EJMK Ventures LLC Invests $544,000 in Chevron Corporation $CVX

EJMK Ventures LLC purchased a new position in Chevron Corporation (NYSE:CVX) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 3,569 shares of the oil and gas company’s stock, valued at approximately $544,000.

Several other institutional investors also recently bought and sold shares of the company. Phillip James Consulting Co. purchased a new position in Chevron in the 4th quarter worth approximately $26,000. Core Wealth Advisors LLC purchased a new position in shares of Chevron in the fourth quarter worth $26,000. Karpus Management Inc. purchased a new position in shares of Chevron in the fourth quarter worth $27,000. Basso Capital Management L.P. bought a new position in shares of Chevron during the fourth quarter valued at $27,000. Finally, Quattro Advisors LLC purchased a new stake in shares of Chevron during the fourth quarter valued at $27,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider R. Hewitt Pate sold 40,200 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider directly owned 8,638 shares of the company’s stock, valued at approximately $1,842,485.40. This trade represents a 82.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John B. Hess sold 380,000 shares of Chevron stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $193.20, for a total transaction of $73,416,000.00. Following the completion of the sale, the director owned 278,045 shares in the company, valued at approximately $53,718,294. This represents a 57.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 615,200 shares of company stock valued at $118,022,760. 0.56% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have issued reports on CVX. Bank of America upped their target price on shares of Chevron from $188.00 to $206.00 and gave the company a “buy” rating in a research note on Monday, March 2nd. Scotiabank raised their target price on shares of Chevron from $168.00 to $187.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 22nd. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $216.00 price objective on shares of Chevron in a report on Wednesday, May 6th. HSBC raised Chevron from a “hold” rating to a “buy” rating and set a $215.00 target price on the stock in a research report on Friday, March 20th. Finally, Tudor Pickering raised shares of Chevron from a “hold” rating to a “buy” rating and set a $225.00 price target for the company in a research report on Thursday, April 9th. Eighteen equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $205.70.

Chevron Trading Down 0.1%

Shares of NYSE:CVX opened at $173.51 on Friday. The stock has a 50 day moving average of $186.63 and a 200 day moving average of $179.01. The company has a market cap of $345.56 billion, a PE ratio of 30.07, a price-to-earnings-growth ratio of 0.57 and a beta of 0.48. Chevron Corporation has a 12-month low of $142.40 and a 12-month high of $214.71. The company has a current ratio of 1.09, a quick ratio of 0.84 and a debt-to-equity ratio of 0.21.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.41. The business had revenue of $47.56 billion for the quarter, compared to the consensus estimate of $51.86 billion. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.18 earnings per share. As a group, equities research analysts expect that Chevron Corporation will post 15.88 EPS for the current year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 19th were issued a $1.78 dividend. This represents a $7.12 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend was Tuesday, May 19th. Chevron’s payout ratio is 123.40%.

Chevron 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.