Jump Financial LLC Acquires 38,129 Shares of Chevron Corporation $CVX

Key Points

• Jump Financial LLC increased its stake in Chevron Corporation by 987.5% in Q1, owning nearly 42,000 shares valued at over $7 million.
• Chevron's recent earnings report revealed an EPS of $1.77, surpassing estimates and showing a 12.4% decline in revenue year-over-year.
• The company announced a quarterly dividend of $1.71 per share, which translates to an annualized yield of 4.3%.

Jump Financial LLC grew its holdings in Chevron Corporation (NYSE:CVX - Free Report) by 987.5% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 41,990 shares of the oil and gas company's stock after acquiring an additional 38,129 shares during the period. Jump Financial LLC's holdings in Chevron were worth $7,025,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Eagle Capital Management LLC boosted its holdings in shares of Chevron by 0.7% during the 4th quarter. Eagle Capital Management LLC now owns 34,600 shares of the oil and gas company's stock worth $5,011,000 after buying an additional 242 shares during the period. Bank Pictet & Cie Europe AG lifted its position in Chevron by 7.9% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 35,985 shares of the oil and gas company's stock worth $5,212,000 after acquiring an additional 2,641 shares during the last quarter. Nebula Research & Development LLC boosted its holdings in Chevron by 127.8% during the fourth quarter. Nebula Research & Development LLC now owns 9,208 shares of the oil and gas company's stock valued at $1,334,000 after acquiring an additional 5,165 shares during the period. Prosperity Consulting Group LLC grew its position in shares of Chevron by 6.0% in the fourth quarter. Prosperity Consulting Group LLC now owns 12,067 shares of the oil and gas company's stock valued at $1,748,000 after purchasing an additional 684 shares during the last quarter. Finally, Gerber Kawasaki Wealth & Investment Management grew its position in shares of Chevron by 5.7% in the fourth quarter. Gerber Kawasaki Wealth & Investment Management now owns 4,865 shares of the oil and gas company's stock valued at $705,000 after purchasing an additional 263 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company's stock.

Insider Buying and Selling

In other Chevron news, Director John B. Hess sold 375,000 shares of the firm's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $158.30, for a total value of $59,362,500.00. Following the completion of the transaction, the director directly owned 1,403,045 shares in the company, valued at $222,102,023.50. This trade represents a 21.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.21% of the company's stock.

Chevron Trading Up 0.0%

NYSE CVX traded up $0.05 during trading on Thursday, reaching $159.29. 6,484,732 shares of the stock traded hands, compared to its average volume of 9,321,268. The stock's 50-day moving average price is $151.84 and its 200 day moving average price is $148.78. The firm has a market cap of $275.26 billion, a price-to-earnings ratio of 20.50, a price-to-earnings-growth ratio of 2.33 and a beta of 0.87. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16.

Chevron (NYSE:CVX - Get Free Report) last issued its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, topping the consensus estimate of $1.58 by $0.19. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The business had revenue of $44.82 billion for the quarter, compared to the consensus estimate of $44.59 billion. During the same quarter last year, the business posted $2.55 EPS. The firm's revenue was down 12.4% compared to the same quarter last year. Analysts predict that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th will be paid a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 4.3%. The ex-dividend date of this dividend is Tuesday, August 19th. Chevron's dividend payout ratio (DPR) is currently 88.03%.

Analyst Upgrades and Downgrades

CVX has been the topic of several recent analyst reports. UBS Group lifted their price target on Chevron from $186.00 to $197.00 and gave the stock a "buy" rating in a research report on Wednesday, August 20th. Mizuho lowered their price target on Chevron from $188.00 to $186.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 13th. Melius Research initiated coverage on Chevron in a research report on Wednesday, August 20th. They set a "hold" rating and a $155.00 price objective on the stock. Raymond James Financial reaffirmed an "outperform" rating on shares of Chevron in a research report on Friday, August 1st. Finally, TD Cowen raised their target price on Chevron from $150.00 to $155.00 and gave the stock a "hold" rating in a research report on Monday, August 4th. Eleven equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, Chevron presently has a consensus rating of "Hold" and an average target price of $163.95.

About Chevron

Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production, and transportation of crude oil and natural gas; processing, liquefaction, transportation, and regasification of liquefied natural gas; transportation of crude oil through pipelines; transportation, storage, and marketing of natural gas; and carbon capture and storage, as well as a gas-to-liquids plant.