Jefferies Financial Group Inc. Acquires 94,473 Shares of Chevron Corporation $CVX

Jefferies Financial Group Inc. lifted its holdings in shares of Chevron Corporation (NYSE:CVX) by 157.1% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 154,626 shares of the oil and gas company’s stock after buying an additional 94,473 shares during the period. Jefferies Financial Group Inc.’s holdings in Chevron were worth $25,631,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Cornerstone Advisory LLC boosted its holdings in Chevron by 0.9% in the first quarter. Cornerstone Advisory LLC now owns 5,625 shares of the oil and gas company’s stock worth $1,164,000 after purchasing an additional 52 shares in the last quarter. Compton Financial Group LLC raised its holdings in Chevron by 1.9% during the first quarter. Compton Financial Group LLC now owns 2,944 shares of the oil and gas company’s stock valued at $609,000 after buying an additional 56 shares in the last quarter. Quantum Portfolio Management LLC lifted its position in shares of Chevron by 2.7% in the first quarter. Quantum Portfolio Management LLC now owns 2,101 shares of the oil and gas company’s stock worth $435,000 after buying an additional 56 shares during the last quarter. Wealthspire Retirement LLC lifted its position in shares of Chevron by 0.9% in the first quarter. Wealthspire Retirement LLC now owns 6,530 shares of the oil and gas company’s stock worth $1,351,000 after buying an additional 56 shares during the last quarter. Finally, D.B. Root & Company LLC boosted its stake in shares of Chevron by 1.0% during the 4th quarter. D.B. Root & Company LLC now owns 5,552 shares of the oil and gas company’s stock worth $846,000 after acquiring an additional 57 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

CVX has been the topic of a number of analyst reports. Morgan Stanley increased their price objective on Chevron from $210.00 to $218.00 and gave the company an “overweight” rating in a report on Wednesday, August 19th. Royal Bank Of Canada restated an “outperform” rating and issued a $220.00 target price on shares of Chevron in a report on Tuesday, May 5th. Barclays decreased their target price on Chevron from $216.00 to $208.00 and set an “equal weight” rating for the company in a research report on Monday, August 17th. Zacks Research downgraded Chevron from a “strong-buy” rating to a “hold” rating in a report on Monday, June 8th. Finally, Sanford C. Bernstein lifted their price target on shares of Chevron from $204.00 to $209.00 and gave the company a “market perform” rating in a research report on Monday, August 3rd. Twenty analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $207.48.

Chevron Price Performance

NYSE CVX opened at $199.91 on Friday. The stock has a 50-day simple moving average of $186.87 and a 200 day simple moving average of $188.76. Chevron Corporation has a twelve month low of $146.49 and a twelve month high of $214.71. The stock has a market capitalization of $394.98 billion, a PE ratio of 19.17, a P/E/G ratio of 0.60 and a beta of 0.49. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.98 and a current ratio of 1.25.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, July 31st. The oil and gas company reported $6.06 EPS for the quarter, topping the consensus estimate of $5.55 by $0.51. Chevron had a return on equity of 11.09% and a net margin of 9.57%.The company had revenue of $67.20 billion for the quarter, compared to the consensus estimate of $62.72 billion. During the same period in the previous year, the business posted $1.77 EPS. The company’s revenue for the quarter was up 57.4% on a year-over-year basis. Research analysts anticipate that Chevron Corporation will post 16.17 EPS for the current year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be given a dividend of $1.78 per share. The ex-dividend date of this dividend 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 68.26%.

Insider Activity at Chevron

In other Chevron news, insider Andrew Benjamin Walz sold 16,800 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $201.06, for a total value of $3,377,808.00. Following the completion of the transaction, the insider owned 14 shares of the company’s stock, valued at $2,814.84. This represents a 99.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John B. Hess sold 710,665 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the director owned 363,711 shares of the company’s stock, valued at $70,596,305.10. This represents a 66.15% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 1,152,582 shares of company stock valued at $225,853,661 in the last 90 days. 0.56% of the stock is owned by company 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.