Chevron Corporation $CVX Shares Purchased by Pacific Heights Asset Management LLC

Pacific Heights Asset Management LLC boosted its stake in Chevron Corporation (NYSE:CVX) by 9.1% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 300,000 shares of the oil and gas company’s stock after acquiring an additional 25,000 shares during the quarter. Chevron comprises about 1.6% of Pacific Heights Asset Management LLC’s holdings, making the stock its 16th largest holding. Pacific Heights Asset Management LLC’s holdings in Chevron were worth $49,728,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Coastal Bridge Advisors LLC raised its stake in shares of Chevron by 8.9% during the second quarter. Coastal Bridge Advisors LLC now owns 20,267 shares of the oil and gas company’s stock valued at $3,360,000 after purchasing an additional 1,657 shares during the period. Jefferies Financial Group Inc. boosted its stake in shares of Chevron by 157.1% in the second quarter. Jefferies Financial Group Inc. now owns 154,626 shares of the oil and gas company’s stock valued at $25,631,000 after purchasing an additional 94,473 shares during the period. Strive Financial Group LLC grew its holdings in Chevron by 182.8% during the 2nd quarter. Strive Financial Group LLC now owns 3,425 shares of the oil and gas company’s stock valued at $568,000 after purchasing an additional 2,214 shares in the last quarter. Fayez Sarofim & Co increased its stake in Chevron by 2.4% during the 2nd quarter. Fayez Sarofim & Co now owns 6,316,069 shares of the oil and gas company’s stock worth $1,046,952,000 after buying an additional 148,302 shares during the period. Finally, Redwood Investment Management LLC increased its stake in Chevron by 5.9% during the 2nd quarter. Redwood Investment Management LLC now owns 5,274 shares of the oil and gas company’s stock worth $874,000 after buying an additional 293 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Performance

Shares of Chevron stock opened at $199.91 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.98 and a current ratio of 1.25. Chevron Corporation has a 1 year low of $146.49 and a 1 year high of $214.71. The firm’s 50-day simple moving average is $186.87 and its 200-day simple moving average is $188.76. The firm has a market cap of $394.98 billion, a PE ratio of 19.17, a price-to-earnings-growth ratio of 0.60 and a beta of 0.49.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, July 31st. The oil and gas company reported $6.06 EPS for the quarter, topping analysts’ consensus estimates of $5.55 by $0.51. The business had revenue of $67.20 billion during the quarter, compared to the consensus estimate of $62.72 billion. Chevron had a return on equity of 11.09% and a net margin of 9.57%.The company’s revenue for the quarter was up 57.4% compared to the same quarter last year. During the same period last year, the firm earned $1.77 earnings per share. Equities analysts forecast that Chevron Corporation will post 16.17 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be given a $1.78 dividend. The ex-dividend date is Wednesday, August 19th. This represents a $7.12 annualized dividend and a dividend yield of 3.6%. Chevron’s dividend payout ratio (DPR) is presently 68.26%.

Insider Transactions at Chevron

In other news, insider R. Hewitt Pate sold 2,470 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $205.11, for a total value of $506,621.70. Following the completion of the sale, the insider directly owned 10,794 shares in the company, valued at approximately $2,213,957.34. The trade was a 18.62% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Andrew Benjamin Walz sold 16,800 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $201.06, for a total value of $3,377,808.00. Following the sale, the insider directly owned 14 shares in the company, valued at approximately $2,814.84. This represents a 99.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,152,582 shares of company stock valued at $225,853,661 over the last 90 days. Insiders own 0.56% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Mizuho set a $224.00 price objective on shares of Chevron in a research report on Monday, August 3rd. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $220.00 target price on shares of Chevron in a research report on Tuesday, May 5th. Morgan Stanley boosted their price target on Chevron from $210.00 to $218.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 19th. Zacks Research downgraded Chevron from a “strong-buy” rating to a “hold” rating in a report on Monday, June 8th. Finally, Sanford C. Bernstein raised their price objective on Chevron from $204.00 to $209.00 and gave the company a “market perform” rating in a research note on Monday, August 3rd. Twenty research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $207.48.

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.