Lehman & Derafelo Financial Resources LLC lowered its position in shares of Chevron Co. (NYSE:CVX) by 5.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 38,526 shares of the oil and gas company’s stock after selling 2,314 shares during the quarter. Chevron comprises approximately 1.2% of Lehman & Derafelo Financial Resources LLC’s portfolio, making the stock its 14th biggest position. Lehman & Derafelo Financial Resources LLC’s holdings in Chevron were worth $3,438,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the company. Huntington National Bank increased its holdings in shares of Chevron by 3.1% during the second quarter. Huntington National Bank now owns 502,292 shares of the oil and gas company’s stock valued at $44,820,000 after acquiring an additional 15,108 shares in the last quarter. TradeLink Capital LLC purchased a new position in Chevron in the second quarter worth about $493,000. Mitchell Capital Management Co. boosted its position in Chevron by 0.8% in the second quarter. Mitchell Capital Management Co. now owns 15,721 shares of the oil and gas company’s stock worth $1,403,000 after purchasing an additional 121 shares during the last quarter. State of Michigan Retirement System boosted its position in Chevron by 10.0% in the second quarter. State of Michigan Retirement System now owns 476,777 shares of the oil and gas company’s stock worth $42,543,000 after purchasing an additional 43,409 shares during the last quarter. Finally, Accredited Investors Inc. boosted its position in Chevron by 5.2% in the second quarter. Accredited Investors Inc. now owns 4,684 shares of the oil and gas company’s stock worth $418,000 after purchasing an additional 233 shares during the last quarter. Hedge funds and other institutional investors own 64.60% of the company’s stock.

Chevron stock traded down $2.33 during mid-day trading on Friday, hitting $83.94. The company’s stock had a trading volume of 19,120,651 shares, compared to its average volume of 7,507,398. The company has a 50 day moving average of $88.84 and a 200-day moving average of $92.49. The stock has a market cap of $156.71 billion, a PE ratio of 40.95, a P/E/G ratio of 21.46 and a beta of 1.29. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.78 and a current ratio of 1.01. Chevron Co. has a one year low of $51.60 and a one year high of $125.27.

Chevron (NYSE:CVX) last issued its earnings results on Friday, July 31st. The oil and gas company reported ($1.59) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.93) by ($0.66). Chevron had a return on equity of 8.28% and a net margin of 2.71%. The firm had revenue of $13.95 billion during the quarter, compared to analysts’ expectations of $21.71 billion. During the same quarter in the prior year, the company posted $1.77 earnings per share. Chevron’s quarterly revenue was down 64.1% compared to the same quarter last year. On average, equities research analysts forecast that Chevron Co. will post 0.8 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be paid a dividend of $1.29 per share. This represents a $5.16 dividend on an annualized basis and a dividend yield of 6.15%. The ex-dividend date is Tuesday, August 18th. Chevron’s dividend payout ratio (DPR) is currently 82.30%.

A number of research analysts have recently weighed in on the company. Jefferies Financial Group reaffirmed a “buy” rating and set a $92.00 price objective on shares of Chevron in a research report on Friday, May 1st. cut Chevron from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 9th. Morgan Stanley lifted their price objective on Chevron from $103.00 to $107.00 and gave the company an “overweight” rating in a research report on Tuesday, July 21st. Credit Suisse Group boosted their price target on Chevron from $81.00 to $100.00 and gave the stock an “outperform” rating in a report on Monday, May 4th. Finally, Mizuho lowered their price target on Chevron from $140.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, April 8th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $111.25.

Chevron Profile

Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production of crude oil and natural gas; processing, liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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