Chevron Co. (NYSE:CVX) Shares Sold by LS Investment Advisors LLC

LS Investment Advisors LLC reduced its position in shares of Chevron Co. (NYSE:CVX) by 5.9% in the 1st quarter, Holdings Channel.com reports. The firm owned 24,623 shares of the oil and gas company’s stock after selling 1,553 shares during the quarter. LS Investment Advisors LLC’s holdings in Chevron were worth $4,119,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sage Capital Advisors llc increased its position in Chevron by 2.2% during the first quarter. Sage Capital Advisors llc now owns 42,421 shares of the oil and gas company’s stock worth $7,097,000 after purchasing an additional 919 shares during the last quarter. Viking Fund Management LLC increased its position in Chevron by 9.3% during the first quarter. Viking Fund Management LLC now owns 117,000 shares of the oil and gas company’s stock worth $19,573,000 after purchasing an additional 10,000 shares during the last quarter. Allianz SE acquired a new stake in Chevron during the fourth quarter worth about $9,369,000. Nicholas Company Inc. increased its position in Chevron by 4.3% during the fourth quarter. Nicholas Company Inc. now owns 80,025 shares of the oil and gas company’s stock worth $11,591,000 after purchasing an additional 3,280 shares during the last quarter. Finally, Applied Finance Capital Management LLC increased its position in Chevron by 1.6% during the fourth quarter. Applied Finance Capital Management LLC now owns 179,815 shares of the oil and gas company’s stock worth $26,044,000 after purchasing an additional 2,755 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Trading Down 1.5%

Shares of CVX stock opened at $137.46 on Thursday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The stock has a market capitalization of $240.06 billion, a P/E ratio of 14.14, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83. The company has a 50 day moving average price of $140.16 and a 200 day moving average price of $150.11. Chevron Co. has a fifty-two week low of $132.04 and a fifty-two week high of $168.96.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.03. The firm had revenue of $47.61 billion during the quarter, compared to analysts’ expectations of $49.05 billion. Chevron had a net margin of 8.71% and a return on equity of 11.44%. The business’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.93 earnings per share. Equities research analysts predict that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Monday, May 19th will be issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.98%. The ex-dividend date of this dividend is Monday, May 19th. Chevron’s dividend payout ratio (DPR) is currently 78.17%.

Analyst Upgrades and Downgrades

CVX has been the subject of several recent analyst reports. Scotiabank cut shares of Chevron from a “sector outperform” rating to a “sector perform” rating and cut their price objective for the stock from $160.00 to $143.00 in a research report on Friday, April 11th. Wells Fargo & Company dropped their price target on shares of Chevron from $173.00 to $164.00 and set an “overweight” rating for the company in a research report on Monday, May 5th. UBS Group dropped their price target on shares of Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a research report on Monday, April 7th. Barclays cut shares of Chevron from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $171.00 to $152.00 in a research report on Wednesday, April 23rd. Finally, BNP Paribas cut shares of Chevron to a “cautious” rating in a research report on Tuesday, April 15th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $160.24.

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.