Texas Permanent School Fund Corp Has $56.57 Million Position in Chevron Co. (NYSE:CVX)

Texas Permanent School Fund Corp reduced its stake in shares of Chevron Co. (NYSE:CVX) by 1.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 358,618 shares of the oil and gas company’s stock after selling 3,952 shares during the quarter. Chevron makes up approximately 0.4% of Texas Permanent School Fund Corp’s portfolio, making the stock its 26th largest position. Texas Permanent School Fund Corp’s holdings in Chevron were worth $56,568,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Howland Capital Management LLC raised its position in Chevron by 18.5% during the first quarter. Howland Capital Management LLC now owns 238,298 shares of the oil and gas company’s stock valued at $37,589,000 after acquiring an additional 37,182 shares in the last quarter. Geneos Wealth Management Inc. raised its position in Chevron by 2.2% during the first quarter. Geneos Wealth Management Inc. now owns 38,916 shares of the oil and gas company’s stock valued at $6,139,000 after acquiring an additional 844 shares in the last quarter. Lester Murray Antman dba SimplyRich bought a new position in Chevron during the first quarter valued at approximately $289,000. Silver Oak Advisory Group Inc. bought a new position in Chevron during the first quarter valued at approximately $201,000. Finally, Valley Wealth Managers Inc. raised its position in Chevron by 0.9% during the first quarter. Valley Wealth Managers Inc. now owns 138,155 shares of the oil and gas company’s stock valued at $21,793,000 after acquiring an additional 1,263 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Price Performance

Shares of NYSE:CVX traded up $0.12 on Thursday, hitting $155.25. The stock had a trading volume of 8,322,471 shares, compared to its average volume of 7,944,049. Chevron Co. has a twelve month low of $139.62 and a twelve month high of $171.70. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.93 and a current ratio of 1.23. The firm’s 50 day moving average price is $157.96 and its 200-day moving average price is $155.03. The company has a market capitalization of $286.12 billion, a price-to-earnings ratio of 14.34, a price-to-earnings-growth ratio of 2.34 and a beta of 1.10.

Chevron (NYSE:CVX) last issued its earnings results on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, beating the consensus estimate of $2.84 by $0.09. Chevron had a net margin of 10.21% and a return on equity of 14.40%. The company had revenue of $48.72 billion for the quarter, compared to the consensus estimate of $48.42 billion. During the same quarter in the previous year, the company earned $3.55 EPS. The firm’s revenue for the quarter was down 4.1% compared to the same quarter last year. On average, equities research analysts predict that Chevron Co. will post 13.18 earnings per share for the current year.

Chevron Announces Dividend

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

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CVX. UBS Group raised their price objective on shares of Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a research report on Tuesday, April 9th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Chevron in a research report on Monday, April 1st. TD Cowen lifted their price target on shares of Chevron from $155.00 to $160.00 and gave the company a “hold” rating in a research report on Monday, April 29th. Barclays began coverage on shares of Chevron in a research report on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 price target on the stock. Finally, HSBC lifted their price target on shares of Chevron from $175.00 to $178.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Chevron has a consensus rating of “Moderate Buy” and a consensus price target of $186.95.

Insider Buying and Selling

In related news, VP Alana K. Knowles sold 2,800 shares of the company’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $165.00, for a total transaction of $462,000.00. Following the transaction, the vice president now owns 276 shares in the company, valued at approximately $45,540. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, VP Alana K. Knowles sold 2,800 shares of the company’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $165.00, for a total transaction of $462,000.00. Following the transaction, the vice president now owns 276 shares in the company, valued at approximately $45,540. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Enrique Hernandez, Jr. sold 2,549 shares of the business’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $161.00, for a total value of $410,389.00. Following the sale, the director now directly owns 7,647 shares of the company’s stock, valued at $1,231,167. The disclosure for this sale can be found here. Insiders have sold a total of 16,746 shares of company stock worth $2,727,971 in the last 90 days. Corporate insiders own 0.20% of the company’s stock.

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.