Pacer Advisors Inc. Trims Holdings in Chevron Co. (NYSE:CVX)

Pacer Advisors Inc. decreased its stake in shares of Chevron Co. (NYSE:CVX) by 7.4% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 104,139 shares of the oil and gas company’s stock after selling 8,348 shares during the quarter. Pacer Advisors Inc.’s holdings in Chevron were worth $10,913,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the stock. Advisory Resource Group lifted its position in Chevron by 2.4% during the fourth quarter. Advisory Resource Group now owns 4,446 shares of the oil and gas company’s stock worth $375,000 after buying an additional 106 shares in the last quarter. Grandview Asset Management LLC lifted its position in Chevron by 3.9% during the fourth quarter. Grandview Asset Management LLC now owns 2,949 shares of the oil and gas company’s stock worth $249,000 after buying an additional 112 shares in the last quarter. Ellenbecker Investment Group lifted its position in Chevron by 3.0% during the fourth quarter. Ellenbecker Investment Group now owns 3,870 shares of the oil and gas company’s stock worth $327,000 after buying an additional 113 shares in the last quarter. Sowa Financial Group Inc. lifted its position in Chevron by 20.3% during the fourth quarter. Sowa Financial Group Inc. now owns 724 shares of the oil and gas company’s stock worth $61,000 after buying an additional 122 shares in the last quarter. Finally, Aries Wealth Management lifted its position in Chevron by 1.0% during the fourth quarter. Aries Wealth Management now owns 11,838 shares of the oil and gas company’s stock worth $1,078,000 after buying an additional 122 shares in the last quarter. Hedge funds and other institutional investors own 62.27% of the company’s stock.

A number of research firms have commented on CVX. Jefferies Financial Group downgraded Chevron from a “buy” rating to a “hold” rating and set a $98.00 target price on the stock. in a research report on Thursday, January 21st. Citigroup began coverage on Chevron in a research report on Wednesday, March 10th. They issued a “neutral” rating and a $105.00 target price on the stock. Barclays lifted their target price on Chevron from $108.00 to $110.00 and gave the company an “overweight” rating in a research report on Thursday, January 14th. Morgan Stanley lifted their target price on Chevron from $113.00 to $127.00 and gave the company an “overweight” rating in a research report on Wednesday, March 17th. Finally, DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $124.00 target price on the stock in a research report on Wednesday, March 17th. Eleven equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. Chevron has a consensus rating of “Buy” and an average target price of $110.75.

In other news, VP Rhonda J. Morris sold 14,700 shares of the company’s stock in a transaction dated Thursday, January 14th. The stock was sold at an average price of $94.81, for a total transaction of $1,393,707.00. Following the completion of the transaction, the vice president now directly owns 8,014 shares of the company’s stock, valued at approximately $759,807.34. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Michael K. Wirth sold 132,000 shares of the company’s stock in a transaction dated Tuesday, January 19th. The stock was sold at an average price of $94.73, for a total value of $12,504,360.00. Following the transaction, the chief executive officer now directly owns 132,000 shares of the company’s stock, valued at $12,504,360. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 159,700 shares of company stock valued at $15,133,067. Insiders own 0.28% of the company’s stock.

CVX traded down $1.37 on Thursday, hitting $102.82. 186,845 shares of the company were exchanged, compared to its average volume of 11,355,726. Chevron Co. has a twelve month low of $65.16 and a twelve month high of $112.70. The company has a market cap of $198.07 billion, a price-to-earnings ratio of -16.97, a price-to-earnings-growth ratio of 5.74 and a beta of 1.33. The company has a current ratio of 1.26, a quick ratio of 0.97 and a debt-to-equity ratio of 0.26. The firm has a 50-day moving average price of $104.34 and a two-hundred day moving average price of $88.55.

Chevron (NYSE:CVX) last released its earnings results on Thursday, January 28th. The oil and gas company reported ($0.01) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by ($0.09). Chevron had a positive return on equity of 1.75% and a negative net margin of 10.86%. The company had revenue of $25.25 billion for the quarter, compared to analyst estimates of $25.97 billion. During the same period in the previous year, the firm earned $1.49 earnings per share. The company’s revenue for the quarter was down 30.5% compared to the same quarter last year. Equities analysts expect that Chevron Co. will post 0.03 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 10th. Stockholders of record on Wednesday, February 17th were given a dividend of $1.29 per share. The ex-dividend date was Tuesday, February 16th. This represents a $5.16 annualized dividend and a dividend yield of 5.02%. Chevron’s dividend payout ratio is currently 82.30%.

About Chevron

Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production of crude oil and natural gas; processing, liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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