Alaska Permanent Fund Corp Has $7.50 Million Stock Position in Chevron Co. (NYSE:CVX)

Alaska Permanent Fund Corp reduced its position in Chevron Co. (NYSE:CVX) by 13.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 47,551 shares of the oil and gas company’s stock after selling 7,278 shares during the period. Alaska Permanent Fund Corp’s holdings in Chevron were worth $7,501,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Renaissance Investment Group LLC lifted its holdings in shares of Chevron by 12.7% in the fourth quarter. Renaissance Investment Group LLC now owns 6,187 shares of the oil and gas company’s stock valued at $923,000 after purchasing an additional 697 shares in the last quarter. Camelot Portfolios LLC acquired a new position in Chevron during the fourth quarter valued at $254,000. Kapstone Financial Advisors LLC lifted its stake in Chevron by 5.3% in the 4th quarter. Kapstone Financial Advisors LLC now owns 4,216 shares of the oil and gas company’s stock worth $626,000 after acquiring an additional 211 shares in the last quarter. Guyasuta Investment Advisors Inc. boosted its position in Chevron by 1.7% during the 4th quarter. Guyasuta Investment Advisors Inc. now owns 216,593 shares of the oil and gas company’s stock worth $32,307,000 after acquiring an additional 3,603 shares during the period. Finally, Seven Mile Advisory grew its stake in Chevron by 9.8% during the 4th quarter. Seven Mile Advisory now owns 2,766 shares of the oil and gas company’s stock valued at $413,000 after acquiring an additional 247 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CVX. Piper Sandler increased their price target on shares of Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a research report on Thursday, April 18th. Barclays initiated coverage on shares of Chevron in a research note on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 price objective on the stock. Wells Fargo & Company lifted their target price on shares of Chevron from $198.00 to $206.00 and gave the company an “overweight” rating in a research note on Tuesday, April 30th. Raymond James upped their price target on shares of Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a research note on Monday, April 15th. Finally, Scotiabank upgraded Chevron from a “sector perform” rating to a “sector outperform” rating and increased their price objective for the stock 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, Chevron presently has a consensus rating of “Moderate Buy” and an average target price of $186.95.

Chevron Price Performance

Shares of Chevron stock opened at $156.65 on Friday. Chevron Co. has a 1-year low of $139.62 and a 1-year high of $171.70. The firm has a fifty day simple moving average of $159.32 and a 200-day simple moving average of $154.06. The company has a current ratio of 1.23, a quick ratio of 0.93 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $288.70 billion, a price-to-earnings ratio of 14.41, a PEG ratio of 2.28 and a beta of 1.12.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, topping 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 business had revenue of $48.72 billion for the quarter, compared to analyst estimates of $48.42 billion. During the same period in the previous year, the company posted $3.55 earnings per share. The firm’s revenue for the quarter was down 4.1% on a year-over-year basis. On average, sell-side analysts expect that Chevron Co. will post 13.45 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 17th were issued a dividend of $1.63 per share. The ex-dividend date was Thursday, May 16th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.16%. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

Insider Activity

In related news, Director Enrique Hernandez, Jr. sold 5,098 shares of the business’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $163.50, for a total transaction of $833,523.00. Following the transaction, the director now owns 2,549 shares of the company’s stock, valued at $416,761.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Enrique Hernandez, Jr. sold 5,098 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $163.50, for a total value of $833,523.00. Following the completion of the sale, the director now owns 2,549 shares in the company, valued at $416,761.50. The transaction 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 Chevron 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 in the company, valued at $1,231,167. The disclosure for this sale can be found here. Over the last three months, insiders sold 19,546 shares of company stock valued at $3,176,223. 0.20% of the stock is owned by company insiders.

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.