Pacific Sun Financial Corp Purchases 117 Shares of Chevron Co. (NYSE:CVX)

Pacific Sun Financial Corp lifted its position in shares of Chevron Co. (NYSE:CVX) by 0.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,462 shares of the oil and gas company’s stock after purchasing an additional 117 shares during the quarter. Chevron accounts for 1.5% of Pacific Sun Financial Corp’s portfolio, making the stock its 14th largest position. Pacific Sun Financial Corp’s holdings in Chevron were worth $1,597,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Community Bank of Raymore lifted its position in Chevron by 12.7% in the 3rd quarter. Community Bank of Raymore now owns 3,062 shares of the oil and gas company’s stock valued at $363,000 after acquiring an additional 345 shares in the last quarter. Gilbert & Cook Inc. lifted its position in Chevron by 11.1% in the 3rd quarter. Gilbert & Cook Inc. now owns 3,049 shares of the oil and gas company’s stock valued at $362,000 after acquiring an additional 304 shares in the last quarter. Parkside Financial Bank & Trust lifted its position in Chevron by 26.1% in the 3rd quarter. Parkside Financial Bank & Trust now owns 10,068 shares of the oil and gas company’s stock valued at $1,194,000 after acquiring an additional 2,086 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its position in Chevron by 1.5% in the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 41,424 shares of the oil and gas company’s stock valued at $4,913,000 after acquiring an additional 617 shares in the last quarter. Finally, Taylor Hoffman Wealth Management lifted its position in Chevron by 28.0% in the 3rd quarter. Taylor Hoffman Wealth Management now owns 9,155 shares of the oil and gas company’s stock valued at $1,086,000 after acquiring an additional 2,000 shares in the last quarter. 65.68% of the stock is currently owned by institutional investors.

CVX has been the topic of several recent research reports. BMO Capital Markets initiated coverage on shares of Chevron in a research note on Tuesday, August 20th. They issued an “outperform” rating and a $165.00 price target on the stock. JPMorgan Chase & Co. lowered their price target on shares of Chevron from $142.00 to $139.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. Independent Research set a $127.00 price target on shares of Chevron and gave the company a “neutral” rating in a research note on Thursday, August 29th. Cowen lowered their price target on shares of Chevron from $140.00 to $134.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Finally, Morgan Stanley lowered their price target on shares of Chevron from $144.00 to $142.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. Five analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Chevron has an average rating of “Buy” and an average target price of $135.88.

Shares of Chevron stock traded down $0.96 during trading on Friday, hitting $120.93. 4,176,056 shares of the stock were exchanged, compared to its average volume of 6,442,372. The stock has a market capitalization of $231.49 billion, a price-to-earnings ratio of 14.66, a price-to-earnings-growth ratio of 3.25 and a beta of 0.99. The company has a fifty day moving average price of $117.65 and a 200-day moving average price of $119.96. Chevron Co. has a 1-year low of $100.22 and a 1-year high of $127.34. The company has a current ratio of 1.15, a quick ratio of 0.91 and a debt-to-equity ratio of 0.16.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, November 1st. The oil and gas company reported $1.36 earnings per share for the quarter, missing the consensus estimate of $1.47 by ($0.11). The firm had revenue of $36.12 billion for the quarter, compared to analyst estimates of $37.69 billion. Chevron had a return on equity of 8.89% and a net margin of 8.70%. The firm’s revenue for the quarter was down 17.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.11 earnings per share. Equities research analysts forecast that Chevron Co. will post 6.25 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be paid a dividend of $1.19 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $4.76 annualized dividend and a dividend yield of 3.94%. Chevron’s dividend payout ratio is presently 57.70%.

In other news, insider Joseph C. Geagea sold 8,000 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $122.50, for a total transaction of $980,000.00. Following the transaction, the insider now directly owns 9,243 shares in the company, valued at approximately $1,132,267.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Joseph C. Geagea sold 5,000 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $118.10, for a total transaction of $590,500.00. Following the transaction, the executive vice president now owns 6,243 shares in the company, valued at $737,298.30. The disclosure for this sale can be found here. Insiders have sold a total of 91,750 shares of company stock worth $11,216,850 over the last 90 days. 0.31% of the stock is owned by company insiders.

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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