Pacer Advisors Inc. Reduces Stock Position in Chevron Corporation $CVX

Pacer Advisors Inc. lessened its position in shares of Chevron Corporation (NYSE:CVX) by 2.1% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 2,914,068 shares of the oil and gas company’s stock after selling 62,738 shares during the period. Chevron makes up approximately 0.7% of Pacer Advisors Inc.’s investment portfolio, making the stock its 16th largest position. Pacer Advisors Inc.’s holdings in Chevron were worth $444,133,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of CVX. State Street Corp raised its stake in Chevron by 9.1% in the 3rd quarter. State Street Corp now owns 152,605,988 shares of the oil and gas company’s stock valued at $23,698,184,000 after purchasing an additional 12,789,399 shares during the last quarter. Berkshire Hathaway Inc raised its position in shares of Chevron by 6.6% in the fourth quarter. Berkshire Hathaway Inc now owns 130,156,362 shares of the oil and gas company’s stock valued at $19,837,131,000 after buying an additional 8,091,570 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Chevron by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 43,613,011 shares of the oil and gas company’s stock valued at $6,620,187,000 after buying an additional 134,890 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Chevron by 2.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 36,036,844 shares of the oil and gas company’s stock worth $5,492,377,000 after acquiring an additional 961,341 shares during the last quarter. Finally, Norges Bank acquired a new stake in Chevron during the fourth quarter worth approximately $3,727,586,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on CVX shares. Scotiabank boosted their price target on Chevron from $168.00 to $187.00 and gave the company a “sector perform” rating in a report on Wednesday, April 22nd. Sanford C. Bernstein decreased their price objective on Chevron from $216.00 to $204.00 and set a “market perform” rating on the stock in a report on Monday, May 11th. Barclays lifted their price objective on Chevron from $192.00 to $213.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 26th. Royal Bank Of Canada reiterated an “outperform” rating and set a $220.00 target price on shares of Chevron in a research report on Tuesday, May 5th. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $216.00 price target on shares of Chevron in a research note on Wednesday, May 6th. Eighteen analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Chevron currently has a consensus rating of “Moderate Buy” and an average target price of $205.70.

Chevron Stock Down 2.3%

Shares of CVX opened at $173.51 on Friday. The firm has a market cap 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. The company’s fifty day moving average is $187.02 and its two-hundred day moving average is $179.05. Chevron Corporation has a fifty-two week low of $142.40 and a fifty-two week high of $214.71. The company has a quick ratio of 0.84, a current ratio of 1.09 and a debt-to-equity ratio of 0.21.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.41. The company had revenue of $47.56 billion during the quarter, compared to analysts’ expectations of $51.86 billion. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the company earned $2.18 EPS. Analysts forecast that Chevron Corporation will post 15.88 earnings per share for the current year.

Chevron Announces Dividend

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

Insider Transactions at Chevron

In other Chevron 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 transaction 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider R. Hewitt Pate sold 40,200 shares of the firm’s stock in a transaction dated Monday, March 30th. The stock was sold at an average price of $213.30, for a total value of $8,574,660.00. Following the completion of the transaction, the insider owned 8,638 shares in the company, valued at approximately $1,842,485.40. This trade represents a 82.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 615,200 shares of company stock valued at $118,022,760. 0.56% of the stock is owned by company insiders.

Trending Headlines about 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

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.