Pacific Excel Wealth Advisors Inc. Sells 11,406 Shares of Chevron Corporation $CVX

Key Points

• Pacific Excel Wealth Advisors cut its Chevron stake by 85.1%, selling 11,406 shares and retaining 2,001 shares valued at approximately $332,000.
• Chevron reported stronger-than-expected quarterly results, with EPS of $6.06 and revenue of $67.2 billion, up 57.4% year over year. The company also maintained its quarterly dividend at $1.78, equivalent to a 3.8% annualized yield.
• Institutional investors own 72.42% of Chevron, while insider selling has also been significant, including Director John B. Hess’s sale of 710,665 shares. Analysts maintain a “Moderate Buy” consensus with an average price target of $207.48.

Pacific Excel Wealth Advisors Inc. reduced its holdings in shares of Chevron Corporation (NYSE:CVX - Free Report) by 85.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,001 shares of the oil and gas company's stock after selling 11,406 shares during the period. Pacific Excel Wealth Advisors Inc.'s holdings in Chevron were worth $332,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Norges Bank bought a new stake in shares of Chevron in the 4th quarter worth approximately $3,727,586,000. State Street Corp increased its position in Chevron by 9.1% during 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 buying an additional 12,789,399 shares in the last quarter. Berkshire Hathaway Inc increased its position in Chevron by 6.6% during the 4th 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 in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in Chevron by 822.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 6,211,258 shares of the oil and gas company's stock valued at $946,658,000 after buying an additional 5,537,580 shares during the last quarter. Finally, Aristotle Capital Management LLC raised its stake in Chevron by 653.0% during the first quarter. Aristotle Capital Management LLC now owns 4,526,223 shares of the oil and gas company's stock valued at $936,492,000 after buying an additional 3,925,137 shares during the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Chevron

In other Chevron news, Director John B. Hess sold 710,665 shares of the company's stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $194.10, for a total transaction of $137,940,076.50. Following the transaction, the director owned 363,711 shares in the company, valued at approximately $70,596,305.10. This represents a 66.15% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last quarter, insiders have sold 1,190,665 shares of company stock worth $230,782,076. 0.56% of the stock is currently owned by corporate insiders.

Chevron Stock Performance

Shares of CVX opened at $186.48 on Thursday. The business's fifty day simple moving average is $182.18 and its two-hundred day simple moving average is $185.64. The company has a current ratio of 1.09, a quick ratio of 0.84 and a debt-to-equity ratio of 0.21. Chevron Corporation has a 12 month low of $146.49 and a 12 month high of $214.71. The company has a market cap of $371.40 billion, a price-to-earnings ratio of 17.88, a P/E/G ratio of 0.59 and a beta of 0.49.

Chevron (NYSE:CVX - Get Free Report) last posted its 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. Chevron had a return on equity of 11.14% and a net margin of 9.57%.The business had revenue of $67.20 billion during the quarter, compared to analyst estimates of $62.72 billion. During the same quarter last year, the company earned $1.77 EPS. The company's quarterly revenue was up 57.4% compared to the same quarter last year. Research analysts anticipate that Chevron Corporation will post 15.72 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th will be given a $1.78 dividend. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $7.12 dividend on an annualized basis and a yield of 3.8%. Chevron's payout ratio is 68.26%.

Trending Headlines about Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron’s strong second-quarter performance continues to support the investment case: revenue reached approximately $70.1 billion, net income was $12.1 billion, production increased, and the company maintained its $1.78 quarterly dividend. Higher oil prices and refining margins boosted results. Chevron war-boosted margins and cash flows article
• Positive Sentiment: Chevron was cited among S&P 500 companies expected to generate substantial free cash flow this year, reinforcing its ability to fund dividends, buybacks and debt obligations. Its above-average income yield also makes the stock attractive to dividend-focused investors. Stocks with strong cash flow article
• Positive Sentiment: TD Cowen raised its Chevron price target from $200 to $205, while separate reports indicated that Barclays and Sanford C. Bernstein analysts also expect the shares to rise. However, TD Cowen retained a “hold” rating, limiting the bullish impact. TD Cowen price target report
• Neutral Sentiment: CEO Mike Wirth said Chevron is studying a pipeline route through Iraq toward Syria or Turkey to bypass the Strait of Hormuz. The project could improve Middle East export flexibility, but it remains only under evaluation and faces significant geopolitical and execution risks. Chevron pipeline route article
• Negative Sentiment: Director John B. Hess sold a combined 810,665 Chevron shares worth roughly $157.4 million, sharply reducing his holdings. Although insider sales may reflect personal or transaction-related factors, the size of the sale can weigh on investor sentiment. Chevron SEC insider transaction filing
• Negative Sentiment: President Donald Trump criticized Chevron and ExxonMobil for profiting from elevated gasoline prices and called for companies to reduce consumer fuel prices or return some profits to the public. The comments raise regulatory, political and potential windfall-tax concerns, even though higher energy prices are currently benefiting Chevron’s earnings. Trump criticizes Chevron over profits article

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Morgan Stanley cut their target price on Chevron from $214.00 to $210.00 and set an "overweight" rating on the stock in a research note on Monday, June 29th. Weiss Ratings lowered Chevron from a "hold (c+)" rating to a "hold (c)" rating in a research report on Tuesday, June 2nd. Barclays upped their price target on shares of Chevron from $213.00 to $216.00 and gave the stock an "equal weight" rating in a research note on Monday. Wells Fargo & Company increased their price objective on shares of Chevron from $204.00 to $222.00 and gave the company an "overweight" rating in a research report on Thursday, April 9th. Finally, Tudor Pickering upgraded shares of Chevron from a "hold" rating to a "buy" rating and set a $225.00 price objective for the company in a research note on Thursday, April 9th. Eighteen equities research 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, the stock has a consensus rating of "Moderate Buy" and an average target price of $207.48.

About Chevron

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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