron in the 2nd quarter worth approximately $2,378,114,000. Legal & General Group Plc bought a new position in Chevron in the 2nd quarter worth approximately $1,462,412,000. Deutsche Bank AG acquired a new position in shares of Chevron during the second quarter worth approximately $1,189,577,000. Finally, State Street Corp increased its position in Chevron by 3.9% during the second quarter. State Street Corp now owns 159,136,768 shares of the oil and gas company’s stock worth $28,016,651,000 after acquiring an additional 5,998,852 shares during the period. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Chevron news, insider R. Pate sold 40,700 shares of the business’s stock in a transaction on Tuesday, October 20th. The shares were sold at an average price of $226.65, for a total value of $9,224,655.00. Following the sale, the insider owned 8,791 shares of the company’s stock, valued at $1,992,480.15. The trade was a 82.24% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Andrew Walz sold 16,800 shares of Chevron stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $201.06, for a total transaction of $3,377,808.00. Following the sale, the insider owned 14 shares in the company, valued at approximately $2,814.84. This trade represents a 99.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 379,470 shares of company stock worth $77,216,415 over the last 90 days. Corporate insiders own 0.56% of the company’s stock.

Analysts Set New Price Targets

CVX has been the subject of several research analyst reports. Morgan Stanley upped their target price on shares of Chevron from $226.00 to $230.00 and gave the company an “overweight” rating in a research note on Monday. UBS Group raised their price target on shares of Chevron from $235.00 to $265.00 and gave the stock a “buy” rating in a research report on Monday. DZ Bank lowered shares of Chevron from a “buy” rating to a “hold” rating and set a $240.00 price target on the stock. in a research report on Tuesday. BNP Paribas Exane dropped their price objective on shares of Chevron from $230.00 to $224.00 and set an “outperform” rating on the stock in a report on Friday, July 17th. Finally, Raymond James Financial cut their price objective on shares of Chevron from $230.00 to $225.00 and set an “outperform” rating for the company in a research report on Tuesday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $222.04.

Read Our Latest Stock Analysis on CVX

Trending Headlines about Chevron

Here are the key news stories impacting Chevron this week:

  • Positive Sentiment: Chevron reported adjusted third-quarter earnings of $5.28 per share, topping expectations, with record U.S. refinery throughput and strong refining margins contributing to results. UBS raised its price target to $265 and retained a Buy rating after the results. Q3 results deep dive
  • Positive Sentiment: Chevron says it remains on track to supply power to a Microsoft West Texas data center in 2028 through Project Kilby, despite permitting uncertainty—an update supporting its efforts to build data-center energy demand into a growth opportunity. Chevron data-center power target
  • Neutral Sentiment: Oil-market sentiment is volatile: Brent fell about 8% after signals that Iran may be open to peace talks, but reports of U.S. strikes in Iran complicate the outlook. A sustained easing of conflict could pressure crude prices, while renewed escalation could reverse the move. Oil-market reaction to Iran news
  • Negative Sentiment: Lower crude prices pose a potential headwind for Chevron’s upstream earnings, and the shares may also be vulnerable to profit-taking after a substantial rally. ETF flows were mixed, with reports of net sales on Oct. 30. ETF sales of Chevron shares
  • Negative Sentiment: DZ Bank lowered its rating from Buy to Hold, adding a cautious analyst view even as its $240 target remains above the quoted share price. DZ Bank rating action

Chevron Price Performance

Shares of CVX stock opened at $225.58 on Wednesday. Chevron Corporation has a 12 month low of $146.49 and a 12 month high of $236.48. The company has a market capitalization of $445.70 billion, a P/E ratio of 16.50, a P/E/G ratio of 0.54 and a beta of 0.47. The stock has a 50 day moving average of $214.06 and a two-hundred day moving average of $193.68. The company has a current ratio of 1.25, a quick ratio of 0.98 and a debt-to-equity ratio of 0.19.

Chevron (NYSE:CVX – Get Free Report) last released its quarterly earnings data on Friday, October 30th. The oil and gas company reported $5.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.87 by $0.41. The business had revenue of $65.24 billion for the quarter, compared to analysts’ expectations of $61.82 billion. Chevron had a return on equity of 14.64% and a net margin of 11.56%. Chevron’s quarterly revenue was up 36.3% on a year-over-year basis. During the same period in the previous year, the business posted $1.85 earnings per share. As a group, equities analysts expect that Chevron Corporation will post 18.20 EPS for the current year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Wednesday, November 18th will be given a $1.78 dividend. This represents a $7.12 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Wednesday, November 18th. Chevron’s dividend payout ratio (DPR) is 52.08%.

Chevron Profile

(Free Report)

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.

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