Pacific Sun Financial Corp Has $1.60 Million Stock Position in Chevron Co. (NYSE:CVX)

Pacific Sun Financial Corp raised its holdings in Chevron Co. (NYSE:CVX) by 0.9% in the 3rd quarter, HoldingsChannel reports. The fund owned 13,462 shares of the oil and gas company’s stock after acquiring an additional 117 shares during the period. Chevron comprises approximately 1.5% of Pacific Sun Financial Corp’s holdings, making the stock its 14th biggest 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 made changes to their positions in the company. W.G. Shaheen & Associates DBA Whitney & Co boosted its stake in Chevron by 0.8% during the second quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 45,014 shares of the oil and gas company’s stock worth $5,602,000 after acquiring an additional 379 shares in the last quarter. Beese Fulmer Investment Management Inc. boosted its stake in Chevron by 0.4% during the second quarter. Beese Fulmer Investment Management Inc. now owns 58,040 shares of the oil and gas company’s stock worth $7,222,000 after acquiring an additional 238 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its stake in Chevron by 74.7% during the second quarter. DekaBank Deutsche Girozentrale now owns 1,387,145 shares of the oil and gas company’s stock worth $171,630,000 after acquiring an additional 592,920 shares in the last quarter. Goodman Financial Corp boosted its stake in Chevron by 1.2% during the second quarter. Goodman Financial Corp now owns 50,084 shares of the oil and gas company’s stock worth $6,232,000 after acquiring an additional 599 shares in the last quarter. Finally, Gratus Capital LLC boosted its stake in Chevron by 7.4% during the second quarter. Gratus Capital LLC now owns 14,591 shares of the oil and gas company’s stock worth $1,816,000 after acquiring an additional 1,002 shares in the last quarter. Hedge funds and other institutional investors own 65.68% of the company’s stock.

Several brokerages recently issued reports on CVX. Barclays began coverage on shares of Chevron in a research note on Monday, August 19th. They set an “overweight” rating and a $145.00 target price on the stock. BMO Capital Markets began coverage on shares of Chevron in a research note on Tuesday, August 20th. They set an “outperform” rating and a $165.00 target price on the stock. JPMorgan Chase & Co. cut their target price 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. ValuEngine raised shares of Chevron from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Cowen cut their target price 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. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $135.88.

Shares of Chevron stock traded down $0.96 during trading hours on Friday, reaching $120.93. The company’s stock had a trading volume of 4,176,056 shares, compared to its average volume of 6,442,372. Chevron Co. has a one year low of $100.22 and a one year high of $127.34. The company has a market capitalization of $231.49 billion, a P/E ratio of 14.66, a P/E/G ratio of 3.25 and a beta of 0.99. The stock’s fifty day simple moving average is $117.65 and its two-hundred day simple moving average is $119.96. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.91 and a current ratio of 1.15.

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 analysts’ consensus estimates of $1.47 by ($0.11). The business had revenue of $36.12 billion during the quarter, compared to the consensus estimate of $37.69 billion. Chevron had a net margin of 8.70% and a return on equity of 8.89%. The firm’s quarterly revenue was down 17.9% on a year-over-year basis. During the same period last year, the business posted $2.11 earnings per share. As a group, research analysts forecast that Chevron Co. will post 6.25 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be issued a $1.19 dividend. 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 currently 57.70%.

In other news, EVP Joseph C. Geagea sold 5,000 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $118.10, for a total value of $590,500.00. Following the completion of the sale, the executive vice president now owns 6,243 shares in the company, valued at $737,298.30. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Joseph C. Geagea sold 8,000 shares of the 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 completion of the sale, the insider now owns 9,243 shares of the company’s stock, valued at approximately $1,132,267.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 91,750 shares of company stock valued at $11,216,850. 0.31% of the stock is currently owned by corporate 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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