LS Investment Advisors LLC decreased its holdings in Chevron Co. (NYSE:CVX – Free Report) by 16.9% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,396 shares of the oil and gas company’s stock after selling 3,740 shares during the period. LS Investment Advisors LLC’s holdings in Chevron were worth $3,002,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Rebalance LLC acquired a new position in shares of Chevron in the fourth quarter valued at approximately $26,000. Western Pacific Wealth Management LP acquired a new stake in Chevron during the fourth quarter worth approximately $37,000. Red Tortoise LLC acquired a new stake in Chevron during the fourth quarter worth approximately $37,000. Worth Asset Management LLC acquired a new stake in Chevron during the first quarter worth approximately $36,000. Finally, JDM Financial Group LLC acquired a new stake in Chevron during the fourth quarter worth approximately $42,000. Institutional investors own 69.65% of the company’s stock.
Chevron Stock Down 2.5 %
Shares of CVX opened at $153.58 on Friday. The stock’s 50-day moving average price is $155.83 and its two-hundred day moving average price is $163.85. Chevron Co. has a 12 month low of $136.43 and a 12 month high of $189.68. The company has a current ratio of 1.43, a quick ratio of 1.16 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $290.98 billion, a PE ratio of 8.29, a PEG ratio of 0.80 and a beta of 1.16.
Chevron Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 12th. Stockholders of record on Friday, May 19th were given a $1.51 dividend. This represents a $6.04 annualized dividend and a dividend yield of 3.93%. The ex-dividend date was Thursday, May 18th. Chevron’s dividend payout ratio (DPR) is presently 32.61%.
Analyst Ratings Changes
A number of equities research analysts recently issued reports on the company. Morgan Stanley increased their price target on Chevron from $192.00 to $198.00 in a research report on Tuesday, May 23rd. JPMorgan Chase & Co. upgraded Chevron from an “underweight” rating to a “neutral” rating and upped their target price for the stock from $161.00 to $170.00 in a research note on Wednesday, May 31st. Mizuho upped their target price on Chevron from $202.00 to $205.00 in a research note on Tuesday, July 11th. StockNews.com started coverage on Chevron in a research note on Thursday, May 18th. They set a “hold” rating for the company. Finally, Royal Bank of Canada upgraded Chevron from a “sector perform” rating to an “outperform” rating and increased their price target for the company from $165.00 to $180.00 in a research note on Thursday, June 1st. Eight research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $191.63.
Chevron 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; liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and processing, transportation, storage, and marketing of natural gas, as well as a gas-to-liquids plant.
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