Chevron Co. (NYSE:CVX) Shares Purchased by State of Michigan Retirement System

State of Michigan Retirement System grew its position in shares of Chevron Co. (NYSE:CVX) by 0.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 457,268 shares of the oil and gas company’s stock after purchasing an additional 900 shares during the period. State of Michigan Retirement System’s holdings in Chevron were worth $55,105,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Horan Capital Advisors LLC. lifted its stake in Chevron by 2.6% during the third quarter. Horan Capital Advisors LLC. now owns 3,311 shares of the oil and gas company’s stock worth $393,000 after purchasing an additional 85 shares during the last quarter. Halsey Associates Inc. CT boosted its holdings in Chevron by 1.1% in the third quarter. Halsey Associates Inc. CT now owns 7,813 shares of the oil and gas company’s stock valued at $927,000 after purchasing an additional 85 shares in the last quarter. Empirical Finance LLC boosted its holdings in Chevron by 2.1% in the third quarter. Empirical Finance LLC now owns 4,205 shares of the oil and gas company’s stock valued at $499,000 after purchasing an additional 87 shares in the last quarter. Archford Capital Strategies LLC boosted its holdings in Chevron by 0.5% in the third quarter. Archford Capital Strategies LLC now owns 16,784 shares of the oil and gas company’s stock valued at $1,991,000 after purchasing an additional 88 shares in the last quarter. Finally, Shulman DeMeo Asset Management LLC increased its stake in Chevron by 0.8% in the third quarter. Shulman DeMeo Asset Management LLC now owns 11,798 shares of the oil and gas company’s stock valued at $1,399,000 after purchasing an additional 90 shares during the last quarter. Institutional investors own 65.57% of the company’s stock.

Several analysts have recently weighed in on the stock. Piper Jaffray Companies initiated coverage on shares of Chevron in a research report on Tuesday, November 26th. They set a “buy” rating and a $143.00 price objective for the company. Cowen dropped their target price on shares of Chevron from $140.00 to $134.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. ValuEngine upgraded shares of Chevron from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Bank of America lowered shares of Chevron from a “neutral” rating to an “underperform” rating in a research note on Tuesday, January 7th. Finally, Citigroup downgraded shares of Chevron from a “buy” rating to a “neutral” rating in a research note on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $138.87.

In other Chevron news, CEO Michael K. Wirth sold 67,500 shares of Chevron stock in a transaction on Monday, January 6th. The shares were sold at an average price of $121.07, for a total value of $8,172,225.00. Following the transaction, the chief executive officer now directly owns 33,750 shares in the company, valued at $4,086,112.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider David A. Inchausti sold 15,000 shares of Chevron stock in a transaction on Monday, November 4th. The shares were sold at an average price of $119.89, for a total transaction of $1,798,350.00. Following the completion of the transaction, the insider now owns 15,000 shares in the company, valued at $1,798,350. The disclosure for this sale can be found here. Insiders have sold a total of 90,300 shares of company stock worth $10,904,079 over the last three months. 0.31% of the stock is currently owned by insiders.

Shares of CVX opened at $111.85 on Friday. The company’s 50 day simple moving average is $118.10 and its 200-day simple moving average is $119.15. The firm has a market cap of $213.86 billion, a PE ratio of 16.05, a price-to-earnings-growth ratio of 4.68 and a beta of 1.02. Chevron Co. has a 12-month low of $110.42 and a 12-month high of $127.34. The company has a current ratio of 1.12, a quick ratio of 0.93 and a debt-to-equity ratio of 0.16.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, November 1st. The oil and gas company reported $1.36 EPS for the quarter, missing the consensus estimate of $1.47 by ($0.11). The business had revenue of $36.12 billion during the quarter, compared to analysts’ expectations of $37.69 billion. Chevron had a net margin of 8.70% and a return on equity of 8.89%. The firm’s revenue for the quarter was down 17.9% compared to the same quarter last year. During the same quarter last year, the company earned $2.11 EPS. As a group, equities research analysts forecast that Chevron Co. will post 6.37 EPS for the current fiscal year.

Chevron Profile

Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production of crude oil and natural gas; processing, liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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