Chevron Corporation $CVX Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC cut its holdings in shares of Chevron Corporation (NYSE:CVX) by 73.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 30,109 shares of the oil and gas company’s stock after selling 81,426 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Chevron were worth $4,311,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in CVX. Harvest Fund Management Co. Ltd boosted its holdings in Chevron by 420.7% in the first quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 122 shares during the last quarter. Elequin Capital LP purchased a new stake in shares of Chevron in the first quarter worth about $31,000. Quaker Wealth Management LLC grew its holdings in Chevron by 197.7% during the second quarter. Quaker Wealth Management LLC now owns 217 shares of the oil and gas company’s stock worth $31,000 after acquiring an additional 439 shares during the period. Investment Management Corp VA ADV raised its position in Chevron by 171.3% during the first quarter. Investment Management Corp VA ADV now owns 236 shares of the oil and gas company’s stock valued at $39,000 after acquiring an additional 149 shares in the last quarter. Finally, IMG Wealth Management Inc. lifted its holdings in Chevron by 52.3% in the second quarter. IMG Wealth Management Inc. now owns 265 shares of the oil and gas company’s stock valued at $38,000 after acquiring an additional 91 shares during the period. 72.42% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Chevron

In related news, Director John B. Hess sold 375,000 shares of the stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $158.30, for a total value of $59,362,500.00. Following the completion of the transaction, the director directly owned 1,403,045 shares of the company’s stock, valued at approximately $222,102,023.50. This represents a 21.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Alana K. Knowles sold 3,978 shares of the firm’s stock in a transaction on Friday, August 29th. The shares were sold at an average price of $160.00, for a total value of $636,480.00. Following the completion of the transaction, the vice president owned 1,181 shares in the company, valued at $188,960. The trade was a 77.11% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.21% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on CVX. Barclays dropped their price objective on shares of Chevron from $160.00 to $158.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 7th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Chevron in a report on Friday, July 18th. Evercore ISI reissued an “outperform” rating and set a $180.00 target price on shares of Chevron in a research note on Thursday, July 31st. UBS Group lifted their price target on Chevron from $186.00 to $197.00 and gave the company a “buy” rating in a research note on Wednesday, August 20th. Finally, Scotiabank increased their price target on Chevron from $160.00 to $165.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 9th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $165.45.

Chevron Stock Up 0.4%

CVX stock opened at $155.65 on Tuesday. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $168.96. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16. The firm has a 50-day simple moving average of $155.45 and a 200-day simple moving average of $149.92. The stock has a market capitalization of $268.96 billion, a P/E ratio of 20.03, a P/E/G ratio of 4.40 and a beta of 0.83.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, October 31st. The oil and gas company reported $1.85 earnings per share for the quarter, beating analysts’ consensus estimates of $1.71 by $0.14. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The firm had revenue of $48.17 billion for the quarter, compared to analyst estimates of $46.99 billion. During the same period last year, the company posted $2.48 EPS. Chevron’s quarterly revenue was down 1.9% compared to the same quarter last year. Equities analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Tuesday, November 18th will be given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 4.4%. The ex-dividend date is Tuesday, November 18th. Chevron’s payout ratio is presently 96.20%.

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; 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.