Chevron Co. (NYSE:CVX) Shares Sold by Pacer Advisors Inc.

Pacer Advisors Inc. cut its position in shares of Chevron Co. (NYSE:CVX) by 88.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 363,955 shares of the oil and gas company’s stock after selling 2,778,044 shares during the quarter. Pacer Advisors Inc.’s holdings in Chevron were worth $56,930,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Gilbert & Cook Inc. lifted its stake in Chevron by 3.7% in the fourth quarter. Gilbert & Cook Inc. now owns 10,312 shares of the oil and gas company’s stock valued at $1,538,000 after buying an additional 369 shares during the last quarter. Aveo Capital Partners LLC increased its stake in shares of Chevron by 1.0% in the fourth quarter. Aveo Capital Partners LLC now owns 8,617 shares of the oil and gas company’s stock valued at $1,285,000 after purchasing an additional 82 shares during the period. Gryphon Financial Partners LLC raised its holdings in shares of Chevron by 55.0% during the fourth quarter. Gryphon Financial Partners LLC now owns 11,404 shares of the oil and gas company’s stock valued at $1,648,000 after buying an additional 4,047 shares during the last quarter. TrinityPoint Wealth LLC boosted its position in shares of Chevron by 6.8% during the fourth quarter. TrinityPoint Wealth LLC now owns 10,646 shares of the oil and gas company’s stock worth $1,588,000 after buying an additional 680 shares during the period. Finally, AXS Investments LLC grew its holdings in Chevron by 14.1% in the 4th quarter. AXS Investments LLC now owns 1,095 shares of the oil and gas company’s stock worth $163,000 after buying an additional 135 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on CVX. Mizuho cut their target price on Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research note on Monday, September 16th. UBS Group reduced their price target on shares of Chevron from $192.00 to $189.00 and set a “buy” rating for the company in a research note on Wednesday. Scotiabank lowered their price objective on shares of Chevron from $195.00 to $180.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 12th. Royal Bank of Canada cut their target price on Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a research report on Monday, August 5th. Finally, Barclays decreased their target price on Chevron from $203.00 to $185.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Chevron presently has a consensus rating of “Moderate Buy” and an average price target of $182.41.

Chevron Stock Performance

Shares of Chevron stock opened at $145.68 on Friday. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $171.70. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13. The stock has a market cap of $268.48 billion, a PE ratio of 13.40, a price-to-earnings-growth ratio of 2.48 and a beta of 1.09. The business has a fifty day simple moving average of $148.06 and a 200-day simple moving average of $154.48.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). The business had revenue of $51.18 billion for the quarter, compared to analyst estimates of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. The company’s revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.08 earnings per share. On average, sell-side analysts anticipate that Chevron Co. will post 11.48 EPS for the current fiscal year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were paid a $1.63 dividend. The ex-dividend date was Monday, August 19th. This represents a $6.52 annualized dividend and a yield of 4.48%. Chevron’s dividend payout ratio is presently 59.98%.

Chevron Company 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.