3,702 Shares in Chevron Corporation $CVX Purchased by EJMK Ventures LLC

EJMK Ventures LLC purchased a new stake in Chevron Corporation (NYSE:CVX) in the second quarter, Holdings Channel.com reports. The institutional investor purchased 3,702 shares of the oil and gas company’s stock, valued at approximately $614,000.

Several other hedge funds have also bought and sold shares of the stock. Cornerstone Advisory LLC increased its holdings in shares of Chevron by 0.9% during the 1st quarter. Cornerstone Advisory LLC now owns 5,625 shares of the oil and gas company’s stock valued at $1,164,000 after purchasing an additional 52 shares in the last quarter. Compton Financial Group LLC boosted 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 worth $609,000 after buying an additional 56 shares in the last quarter. Quantum Portfolio Management LLC grew its position in Chevron by 2.7% during the first quarter. Quantum Portfolio Management LLC now owns 2,101 shares of the oil and gas company’s stock valued at $435,000 after buying an additional 56 shares during the period. Wealthspire Retirement LLC grew its position in Chevron by 0.9% during the first quarter. Wealthspire Retirement LLC now owns 6,530 shares of the oil and gas company’s stock valued at $1,351,000 after buying an additional 56 shares during the period. Finally, D.B. Root & Company LLC increased its holdings in Chevron by 1.0% in the fourth quarter. D.B. Root & Company LLC now owns 5,552 shares of the oil and gas company’s stock valued at $846,000 after buying an additional 57 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Insiders Place Their Bets

In other news, Director John B. Hess sold 710,665 shares of the 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 completion of the sale, the director directly owned 363,711 shares in the company, valued at $70,596,305.10. This represents a 66.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael K. Wirth sold 5,547 shares of the 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 sale, the chief executive officer owned 26,308 shares of the company’s stock, valued at $4,919,596. This trade represents a 17.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 1,196,212 shares of company stock worth $231,819,366 in the last 90 days. 0.56% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CVX. Jefferies Financial Group reissued a “buy” rating and set a $216.00 target price on shares of Chevron in a research note on Friday, July 10th. Dbs Bank upgraded Chevron to a “moderate buy” rating in a research note on Thursday, August 6th. Scotiabank upped their price target on Chevron from $168.00 to $187.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 22nd. UBS Group reiterated a “buy” rating on shares of Chevron in a research report on Tuesday, June 23rd. Finally, Morgan Stanley dropped their price objective on Chevron from $214.00 to $210.00 and set an “overweight” rating on the stock in a report on Monday, June 29th. Twenty equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Chevron currently has a consensus rating of “Moderate Buy” and an average price target of $207.48.

Chevron Stock Up 1.2%

CVX stock opened at $199.99 on Friday. The stock has a market capitalization of $395.13 billion, a P/E ratio of 19.17, a P/E/G ratio of 0.61 and a beta of 0.49. The firm has a 50-day simple moving average of $183.30 and a 200-day simple moving average of $186.88. The company has a quick ratio of 0.98, a current ratio of 1.25 and a debt-to-equity ratio of 0.19. Chevron Corporation has a 52 week low of $146.49 and a 52 week high of $214.71.

Chevron (NYSE:CVX) last released its earnings results on Friday, July 31st. The oil and gas company reported $6.06 earnings per share for the quarter, beating the consensus estimate of $5.55 by $0.51. The business had revenue of $67.20 billion for the quarter, compared to the consensus estimate of $62.72 billion. Chevron had a return on equity of 11.09% and a net margin of 9.57%.The business’s quarterly revenue was up 57.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.77 earnings per share. Equities analysts forecast that Chevron Corporation will post 15.86 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th will be issued a $1.78 dividend. The ex-dividend date is Wednesday, August 19th. This represents a $7.12 dividend on an annualized basis and a yield of 3.6%. Chevron’s dividend payout ratio (DPR) is presently 68.26%.

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.