Pacer Advisors Inc. Decreases Holdings in Chevron Corporation $CVX

Pacer Advisors Inc. lowered its holdings in Chevron Corporation (NYSE:CVX) by 2.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 2,914,068 shares of the oil and gas company’s stock after selling 62,738 shares during the quarter. Chevron comprises 0.7% of Pacer Advisors Inc.’s investment portfolio, making the stock its 16th biggest holding. Pacer Advisors Inc. owned about 0.14% of Chevron worth $444,133,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. D.B. Root & Company LLC increased its stake in Chevron by 1.0% in the fourth quarter. D.B. Root & Company LLC now owns 5,552 shares of the oil and gas company’s stock valued at $846,000 after purchasing an additional 57 shares during the last quarter. Fox Hill Wealth Management lifted its position in shares of Chevron by 1.7% during the 4th quarter. Fox Hill Wealth Management now owns 3,443 shares of the oil and gas company’s stock worth $525,000 after buying an additional 57 shares during the last quarter. Cornerstone Planning Group LLC lifted its position in Chevron by 6.8% in the fourth quarter. Cornerstone Planning Group LLC now owns 930 shares of the oil and gas company’s stock valued at $142,000 after acquiring an additional 59 shares during the last quarter. MMA Asset Management LLC lifted its holdings in shares of Chevron by 3.4% in the 4th quarter. MMA Asset Management LLC now owns 1,820 shares of the oil and gas company’s stock valued at $277,000 after purchasing an additional 59 shares during the last quarter. Finally, EWA LLC grew its position in shares of Chevron by 2.8% during the fourth quarter. EWA LLC now owns 2,182 shares of the oil and gas company’s stock worth $333,000 after acquiring an additional 59 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Key Stories Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron agreed to buy a 70% stake and take operatorship of Greece’s Block 10 offshore concession with HELLENiQ ENERGY, expanding its deepwater exploration footprint in the Eastern Mediterranean and adding a new growth area. Chevron (CVX) Buys 70% Of Greece Offshore Block 10 With HELLENiQ ENERGY
• Positive Sentiment: Jefferies reportedly reiterated a Buy rating on Chevron, which can help support investor sentiment. Chevron (CVX) Receives a Buy from Jefferies
• Neutral Sentiment: Chevron continues to benefit from commentary that investors should look beyond short-term oil price swings, with management emphasizing dividends and long-cycle strategy rather than just commodity prices. Chevron CEO to investors: It’s not just about oil prices
• Neutral Sentiment: A new clean-hydrogen station opened on Chevron property in British Columbia, highlighting the company’s energy-transition infrastructure role, though the direct financial impact appears limited for now. HTEC Opens Canada’s First 700 Bar Commercial Heavy-Duty Clean Hydrogen Station
• Negative Sentiment: Recent articles point to falling crude prices and reduced geopolitical tension after a U.S.-Iran deal, which could weigh on Chevron’s near-term earnings expectations because its profits are sensitive to oil and gas pricing. How Investors Are Reacting To Chevron (CVX) Oil-Price Slide And Argentina Gas Bet After U.S.-Iran Deal

Analysts Set New Price Targets

A number of equities analysts have recently commented on CVX shares. Citigroup lifted their target price on shares of Chevron from $210.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, April 2nd. Weiss Ratings downgraded shares of Chevron from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, June 2nd. Piper Sandler lifted their price objective on shares of Chevron from $179.00 to $242.00 and gave the company an “overweight” rating in a research note on Thursday, March 12th. Morgan Stanley upped their target price on shares of Chevron from $212.00 to $214.00 and gave the company an “overweight” rating in a report on Friday, May 22nd. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $220.00 target price on shares of Chevron in a research note on Tuesday, May 5th. Eighteen research 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. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $205.70.

Chevron Price Performance

Chevron stock opened at $173.51 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.84. The business has a 50 day simple moving average of $187.02 and a 200-day simple moving average of $179.05. Chevron Corporation has a 12 month low of $142.40 and a 12 month high of $214.71. The stock has a market capitalization of $345.56 billion, a PE ratio of 30.07, a price-to-earnings-growth ratio of 0.58 and a beta of 0.48.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.41. The firm had revenue of $47.56 billion for the quarter, compared to analyst estimates of $51.86 billion. Chevron had a net margin of 5.79% and a return on equity of 6.90%. Chevron’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period last year, the firm posted $2.18 EPS. Equities analysts predict that Chevron Corporation will post 15.88 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 19th were issued a $1.78 dividend. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $7.12 annualized dividend and a dividend yield of 4.1%. Chevron’s payout ratio is presently 123.40%.

Insider Activity

In other news, insider R. Hewitt Pate sold 40,200 shares of the business’s stock in a transaction dated Monday, March 30th. The shares were sold at an average price of $213.30, for a total transaction of $8,574,660.00. Following the transaction, the insider directly owned 8,638 shares in the company, valued at $1,842,485.40. The trade was a 82.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John B. Hess sold 380,000 shares of Chevron stock in a transaction that occurred on 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 completion of the sale, the director directly owned 278,045 shares in the company, valued at $53,718,294. This represents a 57.75% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 615,200 shares of company stock worth $118,022,760. Insiders own 0.56% of the company’s stock.

Chevron 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.