J.Safra Asset Management Corp Grows Stock Holdings in Chevron Co. (NYSE:CVX)

J.Safra Asset Management Corp grew its holdings in Chevron Co. (NYSE:CVX) by 78.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,424 shares of the oil and gas company’s stock after acquiring an additional 1,069 shares during the period. J.Safra Asset Management Corp’s holdings in Chevron were worth $347,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Life Planning Partners Inc purchased a new stake in shares of Chevron in the fourth quarter worth about $25,000. Rational Advisors LLC purchased a new stake in Chevron in the 3rd quarter worth approximately $29,000. Legacy Investment Solutions LLC purchased a new stake in Chevron in the 3rd quarter worth approximately $29,000. Darwin Wealth Management LLC purchased a new stake in Chevron in the 3rd quarter worth approximately $30,000. Finally, RPg Family Wealth Advisory LLC purchased a new stake in Chevron during the third quarter worth $31,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, VP Jeff B. Gustavson sold 9,325 shares of Chevron stock in a transaction on Friday, February 7th. The stock was sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the transaction, the vice president now owns 1,057 shares in the company, valued at $161,192.50. The trade was a 89.82 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.20% of the stock is currently owned by company insiders.

Chevron Trading Down 0.7 %

Shares of CVX stock opened at $151.99 on Wednesday. The stock’s fifty day moving average is $153.51 and its two-hundred day moving average is $151.61. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The firm has a market capitalization of $267.59 billion, a P/E ratio of 15.64, a PEG ratio of 1.46 and a beta of 1.11. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a return on equity of 11.44% and a net margin of 8.71%. During the same quarter in the previous year, the company earned $3.45 earnings per share. Research analysts expect that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 4.50%. This is a positive change from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Friday, February 14th. Chevron’s dividend payout ratio (DPR) is 70.37%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $175.00 price target on shares of Chevron in a report on Monday, February 3rd. UBS Group lowered their target price on shares of Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd. Wells Fargo & Company lowered their price target on Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Barclays lowered their price target on Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. Finally, Truist Financial lowered their price target on Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a research report on Tuesday, February 4th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $174.13.

Chevron Company Profile

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.