Pacer Advisors Inc. lowered its stake in Chevron Corporation (NYSE:CVX – Free Report) by 83.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 475,192 shares of the oil and gas company’s stock after selling 2,438,876 shares during the quarter. Pacer Advisors Inc.’s holdings in Chevron were worth $98,317,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. Southern Financial Group LLC bought a new stake in Chevron during the first quarter worth approximately $241,000. PVG Asset Management Corp bought a new position in Chevron during the 1st quarter valued at $257,000. FAS Wealth Partners Inc. increased its position in shares of Chevron by 2.4% during the 1st quarter. FAS Wealth Partners Inc. now owns 47,730 shares of the oil and gas company’s stock valued at $9,875,000 after purchasing an additional 1,097 shares during the period. Farmers National Bank increased its position in shares of Chevron by 9.0% during the 1st quarter. Farmers National Bank now owns 52,412 shares of the oil and gas company’s stock valued at $10,844,000 after purchasing an additional 4,347 shares during the period. Finally, Wealthquest Corp raised its stake in shares of Chevron by 1.2% in the 1st quarter. Wealthquest Corp now owns 5,886 shares of the oil and gas company’s stock worth $1,218,000 after buying an additional 68 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.
Insider Buying and Selling at Chevron
In other news, Director John B. Hess sold 380,000 shares of the company’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $193.20, for a total value of $73,416,000.00. Following the transaction, the director owned 278,045 shares in the company, valued at $53,718,294. This represents a 57.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.56% of the stock is owned by corporate insiders.
Chevron Price Performance
Chevron (NYSE:CVX – Get Free Report) last issued its earnings results on Friday, July 31st. The oil and gas company reported $6.06 EPS for the quarter, topping the consensus estimate of $5.55 by $0.51. Chevron had a return on equity of 11.14% and a net margin of 9.57%.The business had revenue of $67.20 billion during the quarter, compared to analysts’ expectations of $62.72 billion. During the same quarter last year, the firm posted $1.77 earnings per share. Chevron’s revenue was up 57.4% compared to the same quarter last year. Equities analysts expect that Chevron Corporation will post 15.64 earnings per share for the current fiscal year.
Chevron Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th will be paid a dividend of $1.78 per share. This represents a $7.12 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Wednesday, August 19th. Chevron’s payout ratio is 123.40%.
Analyst Upgrades and Downgrades
Several research analysts recently weighed in on CVX shares. Tudor Pickering raised Chevron from a “hold” rating to a “buy” rating and set a $225.00 target price for the company in a research note on Thursday, April 9th. Jefferies Financial Group reissued a “buy” rating and issued a $216.00 price target on shares of Chevron in a report on Friday, July 10th. BNP Paribas Exane upgraded shares of Chevron from a “neutral” rating to an “outperform” rating and set a $174.00 price objective for the company in a research report on Friday, April 17th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $216.00 price objective on shares of Chevron in a research note on Wednesday, May 6th. Finally, Wells Fargo & Company increased their target price on shares of Chevron from $204.00 to $222.00 and gave the company an “overweight” rating in a research note on Thursday, April 9th. Eighteen investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $207.17.
Read Our Latest Analysis on Chevron
More Chevron News
Here are the key news stories impacting Chevron this week:
- Positive Sentiment: Strong earnings beat: Chevron reported adjusted earnings of $12.0 billion, or $6.06 per diluted share, versus analysts’ expectation of $5.55. Reported earnings reached $12.1 billion, the company’s highest quarterly profit in at least six years, while revenue rose 57.4% year over year to $67.2 billion. Chevron records highest quarterly profit in six years, tops estimates
- Positive Sentiment: Higher production and refining performance: Global oil-equivalent production increased 20% to 4.07 million barrels per day, supported by Hess-related assets, the Permian Basin and the Gulf of America. Record U.S. production, strong refining margins and near-full-capacity operations boosted results. CVX Q2 Earnings Beat on Higher Output and Strong Refining Margins
- Positive Sentiment: Excellent cash generation and growth opportunities: Operating cash flow was $22.6 billion, and Chevron maintained its $1.78 quarterly dividend. Management also highlighted expansion plans involving Iraq, Venezuela, Argentina and a 20-year power agreement to supply a Microsoft data center. Chevron CFO on second-quarter earnings, growth plan and Iraq accord
- Neutral Sentiment: Energy-sector tailwind: Rising crude, gasoline and diesel prices, driven by Middle East supply disruptions, lifted Chevron and other integrated oil companies and supported broader energy ETFs. Supermajor Earnings: Exxon and Chevron’s Impact on ETF Market
- Negative Sentiment: Geopolitical and valuation risks remain: Chevron said the conflict reduced output in the Saudi Arabia–Kuwait Partitioned Zone. Executives also warned of escalating supply risks, while potential gasoline-price interventions or windfall taxes could pressure future profits. Analysts noted that some of the earnings improvement may already be reflected in the stock price. Chevron’s Strong Quarter Shows Why It Still Leads the Energy Sector
Chevron Company Profile
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.
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