Chevron Co. (NYSE:CVX) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC lowered its stake in Chevron Co. (NYSE:CVX) by 91.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 51,446 shares of the oil and gas company’s stock after selling 522,994 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Chevron were worth $7,576,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. 1900 Wealth Management LLC lifted its holdings in Chevron by 2.4% in the 3rd quarter. 1900 Wealth Management LLC now owns 7,787 shares of the oil and gas company’s stock valued at $1,228,000 after acquiring an additional 179 shares during the last quarter. Stockman Wealth Management Inc. lifted its holdings in Chevron by 9.7% in the 3rd quarter. Stockman Wealth Management Inc. now owns 65,457 shares of the oil and gas company’s stock valued at $9,640,000 after acquiring an additional 5,769 shares during the last quarter. Meritage Portfolio Management lifted its holdings in Chevron by 41.0% in the 3rd quarter. Meritage Portfolio Management now owns 36,339 shares of the oil and gas company’s stock valued at $5,352,000 after acquiring an additional 10,566 shares during the last quarter. Sanctuary Wealth Management L.L.C. acquired a new stake in Chevron in the 3rd quarter valued at about $48,000. Finally, Tyler Stone Wealth Management lifted its holdings in Chevron by 135.1% in the 3rd quarter. Tyler Stone Wealth Management now owns 4,171 shares of the oil and gas company’s stock valued at $614,000 after acquiring an additional 2,397 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on CVX shares. Scotiabank cut their price target on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Bank of America assumed coverage on shares of Chevron in a report on Thursday, October 17th. They issued a “buy” rating and a $168.00 price target for the company. DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective on the stock in a report on Tuesday, November 5th. Truist Financial boosted their price objective on Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a report on Monday, November 4th. Finally, UBS Group boosted their price objective on Chevron from $192.00 to $194.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $174.93.

Chevron Trading Down 0.2 %

Shares of NYSE CVX opened at $156.55 on Tuesday. The stock has a market cap of $286.31 billion, a price-to-earnings ratio of 17.20, a PEG ratio of 3.51 and a beta of 1.09. The business has a 50 day simple moving average of $147.80 and a 200 day simple moving average of $152.74. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.11. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, beating the consensus estimate of $2.47 by $0.04. The business had revenue of $50.67 billion during the quarter, compared to analysts’ expectations of $48.86 billion. Chevron had a return on equity of 13.07% and a net margin of 8.44%. The firm’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.05 EPS. On average, research analysts predict that Chevron Co. will post 10.59 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 18th will be paid a $1.63 dividend. The ex-dividend date is Monday, November 18th. This represents a $6.52 annualized dividend and a dividend yield of 4.16%. Chevron’s payout ratio is 71.65%.

Chevron Company 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.