Lynch & Associates IN Reduces Holdings in Chevron Co. (NYSE:CVX)

Lynch & Associates IN lowered its position in Chevron Co. (NYSE:CVX) by 1.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 52,742 shares of the oil and gas company’s stock after selling 936 shares during the period. Chevron makes up approximately 1.9% of Lynch & Associates IN’s investment portfolio, making the stock its 14th largest holding. Lynch & Associates IN’s holdings in Chevron were worth $8,823,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. Geode Capital Management LLC boosted its position in Chevron by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 36,269,270 shares of the oil and gas company’s stock valued at $5,247,142,000 after buying an additional 392,916 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Chevron by 2.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 31,855,566 shares of the oil and gas company’s stock worth $4,613,960,000 after buying an additional 746,806 shares during the period. Norges Bank acquired a new position in shares of Chevron during the 4th quarter worth approximately $3,017,750,000. Northern Trust Corp raised its stake in Chevron by 7.3% in the 4th quarter. Northern Trust Corp now owns 20,471,800 shares of the oil and gas company’s stock valued at $2,965,135,000 after purchasing an additional 1,394,091 shares during the last quarter. Finally, Fisher Asset Management LLC raised its stake in Chevron by 2.1% in the 4th quarter. Fisher Asset Management LLC now owns 19,892,848 shares of the oil and gas company’s stock valued at $2,881,280,000 after purchasing an additional 410,460 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Trading Up 0.1%

CVX opened at $146.07 on Tuesday. The firm has a market cap of $255.09 billion, a price-to-earnings ratio of 15.03, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83. Chevron Co. has a 52 week low of $132.04 and a 52 week high of $168.96. The business’s 50 day moving average is $138.72 and its two-hundred day moving average is $148.91. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13.

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

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th were paid a $1.71 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.68%. Chevron’s dividend payout ratio (DPR) is currently 78.17%.

Analyst Ratings Changes

CVX has been the subject of several recent research reports. BNP Paribas downgraded Chevron to a “cautious” rating in a research note on Tuesday, April 15th. HSBC cut Chevron from a “buy” rating to a “hold” rating and dropped their target price for the company from $176.00 to $158.00 in a report on Tuesday, May 13th. TD Cowen dropped their target price on Chevron from $155.00 to $150.00 and set a “hold” rating for the company in a report on Monday, May 5th. Mizuho dropped their target price on Chevron from $188.00 to $186.00 and set an “outperform” rating for the company in a report on Tuesday, May 13th. Finally, Wells Fargo & Company dropped their target price on Chevron from $173.00 to $164.00 and set an “overweight” rating for the company in a report on Monday, May 5th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Chevron currently has an average rating of “Hold” and an average price target 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.