J.Safra Asset Management Corp Buys Shares of 8,877 Chevron Corporation $CVX

J.Safra Asset Management Corp purchased a new position in shares of Chevron Corporation (NYSE:CVX) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,877 shares of the oil and gas company’s stock, valued at approximately $1,471,000.

Several other hedge funds and other institutional investors have also modified their holdings of CVX. Midwest Capital Advisors LLC purchased a new position in Chevron during the 1st quarter valued at about $25,000. Core Wealth Advisors LLC acquired a new position in Chevron in the 4th quarter valued at about $26,000. Phillip James Consulting Co. purchased a new stake in Chevron during the fourth quarter worth about $26,000. Basso Capital Management L.P. purchased a new stake in Chevron during the fourth quarter worth about $27,000. Finally, Karpus Management Inc. acquired a new stake in shares of Chevron during the fourth quarter worth about $27,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CVX has been the subject of several recent research reports. TD Cowen raised their price objective on shares of Chevron from $200.00 to $205.00 and gave the company a “hold” rating in a research note on Wednesday, August 5th. Mizuho set a $224.00 target price on shares of Chevron in a research note on Monday, August 3rd. Zacks Research lowered shares of Chevron from a “strong-buy” rating to a “hold” rating in a report on Monday, June 8th. Morgan Stanley decreased their price target on shares of Chevron from $214.00 to $210.00 and set an “overweight” rating for the company in a research report on Monday, June 29th. Finally, Barclays boosted 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, August 3rd. Twenty investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $207.48.

Chevron Price Performance

CVX stock opened at $199.99 on Monday. The business’s 50-day moving average is $183.30 and its two-hundred day moving average is $187.01. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.25 and a quick ratio of 0.98. The firm has a market capitalization of $395.13 billion, a P/E ratio of 19.17, a P/E/G ratio of 0.61 and a beta of 0.49. Chevron Corporation has a 1 year low of $146.49 and a 1 year high of $214.71.

Chevron (NYSE:CVX) last announced its quarterly earnings data 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 11.09% and a net margin of 9.57%.The business 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 company posted $1.77 earnings per share. The business’s revenue for the quarter was up 57.4% on a year-over-year basis. Analysts anticipate that Chevron Corporation will post 15.86 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be paid a $1.78 dividend. The ex-dividend date is Wednesday, August 19th. This represents a $7.12 dividend on an annualized basis and a yield of 3.6%. Chevron’s payout ratio is currently 68.26%.

Insider Buying and Selling

In other Chevron news, Director John B. Hess sold 710,665 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the director owned 363,711 shares in the company, valued at $70,596,305.10. The trade was a 66.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Michael K. Wirth sold 5,547 shares of the stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $187.00, for a total transaction of $1,037,289.00. Following the completion of the sale, the chief executive officer directly owned 26,308 shares in the company, valued at approximately $4,919,596. This represents a 17.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 1,196,212 shares of company stock valued at $231,819,366 in the last quarter. 0.56% of the stock is owned by insiders.

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.