Los Angeles Capital Management LLC Reduces Stake in Chevron Corporation $CVX

Los Angeles Capital Management LLC reduced its position in Chevron Corporation (NYSE:CVX) by 87.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,395 shares of the oil and gas company’s stock after selling 66,123 shares during the period. Los Angeles Capital Management LLC’s holdings in Chevron were worth $1,442,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of CVX. Core Wealth Advisors LLC purchased a new position in Chevron in the 4th quarter valued at approximately $26,000. Strategic Wealth Advisors LLC purchased a new position in Chevron in the 4th quarter valued at approximately $33,000. Daytona Street Capital LLC purchased a new position in Chevron in the 4th quarter valued at approximately $44,000. Maseco LLP purchased a new position in Chevron in the 4th quarter valued at approximately $49,000. Finally, Turning Point Benefit Group Inc. purchased a new position in Chevron in the 3rd quarter valued at approximately $49,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron was highlighted as one of the top oil stocks to buy as energy investors look for resilient names, with articles emphasizing its defensive cash flows and income appeal. Article Title
• Positive Sentiment: Market commentary on Chevron’s Guyana assets pointed to a combined $7.6 billion profit for ExxonMobil and Chevron last year, reinforcing the value of its low-cost production base amid geopolitical tensions. Article Title
• Positive Sentiment: Chevron was also featured in a bullish technical forecast saying momentum is improving and buyers may be regaining control as the stock approaches a breakout level. Article Title
• Positive Sentiment: Reports that Chevron is advancing a major shale project in Argentina’s Vaca Muerta basin and moving closer to approval for a $13.8 billion investment could support future production growth. Article Title
• Neutral Sentiment: Chevron continues to attract attention as a dividend stock for retirement portfolios, which supports the investment case but does not represent a new catalyst. Article Title
• Negative Sentiment: Zacks Research downgraded Chevron from strong-buy to hold, which could temper enthusiasm despite the stock’s otherwise constructive news flow. Article Title

Insiders Place Their Bets

In other Chevron news, insider R. Hewitt Pate sold 40,200 shares of the business’s stock in a transaction dated Monday, March 30th. The stock was sold at an average price of $213.30, for a total transaction of $8,574,660.00. Following the completion of the sale, the insider owned 8,638 shares of the company’s stock, valued at approximately $1,842,485.40. The trade was a 82.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John B. Hess sold 380,000 shares of the business’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $193.20, for a total value of $73,416,000.00. Following the sale, the director directly owned 278,045 shares of the company’s stock, valued at approximately $53,718,294. This trade represents a 57.75% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 615,200 shares of company stock worth $118,022,760 in the last quarter. 0.56% of the stock is owned by insiders.

Chevron Price Performance

Shares of NYSE:CVX opened at $189.89 on Thursday. The company has a market cap of $378.19 billion, a P/E ratio of 32.91, a P/E/G ratio of 0.62 and a beta of 0.48. The company has a quick ratio of 0.84, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. Chevron Corporation has a 52 week low of $142.40 and a 52 week high of $214.71. The business has a fifty day simple moving average of $189.38 and a 200-day simple moving average of $177.75.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.41 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.41. The business had revenue of $47.56 billion during the quarter, compared to the consensus estimate of $51.86 billion. Chevron had a return on equity of 6.90% and a net margin of 5.79%.The business’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.18 earnings per share. Equities research analysts forecast that Chevron Corporation will post 15.74 EPS for the current year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 19th were given a $1.78 dividend. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.7%. Chevron’s payout ratio is currently 123.40%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Scotiabank raised their price objective on Chevron from $168.00 to $187.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 22nd. Mizuho raised their price target on Chevron from $225.00 to $230.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 27th. UBS Group raised their price target on Chevron from $218.00 to $220.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. Melius Research upgraded Chevron from a “hold” rating to a “buy” rating and set a $205.00 price objective on the stock in a report on Tuesday, February 17th. Finally, TD Cowen lifted their price objective on Chevron from $204.00 to $205.00 and gave the company a “hold” rating in a research report on Friday, May 8th. Eighteen equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $205.70.

About Chevron

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.