Chevron Corporation $CVX Holdings Raised by NJ State Employees Deferred Compensation Plan

NJ State Employees Deferred Compensation Plan boosted its holdings in Chevron Corporation (NYSE:CVX) by 38.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 36,643 shares of the oil and gas company’s stock after acquiring an additional 10,250 shares during the quarter. Chevron comprises about 0.6% of NJ State Employees Deferred Compensation Plan’s investment portfolio, making the stock its 29th biggest holding. NJ State Employees Deferred Compensation Plan’s holdings in Chevron were worth $5,690,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Quaker Wealth Management LLC boosted its holdings in Chevron by 197.7% during the second quarter. Quaker Wealth Management LLC now owns 217 shares of the oil and gas company’s stock worth $31,000 after buying an additional 439 shares in the last quarter. Decker Retirement Planning Inc. acquired a new stake in shares of Chevron during the 3rd quarter valued at $34,000. Vermillion & White Wealth Management Group LLC boosted its stake in shares of Chevron by 86.1% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 255 shares of the oil and gas company’s stock worth $37,000 after acquiring an additional 118 shares in the last quarter. Marquette Asset Management LLC acquired a new position in shares of Chevron in the 3rd quarter worth $41,000. Finally, IMG Wealth Management Inc. raised its position in shares of Chevron by 52.3% during the second quarter. IMG Wealth Management Inc. now owns 265 shares of the oil and gas company’s stock worth $38,000 after purchasing an additional 91 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Transactions at Chevron

In related news, insider Andrew Benjamin Walz sold 22,200 shares of the business’s stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $176.53, for a total value of $3,918,966.00. Following the completion of the sale, the insider directly owned 666 shares in the company, valued at approximately $117,568.98. The trade was a 97.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Eimear P. Bonner sold 32,100 shares of the company’s stock in a transaction that occurred on Friday, January 30th. The stock was sold at an average price of $175.01, for a total value of $5,617,821.00. Following the sale, the chief financial officer directly owned 4,366 shares of the company’s stock, valued at $764,093.66. The trade was a 88.03% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 793,163 shares of company stock valued at $127,920,502 in the last three months. 0.20% of the stock is currently owned by company insiders.

Chevron Stock Performance

Shares of CVX opened at $183.65 on Tuesday. The company has a market capitalization of $369.79 billion, a PE ratio of 27.58, a PEG ratio of 12.16 and a beta of 0.70. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.86 and a current ratio of 1.15. The company’s 50 day moving average price is $163.21 and its 200 day moving average price is $157.68. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $186.52.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, January 30th. The oil and gas company reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.44 by $0.08. The firm had revenue of $45.79 billion for the quarter, compared to analyst estimates of $48.18 billion. Chevron had a net margin of 6.51% and a return on equity of 8.23%. The company’s revenue for the quarter was down 10.2% on a year-over-year basis. During the same quarter last year, the firm earned $2.06 earnings per share. Research analysts expect that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Tuesday, February 17th will be paid a $1.78 dividend. This represents a $7.12 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend is Tuesday, February 17th. This is a boost from Chevron’s previous quarterly dividend of $1.71. Chevron’s dividend payout ratio (DPR) is presently 102.70%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Jefferies Financial Group increased their price target on Chevron from $174.00 to $189.00 and gave the company a “buy” rating in a research report on Wednesday, January 14th. Citigroup decreased their target price on shares of Chevron from $185.00 to $179.00 and set a “buy” rating for the company in a report on Monday, January 5th. HSBC lowered shares of Chevron from a “buy” rating to a “hold” rating and set a $180.00 price target on the stock. in a report on Monday, February 2nd. UBS Group reaffirmed a “buy” rating and issued a $212.00 price objective on shares of Chevron in a research note on Monday, February 2nd. Finally, TD Cowen boosted their target price on shares of Chevron from $160.00 to $168.00 and gave the company a “hold” rating in a research note on Monday, February 2nd. Twelve investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and four have issued a Sell rating to the company. According to MarketBeat, Chevron currently has an average rating of “Hold” and an average target price of $175.00.

About Chevron

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.