Varma Mutual Pension Insurance Co Has $47.01 Million Holdings in Chevron Corporation $CVX

Varma Mutual Pension Insurance Co cut its holdings in Chevron Corporation (NYSE:CVX) by 10.1% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 308,436 shares of the oil and gas company’s stock after selling 34,500 shares during the period. Varma Mutual Pension Insurance Co’s holdings in Chevron were worth $47,009,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Dakota Wealth Management grew its stake in Chevron by 14.9% during the fourth quarter. Dakota Wealth Management now owns 83,265 shares of the oil and gas company’s stock worth $12,690,000 after buying an additional 10,822 shares in the last quarter. Brooklyn FI LLC acquired a new stake in Chevron during the third quarter worth about $431,000. New York State Teachers Retirement System lifted its holdings in shares of Chevron by 15.3% in the third quarter. New York State Teachers Retirement System now owns 1,620,231 shares of the oil and gas company’s stock worth $251,606,000 after acquiring an additional 215,345 shares during the last quarter. Clear Trail Advisors LLC acquired a new stake in shares of Chevron in the 4th quarter valued at approximately $10,167,000. Finally, Finemark National Bank & Trust boosted its stake in shares of Chevron by 40.3% in the 3rd quarter. Finemark National Bank & Trust now owns 56,535 shares of the oil and gas company’s stock valued at $8,779,000 after purchasing an additional 16,243 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Stock Performance

NYSE:CVX opened at $190.79 on Monday. The company has a fifty day moving average of $193.08 and a 200-day moving average of $171.36. The firm has a market capitalization of $380.12 billion, a P/E ratio of 33.07, a P/E/G ratio of 0.71 and a beta of 0.51. The company has a quick ratio of 0.86, a current ratio of 1.15 and a debt-to-equity ratio of 0.21. Chevron Corporation has a twelve month low of $133.77 and a twelve month high of $214.71.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.41. The company had revenue of $48.61 billion during the quarter, compared to analyst estimates of $51.86 billion. Chevron had a net margin of 5.79% and a return on equity of 7.01%. Chevron’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.18 EPS. As a group, sell-side analysts anticipate that Chevron Corporation will post 14.13 EPS for the current year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Tuesday, May 19th will be given a $1.78 dividend. The ex-dividend date of this dividend is Tuesday, May 19th. This represents a $7.12 annualized dividend and a yield of 3.7%. Chevron’s dividend payout ratio (DPR) is presently 123.40%.

Analyst Ratings Changes

A number of research firms have recently weighed in on CVX. Scotiabank raised their price target on shares of Chevron from $168.00 to $187.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 22nd. UBS Group restated a “buy” rating and issued a $212.00 price target on shares of Chevron in a research note on Monday, February 2nd. Sanford C. Bernstein raised their price target on shares of Chevron from $170.00 to $172.00 and gave the company a “market perform” rating in a research note on Monday, January 5th. BNP Paribas Exane upgraded shares of Chevron from a “neutral” rating to an “outperform” rating and set a $174.00 price objective for the company in a report on Friday, April 17th. Finally, Jefferies Financial Group raised their price objective on shares of Chevron from $174.00 to $189.00 and gave the company a “buy” rating in a report on Wednesday, January 14th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Chevron has an average rating of “Moderate Buy” and an average target price of $198.61.

Insiders Place Their Bets

In related news, Vice Chairman Mark A. Nelson sold 139,600 shares of Chevron stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $187.92, for a total value of $26,233,632.00. Following the completion of the sale, the insider owned 11,337 shares of the company’s stock, valued at approximately $2,130,449.04. This trade represents a 92.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider R. Hewitt Pate sold 40,200 shares of Chevron stock in a transaction on Monday, March 30th. The shares were sold at an average price of $213.30, for a total transaction of $8,574,660.00. Following the completion of the sale, the insider directly owned 8,638 shares of the company’s stock, valued at approximately $1,842,485.40. The trade was a 82.31% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 649,639 shares of company stock worth $123,297,346 in the last quarter. Insiders own 0.56% of the company’s stock.

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.