L & S Advisors Inc Has $247,000 Stake in Chevron Co. (NYSE:CVX)

L & S Advisors Inc lowered its stake in Chevron Co. (NYSE:CVX) by 92.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,579 shares of the oil and gas company’s stock after selling 19,369 shares during the quarter. L & S Advisors Inc’s holdings in Chevron were worth $247,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Berkshire Hathaway Inc increased its holdings in Chevron by 14.4% in the 4th quarter. Berkshire Hathaway Inc now owns 126,093,326 shares of the oil and gas company’s stock worth $18,808,081,000 after purchasing an additional 15,845,037 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Chevron by 4.2% in the first quarter. Bank of New York Mellon Corp now owns 16,103,302 shares of the oil and gas company’s stock valued at $2,540,135,000 after buying an additional 654,482 shares during the period. Capital World Investors increased its stake in shares of Chevron by 3.2% in the first quarter. Capital World Investors now owns 16,009,766 shares of the oil and gas company’s stock valued at $2,525,380,000 after buying an additional 495,879 shares during the period. Capital International Investors boosted its position in Chevron by 5.9% during the 1st quarter. Capital International Investors now owns 13,418,287 shares of the oil and gas company’s stock worth $2,116,600,000 after buying an additional 743,042 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in Chevron by 1.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 13,021,023 shares of the oil and gas company’s stock worth $2,036,846,000 after acquiring an additional 126,889 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently issued reports on CVX shares. Scotiabank dropped their price target on shares of Chevron from $195.00 to $180.00 and set a “sector outperform” rating for the company in a research note on Friday, July 12th. Sanford C. Bernstein lowered Chevron from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $183.00 to $167.00 in a research report on Wednesday, July 17th. Royal Bank of Canada cut their target price on Chevron from $190.00 to $180.00 and set an “outperform” rating on the stock in a report on Monday, August 5th. Mizuho decreased their price target on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research note on Monday. Finally, Wolfe Research initiated coverage on Chevron in a research note on Thursday, July 18th. They issued a “peer perform” rating on the stock. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $182.88.

Chevron Stock Performance

Shares of CVX stock opened at $143.46 on Wednesday. The firm has a 50 day moving average of $148.69 and a 200-day moving average of $154.61. The company has a market cap of $262.38 billion, a price-to-earnings ratio of 13.20, a price-to-earnings-growth ratio of 2.41 and a beta of 1.09. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $171.70.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). Chevron had a return on equity of 13.70% and a net margin of 9.31%. The company had revenue of $51.18 billion during the quarter, compared to analyst estimates of $48.68 billion. During the same quarter in the previous year, the business posted $3.08 earnings per share. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. On average, equities analysts forecast that Chevron Co. will post 11.57 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 4.54%. The ex-dividend date was Monday, August 19th. Chevron’s payout ratio is presently 59.98%.

Chevron Company Profile

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.