J.Safra Asset Management Corp Invests $1.47 Million in Chevron Corporation $CVX

Key Points

• J.Safra Asset Management purchased 8,877 Chevron shares worth approximately $1.47 million in the second quarter, while institutional investors collectively own 72.42% of the company.
• Chevron reported stronger-than-expected quarterly results, with adjusted earnings of $6.06 per share and revenue of $67.20 billion, up 57.4% year over year.
• Analyst sentiment remains positive, with a “Moderate Buy” consensus and an average price target of $207.48; Chevron also declared a quarterly dividend of $1.78 per share, representing a 3.6% yield.

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

Several other large investors also recently bought and sold shares of the business. Flputnam Investment Management Co. acquired a new stake in Chevron in the 2nd quarter valued at about $16,870,000. Global Retirement Partners LLC acquired a new position in shares of Chevron during the 2nd quarter worth approximately $14,276,000. 1ST Source Bank acquired a new position in shares of Chevron during the 2nd quarter worth approximately $6,763,000. Elite Life Management LLC purchased a new stake in shares of Chevron in the second quarter valued at approximately $276,000. Finally, Fielder Capital Group LLC purchased a new stake in shares of Chevron in the second quarter valued at approximately $2,878,000. Hedge funds and other institutional investors own 72.42% of the company's stock.

Insiders Place Their Bets

In related news, Director John B. Hess sold 710,665 shares of the business's stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $194.10, for a total value of $137,940,076.50. Following the sale, the director directly owned 363,711 shares in the company, valued at approximately $70,596,305.10. The trade was a 66.15% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael K. Wirth sold 5,547 shares of the company's stock in a transaction dated 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 transaction, the chief executive officer directly owned 26,308 shares in the company, valued at $4,919,596. The trade was a 17.41% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 1,196,212 shares of company stock valued at $231,819,366. Company insiders own 0.56% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on CVX shares. Sanford C. Bernstein increased their price target on Chevron from $204.00 to $209.00 and gave the company a "market perform" rating in a report on Monday, August 3rd. Dbs Bank raised Chevron to a "moderate buy" rating in a research note on Thursday, August 6th. Bank of America upped their target price on Chevron from $210.00 to $227.00 and gave the company a "buy" rating in a report on Tuesday, July 28th. Mizuho set a $224.00 target price on Chevron in a research note on Monday, August 3rd. Finally, Wolfe Research upgraded Chevron from a "peer perform" rating to an "outperform" rating and set a $210.00 price target on the stock in a report on Thursday, July 2nd. Twenty analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $207.48.

Chevron Stock Down 0.0%

CVX stock opened at $199.99 on Monday. Chevron Corporation has a one year low of $146.49 and a one year high of $214.71. The firm has a market cap of $395.13 billion, a PE ratio of 19.17, a PEG ratio of 0.61 and a beta of 0.49. The firm's 50 day moving average price is $183.30 and its 200-day moving average price is $187.01. 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 - Get Free Report) last issued its quarterly earnings data on Friday, July 31st. The oil and gas company reported $6.06 earnings per share for the quarter, topping the consensus estimate of $5.55 by $0.51. The company had revenue of $67.20 billion during the quarter, compared to analyst estimates of $62.72 billion. Chevron had a return on equity of 11.09% and a net margin of 9.57%.The firm's revenue for the quarter was up 57.4% compared to the same quarter last year. During the same period in the prior year, the business posted $1.77 earnings per share. On average, equities research analysts anticipate that Chevron Corporation will post 15.86 EPS for the current year.

Chevron Announces Dividend

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

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.

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