Los Angeles Capital Management LLC Buys 573,006 Shares of Chevron Co. (NYSE:CVX)

Los Angeles Capital Management LLC raised its stake in shares of Chevron Co. (NYSE:CVXGet Rating) by 60.5% during the 1st quarter, HoldingsChannel.com reports. The firm owned 1,519,860 shares of the oil and gas company’s stock after acquiring an additional 573,006 shares during the quarter. Chevron accounts for 1.0% of Los Angeles Capital Management LLC’s holdings, making the stock its 15th largest position. Los Angeles Capital Management LLC’s holdings in Chevron were worth $247,479,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in CVX. Norges Bank bought a new position in shares of Chevron during the 4th quarter worth about $3,111,594,000. Invesco Ltd. increased its stake in Chevron by 6.8% in the fourth quarter. Invesco Ltd. now owns 14,400,260 shares of the oil and gas company’s stock valued at $1,689,870,000 after acquiring an additional 917,773 shares during the period. Renaissance Technologies LLC increased its stake in Chevron by 28.9% in the fourth quarter. Renaissance Technologies LLC now owns 3,253,895 shares of the oil and gas company’s stock valued at $381,845,000 after acquiring an additional 730,170 shares during the period. Stonegate Investment Group LLC bought a new stake in Chevron in the fourth quarter valued at about $84,849,000. Finally, Geode Capital Management LLC increased its stake in Chevron by 2.1% in the fourth quarter. Geode Capital Management LLC now owns 32,250,237 shares of the oil and gas company’s stock valued at $3,776,323,000 after acquiring an additional 667,875 shares during the period. Institutional investors own 65.89% of the company’s stock.

Chevron Trading Up 1.7 %

CVX opened at $153.64 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.43 and a quick ratio of 1.22. The company has a market cap of $301.87 billion, a price-to-earnings ratio of 10.25, a price-to-earnings-growth ratio of 0.61 and a beta of 1.15. The firm has a 50 day simple moving average of $154.37 and a 200 day simple moving average of $155.35. Chevron Co. has a fifty-two week low of $92.86 and a fifty-two week high of $182.40.

Chevron (NYSE:CVXGet Rating) last posted its quarterly earnings results on Friday, July 29th. The oil and gas company reported $5.82 earnings per share for the quarter, topping analysts’ consensus estimates of $4.66 by $1.16. The business had revenue of $68.76 billion during the quarter, compared to the consensus estimate of $57.69 billion. Chevron had a net margin of 13.45% and a return on equity of 20.19%. Chevron’s revenue for the quarter was up 82.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.71 earnings per share. On average, sell-side analysts anticipate that Chevron Co. will post 17.51 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 12th. Investors of record on Friday, August 19th will be paid a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a dividend yield of 3.70%. The ex-dividend date is Thursday, August 18th. Chevron’s dividend payout ratio (DPR) is 37.89%.

Insider Buying and Selling

In other Chevron news, Director Wanda M. Austin sold 12,039 shares of the company’s stock in a transaction that occurred on Friday, May 27th. The shares were sold at an average price of $177.29, for a total value of $2,134,394.31. Following the completion of the sale, the director now owns 3,543 shares of the company’s stock, valued at $628,138.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Chevron news, Director Wanda M. Austin sold 12,039 shares of the company’s stock in a transaction that occurred on Friday, May 27th. The shares were sold at an average price of $177.29, for a total value of $2,134,394.31. Following the completion of the sale, the director now owns 3,543 shares of the company’s stock, valued at $628,138.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mark A. Nelson sold 117,400 shares of the company’s stock in a transaction that occurred on Tuesday, May 10th. The shares were sold at an average price of $159.47, for a total transaction of $18,721,778.00. Following the completion of the sale, the executive vice president now directly owns 788 shares of the company’s stock, valued at approximately $125,662.36. The disclosure for this sale can be found here. Insiders sold a total of 399,043 shares of company stock valued at $67,010,843 over the last ninety days. Insiders own 0.32% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Societe Generale raised shares of Chevron from a “hold” rating to a “buy” rating in a research note on Thursday. Bank of America upped their target price on shares of Chevron from $178.00 to $180.00 and gave the company a “buy” rating in a research note on Monday, August 1st. Cowen lowered their target price on shares of Chevron from $179.00 to $160.00 and set an “outperform” rating on the stock in a research note on Friday, July 1st. Raymond James upped their target price on shares of Chevron from $173.00 to $191.00 and gave the company an “outperform” rating in a research note on Monday, April 18th. Finally, Wells Fargo & Company boosted their price target on shares of Chevron from $181.00 to $185.00 and gave the company an “overweight” rating in a research report on Monday, August 1st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, Chevron currently has a consensus rating of “Moderate Buy” and an average target price of $173.00.

Chevron Company Profile

(Get Rating)

Chevron Corporation, through its subsidiaries, engages in integrated energy and chemicals operations worldwide. 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 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.

Featured Articles

Want to see what other hedge funds are holding CVX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chevron Co. (NYSE:CVXGet Rating).

Institutional Ownership by Quarter for Chevron (NYSE:CVX)

Receive News & Ratings for Chevron Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chevron and related companies with MarketBeat.com's FREE daily email newsletter.