Chevron Co. (CVX) Shares Sold by South Dakota Investment Council

South Dakota Investment Council reduced its stake in shares of Chevron Co. (NYSE:CVX) by 6.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 398,829 shares of the oil and gas company’s stock after selling 28,850 shares during the quarter. Chevron comprises approximately 0.9% of South Dakota Investment Council’s portfolio, making the stock its 23rd largest holding. South Dakota Investment Council’s holdings in Chevron were worth $46,862,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently made changes to their positions in the stock. Korea Investment CORP increased its stake in Chevron by 5.1% in the second quarter. Korea Investment CORP now owns 1,476,610 shares of the oil and gas company’s stock valued at $154,055,000 after purchasing an additional 72,173 shares during the period. Numeric Investors LLC increased its stake in Chevron by 158.4% in the second quarter. Numeric Investors LLC now owns 52,200 shares of the oil and gas company’s stock valued at $5,446,000 after purchasing an additional 32,000 shares during the period. Palisade Asset Management LLC increased its stake in Chevron by 20.5% in the second quarter. Palisade Asset Management LLC now owns 109,154 shares of the oil and gas company’s stock valued at $11,388,000 after purchasing an additional 18,541 shares during the period. Toronto Dominion Bank increased its stake in Chevron by 24.7% in the second quarter. Toronto Dominion Bank now owns 660,443 shares of the oil and gas company’s stock valued at $68,894,000 after purchasing an additional 130,990 shares during the period. Finally, Perpetual Ltd increased its stake in shares of Chevron by 6.8% during the second quarter. Perpetual Ltd now owns 22,012 shares of the oil and gas company’s stock worth $2,297,000 after acquiring an additional 1,400 shares during the period. Hedge funds and other institutional investors own 64.06% of the company’s stock.

In other Chevron news, insider Pierre R. Breber sold 23,250 shares of the company’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $119.00, for a total value of $2,766,750.00. Following the sale, the insider now owns 42,182 shares of the company’s stock, valued at $5,019,658. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Patricia E. Yarrington sold 116,857 shares of the company’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $115.29, for a total transaction of $13,472,443.53. Following the completion of the sale, the chief financial officer now directly owns 39,506 shares in the company, valued at approximately $4,554,646.74. The disclosure for this sale can be found here. In the last three months, insiders have sold 287,271 shares of company stock worth $33,335,800. 0.38% of the stock is owned by insiders.

A number of research analysts have recently issued reports on CVX shares. Morgan Stanley boosted their price target on shares of Chevron from $120.00 to $130.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 18th. Royal Bank of Canada set a $110.00 price target on shares of Chevron and gave the stock a “sell” rating in a research note on Wednesday, December 20th. Wells Fargo & Co dropped their price target on shares of Chevron from $125.00 to $125.00 and set an “outperform” rating on the stock in a research note on Monday. Jefferies Group reiterated a “buy” rating and set a $137.00 price target on shares of Chevron in a research note on Thursday, October 19th. Finally, Zacks Investment Research upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $129.00 price target on the stock in a research note on Friday, November 17th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $129.84.

Shares of Chevron Co. (NYSE CVX) opened at $112.30 on Friday. The company has a market cap of $218,978.81, a PE ratio of 28.26, a P/E/G ratio of 2.26 and a beta of 1.15. Chevron Co. has a fifty-two week low of $102.55 and a fifty-two week high of $133.88. The company has a current ratio of 1.04, a quick ratio of 0.84 and a debt-to-equity ratio of 0.23.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $0.73 EPS for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.54). The company had revenue of $37.62 billion for the quarter, compared to analysts’ expectations of $38.43 billion. Chevron had a return on equity of 5.23% and a net margin of 6.49%. The firm’s quarterly revenue was up 19.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.22 EPS. analysts forecast that Chevron Co. will post 6.36 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 12th. Investors of record on Friday, February 16th will be issued a dividend of $1.12 per share. The ex-dividend date is Thursday, February 15th. This represents a $4.48 dividend on an annualized basis and a yield of 3.99%. This is an increase from Chevron’s previous quarterly dividend of $1.08. Chevron’s payout ratio is currently 89.07%.

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Chevron Company Profile

Chevron Corporation (Chevron) manages its investments in subsidiaries and affiliates, and provides administrative, financial, management and technology support to the United States and international subsidiaries that engage in integrated energy and chemicals operations. The Company operates through two business segments: Upstream and Downstream.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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