LSV Asset Management Sells 11,750 Shares of Chevron Co. (NYSE:CVX)

LSV Asset Management lessened its stake in shares of Chevron Co. (NYSE:CVX) by 4.8% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 235,199 shares of the oil and gas company’s stock after selling 11,750 shares during the quarter. LSV Asset Management’s holdings in Chevron were worth $36,790,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. American Capital Advisory LLC raised its position in shares of Chevron by 403.2% in the first quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 125 shares during the period. Frank Rimerman Advisors LLC acquired a new stake in shares of Chevron in the fourth quarter valued at about $30,000. Anfield Capital Management LLC increased its stake in shares of Chevron by 118.0% in the second quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock worth $34,000 after purchasing an additional 118 shares during the period. Cooksen Wealth LLC acquired a new position in shares of Chevron during the 4th quarter worth about $40,000. Finally, Clear Investment Research LLC grew its holdings in Chevron by 264.9% in the 4th quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock valued at $42,000 after buying an additional 204 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Performance

Chevron stock opened at $140.30 on Tuesday. Chevron Co. has a 12-month low of $137.87 and a 12-month high of $171.70. The stock has a 50-day simple moving average of $150.50 and a 200 day simple moving average of $155.16. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $256.60 billion, a price-to-earnings ratio of 12.91, a P/E/G ratio of 2.34 and a beta of 1.09.

Chevron (NYSE:CVX) last announced its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (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 for the quarter, compared to analyst estimates of $48.68 billion. During the same quarter in the previous year, the company posted $3.08 earnings per share. Chevron’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, research analysts anticipate that Chevron Co. will post 11.86 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 19th will be issued a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 4.65%. The ex-dividend date is Monday, August 19th. Chevron’s dividend payout ratio is 59.98%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Sanford C. Bernstein downgraded shares of Chevron from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $183.00 to $167.00 in a research note on Wednesday, July 17th. Wolfe Research initiated coverage on shares of Chevron in a research report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Barclays dropped their price objective on shares of Chevron from $203.00 to $185.00 and set an “overweight” rating on the stock in a report on Tuesday, August 6th. Mizuho increased their target price on shares of Chevron from $200.00 to $205.00 and gave the company a “buy” rating in a research note on Monday, May 13th. Finally, Truist Financial lowered their price target on Chevron from $156.00 to $154.00 and set a “hold” rating on the stock in a research note on Monday, August 5th. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, Chevron presently has a consensus rating of “Moderate Buy” and a consensus target price of $183.82.

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.