Los Angeles Capital Management LLC Raises Holdings in Chevron Corporation (NYSE:CVX)

Los Angeles Capital Management LLC grew its position in shares of Chevron Corporation (NYSE:CVX - Free Report) by 367.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 111,535 shares of the oil and gas company's stock after purchasing an additional 87,698 shares during the period. Los Angeles Capital Management LLC's holdings in Chevron were worth $18,659,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Wealth Alliance LLC raised its stake in shares of Chevron by 17.0% during the first quarter. Wealth Alliance LLC now owns 22,174 shares of the oil and gas company's stock valued at $3,709,000 after acquiring an additional 3,223 shares in the last quarter. Cannon Financial Strategists Inc. bought a new stake in shares of Chevron during the first quarter valued at approximately $222,000. Bingham Private Wealth LLC raised its stake in shares of Chevron by 2.1% during the first quarter. Bingham Private Wealth LLC now owns 6,534 shares of the oil and gas company's stock valued at $1,093,000 after acquiring an additional 137 shares in the last quarter. Meridian Wealth Advisors LLC raised its stake in shares of Chevron by 1.2% during the first quarter. Meridian Wealth Advisors LLC now owns 9,826 shares of the oil and gas company's stock valued at $1,644,000 after acquiring an additional 113 shares in the last quarter. Finally, Lindbrook Capital LLC raised its stake in shares of Chevron by 14.6% during the first quarter. Lindbrook Capital LLC now owns 14,036 shares of the oil and gas company's stock valued at $2,348,000 after acquiring an additional 1,785 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CVX. Barclays reissued an "equal weight" rating on shares of Chevron in a report on Tuesday, July 15th. Scotiabank reissued a "sector perform" rating and set a $160.00 price objective (up from $143.00) on shares of Chevron in a report on Friday, July 11th. BNP Paribas lowered shares of Chevron to a "cautious" rating in a report on Tuesday, April 15th. Redburn Atlantic reissued a "sell" rating and set a $124.00 price objective (down from $156.00) on shares of Chevron in a report on Wednesday, April 23rd. Finally, HSBC lowered shares of Chevron from a "buy" rating to a "hold" rating and cut their price objective for the company from $176.00 to $158.00 in a report on Tuesday, May 13th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $161.31.

Chevron Stock Down 1.1%

Shares of NYSE:CVX opened at $149.79 on Monday. The stock has a market capitalization of $261.59 billion, a price-to-earnings ratio of 17.12, a price-to-earnings-growth ratio of 2.48 and a beta of 0.83. Chevron Corporation has a 1-year low of $132.04 and a 1-year high of $168.96. The company's fifty day moving average is $144.04 and its two-hundred day moving average is $148.68. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.82 and a current ratio of 1.08.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, topping analysts' consensus estimates of $2.15 by $0.03. The business had revenue of $47.61 billion for the quarter, compared to analysts' expectations of $49.05 billion. Chevron had a net margin of 7.76% and a return on equity of 10.73%. The company's revenue for the quarter was down 2.3% compared to the same quarter last year. During the same quarter last year, the company earned $2.93 EPS. Equities analysts anticipate that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th were paid a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 4.57%. The ex-dividend date of this dividend was Monday, May 19th. Chevron's dividend payout ratio is presently 78.17%.

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.

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