Pacer Advisors Inc. lowered its stake in shares of Chevron Co. (NYSE:CVX) by 7.4% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 104,139 shares of the oil and gas company’s stock after selling 8,348 shares during the period. Pacer Advisors Inc.’s holdings in Chevron were worth $10,913,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of CVX. Johnson Midwest Financial LLC bought a new position in Chevron during the 4th quarter valued at about $27,000. Joseph P. Lucia & Associates LLC bought a new position in Chevron during the 4th quarter valued at about $28,000. Alpha DNA Investment Management LLC purchased a new stake in shares of Chevron during the 4th quarter valued at about $31,000. BNC Wealth Management LLC purchased a new stake in shares of Chevron during the 3rd quarter valued at about $33,000. Finally, Kathmere Capital Management LLC purchased a new stake in shares of Chevron during the 3rd quarter valued at about $33,000. Institutional investors and hedge funds own 62.27% of the company’s stock.
CVX stock traded down $1.37 during midday trading on Thursday, reaching $102.82. The company’s stock had a trading volume of 186,845 shares, compared to its average volume of 11,355,726. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.97 and a current ratio of 1.26. The stock has a fifty day simple moving average of $104.34 and a two-hundred day simple moving average of $88.55. Chevron Co. has a 1 year low of $65.16 and a 1 year high of $112.70. The firm has a market capitalization of $198.07 billion, a price-to-earnings ratio of -16.97, a PEG ratio of 5.74 and a beta of 1.33.
Chevron (NYSE:CVX) last released its earnings results on Thursday, January 28th. The oil and gas company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.09). Chevron had a positive return on equity of 1.75% and a negative net margin of 10.86%. The business had revenue of $25.25 billion during the quarter, compared to analysts’ expectations of $25.97 billion. During the same quarter in the previous year, the business earned $1.49 EPS. The business’s revenue for the quarter was down 30.5% on a year-over-year basis. As a group, analysts forecast that Chevron Co. will post 0.03 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, March 10th. Stockholders of record on Wednesday, February 17th were given a $1.29 dividend. This represents a $5.16 annualized dividend and a dividend yield of 5.02%. The ex-dividend date of this dividend was Tuesday, February 16th. Chevron’s payout ratio is 82.30%.
In related news, CEO Michael K. Wirth sold 132,000 shares of the company’s stock in a transaction on Tuesday, January 19th. The stock was sold at an average price of $94.73, for a total transaction of $12,504,360.00. Following the completion of the sale, the chief executive officer now directly owns 132,000 shares in the company, valued at approximately $12,504,360. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Pierre R. Breber sold 13,000 shares of the company’s stock in a transaction on Wednesday, January 20th. The stock was sold at an average price of $95.00, for a total value of $1,235,000.00. Following the sale, the chief financial officer now owns 13,686 shares of the company’s stock, valued at $1,300,170. The disclosure for this sale can be found here. Insiders have sold a total of 159,700 shares of company stock valued at $15,133,067 over the last 90 days. 0.28% of the stock is currently owned by company insiders.
Several equities research analysts have recently commented on the stock. HSBC raised shares of Chevron from a “hold” rating to a “buy” rating and upped their price target for the company from $103.00 to $105.00 in a research report on Thursday, January 14th. Scotiabank reissued a “sector perform” rating and issued a $115.00 target price on shares of Chevron in a report on Tuesday, March 16th. Piper Sandler increased their target price on shares of Chevron from $113.00 to $126.00 and gave the stock an “overweight” rating in a report on Thursday, April 1st. Jefferies Financial Group lowered shares of Chevron from a “buy” rating to a “hold” rating and set a $98.00 target price for the company. in a report on Thursday, January 21st. Finally, Wells Fargo & Company dropped their price target on Chevron from $105.00 to $99.00 and set an “equal weight” rating for the company in a research note on Monday, February 1st. Eleven investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. Chevron currently has an average rating of “Buy” and a consensus target price of $110.75.
Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production 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.
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