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

Pacific Excel Wealth Advisors Inc. trimmed its position in Chevron Corporation (NYSE:CVX) by 85.1% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund 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 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Curtis Advisory Group LLC acquired a new stake in Chevron in the fourth quarter valued at approximately $1,381,000. Indivisible Partners purchased a new position in Chevron in the fourth quarter worth $1,923,000. Janney Montgomery Scott LLC increased its position in shares of Chevron by 6.8% during the first quarter. Janney Montgomery Scott LLC now owns 1,251,102 shares of the oil and gas company’s stock worth $258,853,000 after purchasing an additional 79,439 shares in the last quarter. Galaxy Digital Inc. acquired a new position in shares of Chevron during the first quarter worth $2,028,000. Finally, Nations Financial Group Inc. IA ADV lifted its holdings in shares of Chevron by 35.0% during the 4th quarter. Nations Financial Group Inc. IA ADV now owns 42,882 shares of the oil and gas company’s stock valued at $6,536,000 after purchasing an additional 11,120 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director John B. Hess sold 710,665 shares of the company’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $194.10, for a total value of $137,940,076.50. Following the sale, the director owned 363,711 shares in the company, valued at $70,596,305.10. This represents a 66.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders sold 1,190,665 shares of company stock valued at $230,782,076. Insiders own 0.56% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CVX. BNP Paribas Exane raised Chevron from a “neutral” rating to an “outperform” rating and set a $174.00 price objective for the company in a research report on Friday, April 17th. 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. Tudor Pickering upgraded Chevron from a “hold” rating to a “buy” rating and set a $225.00 price target for the company in a research note on Thursday, April 9th. Wells Fargo & Company raised their price target on Chevron from $204.00 to $222.00 and gave the stock an “overweight” rating in a report on Thursday, April 9th. Finally, Weiss Ratings lowered Chevron from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, June 2nd. Eighteen analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given 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 price target of $207.48.

More Chevron News

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

Chevron Stock Down 2.1%

NYSE:CVX opened at $186.48 on Thursday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.84. The company’s fifty day moving average price is $182.18 and its 200-day moving average price is $185.64. Chevron Corporation has a 1-year low of $146.49 and a 1-year high of $214.71. The firm has a market capitalization of $371.40 billion, a P/E ratio of 17.88, a PEG ratio of 0.59 and a beta of 0.49.

Chevron (NYSE:CVX) last posted its earnings results on Friday, July 31st. The oil and gas company reported $6.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.55 by $0.51. Chevron had a net margin of 9.57% and a return on equity of 11.14%. The company had revenue of $67.20 billion during the quarter, compared to the consensus estimate of $62.72 billion. During the same period in the previous year, the firm posted $1.77 earnings per share. The firm’s quarterly revenue was up 57.4% on a year-over-year basis. As a group, equities research analysts anticipate that Chevron Corporation will post 15.72 EPS for the current year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be issued a $1.78 dividend. This represents a $7.12 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend is Wednesday, August 19th. Chevron’s payout ratio is 68.26%.

Chevron 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.