J.Safra Asset Management Corp Grows Stock Holdings in Chevron Corporation $CVX

J.Safra Asset Management Corp lifted its stake in shares of Chevron Corporation (NYSE:CVX) by 84.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,028 shares of the oil and gas company’s stock after acquiring an additional 3,211 shares during the quarter. J.Safra Asset Management Corp’s holdings in Chevron were worth $1,071,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the company. United Bank lifted its holdings in shares of Chevron by 7.7% in the 2nd quarter. United Bank now owns 11,079 shares of the oil and gas company’s stock worth $1,586,000 after buying an additional 796 shares during the period. Schnieders Capital Management LLC. raised its holdings in shares of Chevron by 9.0% in the second quarter. Schnieders Capital Management LLC. now owns 50,839 shares of the oil and gas company’s stock valued at $7,280,000 after acquiring an additional 4,214 shares in the last quarter. BNP Paribas raised its holdings in shares of Chevron by 76.4% in the second quarter. BNP Paribas now owns 441 shares of the oil and gas company’s stock valued at $63,000 after acquiring an additional 191 shares in the last quarter. Osterweis Capital Management Inc. lifted its stake in Chevron by 678.9% in the second quarter. Osterweis Capital Management Inc. now owns 1,363 shares of the oil and gas company’s stock worth $195,000 after acquiring an additional 1,188 shares during the period. Finally, Main Street Financial Solutions LLC grew its holdings in Chevron by 3.6% during the 2nd quarter. Main Street Financial Solutions LLC now owns 16,052 shares of the oil and gas company’s stock worth $2,299,000 after acquiring an additional 553 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Citigroup raised their target price on shares of Chevron from $210.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday, April 2nd. BNP Paribas Exane raised shares of Chevron from a “neutral” rating to an “outperform” rating and set a $174.00 price objective on the stock in a report on Friday, April 17th. Morgan Stanley boosted their price objective on shares of Chevron from $212.00 to $214.00 and gave the stock an “overweight” rating in a research note on Friday, May 22nd. Weiss Ratings lowered Chevron from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, June 2nd. Finally, Mizuho lifted their price target on Chevron from $225.00 to $230.00 and gave the company an “outperform” rating in a report on Wednesday, May 27th. Eighteen analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $205.70.

Key Headlines Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron was highlighted as one of the top oil stocks to buy as energy investors look for resilient names, with articles emphasizing its defensive cash flows and income appeal. Article Title
• Positive Sentiment: Market commentary on Chevron’s Guyana assets pointed to a combined $7.6 billion profit for ExxonMobil and Chevron last year, reinforcing the value of its low-cost production base amid geopolitical tensions. Article Title
• Positive Sentiment: Chevron was also featured in a bullish technical forecast saying momentum is improving and buyers may be regaining control as the stock approaches a breakout level. Article Title
• Positive Sentiment: Reports that Chevron is advancing a major shale project in Argentina’s Vaca Muerta basin and moving closer to approval for a $13.8 billion investment could support future production growth. Article Title
• Neutral Sentiment: Chevron continues to attract attention as a dividend stock for retirement portfolios, which supports the investment case but does not represent a new catalyst. Article Title
• Negative Sentiment: Zacks Research downgraded Chevron from strong-buy to hold, which could temper enthusiasm despite the stock’s otherwise constructive news flow. Article Title

Insider Transactions at Chevron

In related news, Director John B. Hess sold 380,000 shares of the stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $193.20, for a total value of $73,416,000.00. Following the transaction, the director owned 278,045 shares in the company, valued at approximately $53,718,294. This represents a 57.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider R. Hewitt Pate sold 40,200 shares of Chevron stock in a transaction that occurred on Monday, March 30th. The shares were sold at an average price of $213.30, for a total transaction of $8,574,660.00. Following the sale, the insider owned 8,638 shares of the company’s stock, valued at approximately $1,842,485.40. The trade was a 82.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 615,200 shares of company stock worth $118,022,760 over the last three months. Corporate insiders own 0.56% of the company’s stock.

Chevron Stock Performance

Shares of Chevron stock opened at $189.89 on Thursday. The company has a 50 day moving average price of $189.38 and a 200 day moving average price of $177.75. The firm has a market capitalization of $378.19 billion, a P/E ratio of 32.91, a PEG ratio of 0.62 and a beta of 0.48. The company has a quick ratio of 0.84, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. Chevron Corporation has a 52 week low of $142.40 and a 52 week high of $214.71.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.41. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The business had revenue of $47.56 billion for the quarter, compared to analyst estimates of $51.86 billion. During the same quarter in the prior year, the business posted $2.18 EPS. Chevron’s revenue for the quarter was up 2.1% compared to the same quarter last year. Sell-side analysts expect that Chevron Corporation will post 15.74 EPS for the current year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 19th were paid a dividend of $1.78 per share. This represents a $7.12 annualized dividend and a yield of 3.7%. The ex-dividend date was Tuesday, May 19th. Chevron’s payout ratio is presently 123.40%.

Chevron Company Profile

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.