L & S Advisors Inc lessened its stake in Chevron Co. (NYSE:CVX) by 4.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,646 shares of the oil and gas company’s stock after selling 1,169 shares during the quarter. L & S Advisors Inc’s holdings in Chevron were worth $3,440,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Earnest Partners LLC grew its position in shares of Chevron by 14.9% during the 2nd quarter. Earnest Partners LLC now owns 986 shares of the oil and gas company’s stock worth $123,000 after buying an additional 128 shares during the period. BlackRock Inc. lifted its stake in Chevron by 3.5% in the second quarter. BlackRock Inc. now owns 131,522,440 shares of the oil and gas company’s stock valued at $16,366,651,000 after buying an additional 4,401,622 shares in the last quarter. Qtron Investments LLC lifted its stake in Chevron by 55.7% in the second quarter. Qtron Investments LLC now owns 11,294 shares of the oil and gas company’s stock valued at $1,405,000 after buying an additional 4,041 shares in the last quarter. Bowen Hanes & Co. Inc. lifted its stake in Chevron by 4.0% in the second quarter. Bowen Hanes & Co. Inc. now owns 268,240 shares of the oil and gas company’s stock valued at $33,380,000 after buying an additional 10,317 shares in the last quarter. Finally, Blackhawk Capital Partners LLC. lifted its stake in Chevron by 7.2% in the second quarter. Blackhawk Capital Partners LLC. now owns 9,009 shares of the oil and gas company’s stock valued at $1,121,000 after buying an additional 606 shares in the last quarter. Hedge funds and other institutional investors own 65.79% of the company’s stock.
CVX has been the topic of a number of research reports. BMO Capital Markets initiated coverage on shares of Chevron in a research note on Tuesday, August 20th. They issued an “outperform” rating and a $165.00 price target on the stock. Independent Research set a $127.00 price objective on shares of Chevron and gave the company a “neutral” rating in a report on Thursday, August 29th. ValuEngine downgraded shares of Chevron from a “hold” rating to a “sell” rating in a report on Wednesday. Barclays assumed coverage on shares of Chevron in a report on Monday, August 19th. They issued an “overweight” rating and a $145.00 price objective on the stock. Finally, Cowen set a $140.00 price objective on shares of Chevron and gave the company a “buy” rating in a report on Friday, August 30th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $136.22.
Shares of NYSE:CVX traded up $0.20 on Friday, hitting $121.62. The company had a trading volume of 513,829 shares, compared to its average volume of 5,181,289. Chevron Co. has a 1-year low of $100.22 and a 1-year high of $127.60. The stock has a market cap of $231.18 billion, a price-to-earnings ratio of 14.74, a P/E/G ratio of 3.03 and a beta of 1.01. The stock has a 50 day moving average price of $119.43 and a 200 day moving average price of $121.28. The company has a current ratio of 1.15, a quick ratio of 0.91 and a debt-to-equity ratio of 0.16.
Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.27 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.74 by $0.53. Chevron had a net margin of 9.18% and a return on equity of 9.58%. The firm had revenue of $38.85 billion for the quarter, compared to the consensus estimate of $40.14 billion. During the same period in the previous year, the company earned $1.78 earnings per share. The company’s quarterly revenue was down 8.0% on a year-over-year basis. Sell-side analysts anticipate that Chevron Co. will post 6.64 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were issued a $1.19 dividend. The ex-dividend date was Friday, August 16th. This represents a $4.76 annualized dividend and a dividend yield of 3.91%. Chevron’s dividend payout ratio is currently 57.70%.
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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