6,982 Shares in Chevron Corporation $CVX Acquired by Pacific Sage Partners LLC

Key Points

• Pacific Sage Partners acquired 6,982 Chevron shares valued at approximately $1.16 million during the second quarter, while institutional investors collectively own 72.42% of the company.
• Analyst sentiment remains positive, with 20 Buy ratings, five Holds and one Sell; Chevron has a consensus rating of “Moderate Buy” and an average price target of $207.48.
• Chevron reported quarterly EPS of $6.06 and revenue of $67.20 billion, beating estimates, and announced a quarterly dividend of $1.78 per share, equivalent to a 3.6% annualized yield.

Pacific Sage Partners LLC acquired a new stake in Chevron Corporation (NYSE:CVX - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 6,982 shares of the oil and gas company's stock, valued at approximately $1,157,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Cornerstone Advisory LLC raised its stake in shares of Chevron by 0.9% in the first quarter. Cornerstone Advisory LLC now owns 5,625 shares of the oil and gas company's stock valued at $1,164,000 after buying an additional 52 shares during the period. Compton Financial Group LLC grew its stake in shares of Chevron by 1.9% during the 1st quarter. Compton Financial Group LLC now owns 2,944 shares of the oil and gas company's stock worth $609,000 after acquiring an additional 56 shares during the period. Quantum Portfolio Management LLC grew its stake in shares of Chevron by 2.7% during the 1st quarter. Quantum Portfolio Management LLC now owns 2,101 shares of the oil and gas company's stock worth $435,000 after acquiring an additional 56 shares during the period. Wealthspire Retirement LLC increased its holdings in Chevron by 0.9% in the 1st quarter. Wealthspire Retirement LLC now owns 6,530 shares of the oil and gas company's stock worth $1,351,000 after acquiring an additional 56 shares during the last quarter. Finally, D.B. Root & Company LLC increased its holdings in Chevron by 1.0% in the 4th quarter. D.B. Root & Company LLC now owns 5,552 shares of the oil and gas company's stock worth $846,000 after acquiring an additional 57 shares during the last quarter. 72.42% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on CVX shares. Weiss Ratings upgraded Chevron from a "hold (c)" rating to a "buy (b)" rating in a research note on Tuesday. Mizuho set a $224.00 target price on shares of Chevron in a research note on Monday, August 3rd. Wolfe Research raised shares of Chevron from a "peer perform" rating to an "outperform" rating and set a $210.00 price target on the stock in a research report on Thursday, July 2nd. Dbs Bank raised shares of Chevron to a "moderate buy" rating in a research report on Thursday, August 6th. Finally, Jefferies Financial Group restated a "buy" rating and set a $216.00 price target on shares of Chevron in a research note on Friday, July 10th. Twenty research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $207.48.

Insider Buying and Selling

In other Chevron news, Director John B. Hess sold 100,000 shares of the stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $194.26, for a total value of $19,426,000.00. Following the sale, the director directly owned 178,045 shares in the company, valued at $34,587,021.70. This represents a 35.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Michael K. Wirth sold 5,547 shares of the firm's stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $187.00, for a total transaction of $1,037,289.00. Following the completion of the transaction, the chief executive officer directly owned 26,308 shares of the company's stock, valued at approximately $4,919,596. The trade was a 17.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,196,212 shares of company stock worth $231,819,366 in the last ninety days. 0.56% of the stock is currently owned by insiders.

Chevron Stock Performance

NYSE:CVX opened at $199.99 on Friday. The business's fifty day moving average is $183.30 and its 200 day moving average is $186.88. The firm has a market cap of $395.13 billion, a price-to-earnings ratio of 19.17, a PEG ratio of 0.61 and a beta of 0.49. 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 52-week low of $146.49 and a 52-week high of $214.71.

Chevron (NYSE:CVX - Get Free Report) last issued its earnings results on Friday, July 31st. The oil and gas company reported $6.06 EPS for the quarter, topping the consensus estimate of $5.55 by $0.51. Chevron had a return on equity of 11.09% and a net margin of 9.57%.The business had revenue of $67.20 billion during the quarter, compared to the consensus estimate of $62.72 billion. During the same quarter last year, the company earned $1.77 EPS. The firm's revenue was up 57.4% compared to the same quarter last year. Research analysts predict that Chevron Corporation will post 15.86 EPS for the current year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be issued a dividend of $1.78 per share. This represents a $7.12 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend is Wednesday, August 19th. Chevron's dividend payout ratio is 68.26%.

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.

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