First Pacific Financial Buys 17,891 Shares of Chevron Corporation $CVX

First Pacific Financial boosted its stake in shares of Chevron Corporation (NYSE:CVX) by 4,874.9% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,258 shares of the oil and gas company’s stock after purchasing an additional 17,891 shares during the quarter. First Pacific Financial’s holdings in Chevron were worth $2,614,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. QTR Family Wealth LLC boosted its position in Chevron by 26.4% during the second quarter. QTR Family Wealth LLC now owns 5,594 shares of the oil and gas company’s stock worth $801,000 after purchasing an additional 1,169 shares during the period. Ninety One UK Ltd boosted its position in shares of Chevron by 47.2% in the second quarter. Ninety One UK Ltd now owns 352,360 shares of the oil and gas company’s stock valued at $50,454,000 after acquiring an additional 112,992 shares during the period. Lynx Investment Advisory boosted its position in shares of Chevron by 2.9% in the second quarter. Lynx Investment Advisory now owns 6,437 shares of the oil and gas company’s stock valued at $922,000 after acquiring an additional 179 shares during the period. Marino Stram & Associates LLC boosted its position in shares of Chevron by 134.6% in the second quarter. Marino Stram & Associates LLC now owns 8,662 shares of the oil and gas company’s stock valued at $1,240,000 after acquiring an additional 4,970 shares during the period. Finally, Rogco LP boosted its position in shares of Chevron by 2.5% in the second quarter. Rogco LP now owns 10,857 shares of the oil and gas company’s stock valued at $1,555,000 after acquiring an additional 266 shares during the period. Institutional investors own 72.42% of the company’s stock.

Insider Buying and Selling at Chevron

In other Chevron news, Director John B. Hess sold 375,000 shares of the stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $158.30, for a total transaction of $59,362,500.00. Following the completion of the transaction, the director directly owned 1,403,045 shares in the company, valued at $222,102,023.50. This represents a 21.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Alana K. Knowles sold 3,978 shares of the stock in a transaction on Friday, August 29th. The stock was sold at an average price of $160.00, for a total value of $636,480.00. Following the transaction, the vice president owned 1,181 shares of the company’s stock, valued at $188,960. This represents a 77.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on CVX shares. Wells Fargo & Company reissued an “overweight” rating and issued a $178.00 price objective on shares of Chevron in a research report on Friday, August 1st. Bank of America increased their price objective on Chevron from $170.00 to $185.00 and gave the company a “buy” rating in a research report on Wednesday, September 10th. TD Cowen increased their price objective on Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a research report on Monday, August 4th. Evercore ISI reissued an “outperform” rating and issued a $180.00 price objective on shares of Chevron in a research report on Thursday, July 31st. Finally, Raymond James Financial reissued an “outperform” rating on shares of Chevron in a research report on Friday, August 1st. Eleven equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $165.05.

Chevron Stock Performance

Chevron stock opened at $154.64 on Thursday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.00 and a quick ratio of 0.74. The stock has a fifty day moving average price of $156.31 and a two-hundred day moving average price of $149.17. Chevron Corporation has a 52-week low of $132.04 and a 52-week high of $168.96. The firm has a market capitalization of $267.21 billion, a P/E ratio of 19.90, a P/E/G ratio of 1.97 and a beta of 0.84.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.19. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The firm had revenue of $44.82 billion during the quarter, compared to analyst estimates of $44.59 billion. During the same period in the prior year, the company posted $2.55 earnings per share. The business’s revenue for the quarter was down 12.4% compared to the same quarter last year. As a group, analysts anticipate that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were paid a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 4.4%. The ex-dividend date was Tuesday, August 19th. Chevron’s dividend payout ratio is currently 88.03%.

Chevron 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.