Signature Wealth Management Partners LLC Boosts Stake in Chevron Corporation $CVX

Signature Wealth Management Partners LLC grew its stake in shares of Chevron Corporation (NYSE:CVX) by 3.0% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,635 shares of the oil and gas company’s stock after buying an additional 105 shares during the period. Signature Wealth Management Partners LLC’s holdings in Chevron were worth $520,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in CVX. Harvest Fund Management Co. Ltd grew its holdings in shares of Chevron by 420.7% during the first quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company’s stock worth $25,000 after buying an additional 122 shares in the last quarter. Elequin Capital LP purchased a new stake in Chevron in the 1st quarter worth approximately $31,000. Cloud Capital Management LLC acquired a new position in Chevron in the 1st quarter valued at $39,000. Investment Management Corp VA ADV lifted its stake in shares of Chevron by 171.3% during the 1st quarter. Investment Management Corp VA ADV now owns 236 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 149 shares during the period. Finally, Cooksen Wealth LLC acquired a new stake in shares of Chevron during the first quarter worth $43,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, VP Alana K. Knowles sold 3,978 shares of Chevron stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $160.00, for a total transaction of $636,480.00. Following the sale, the vice president owned 1,181 shares in the company, valued at $188,960. This trade represents a 77.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John B. Hess sold 375,000 shares of the business’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $158.30, for a total transaction of $59,362,500.00. Following the transaction, the director directly owned 1,403,045 shares in the company, valued at approximately $222,102,023.50. The trade was a 21.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.21% of the company’s stock.

Chevron Price Performance

CVX opened at $153.59 on Friday. Chevron Corporation has a 52-week low of $132.04 and a 52-week high of $168.96. The company has a 50 day moving average of $156.23 and a two-hundred day moving average of $148.99. The company has a market cap of $265.40 billion, a P/E ratio of 19.77, a P/E/G ratio of 1.99 and a beta of 0.84. 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) last posted its earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.19. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The business had revenue of $44.82 billion for the quarter, compared to analyst estimates of $44.59 billion. During the same quarter in the previous year, the business posted $2.55 EPS. The business’s quarterly revenue was down 12.4% on a year-over-year basis. On average, analysts expect that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were given a $1.71 dividend. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.5%. Chevron’s dividend payout ratio is presently 88.03%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CVX. Barclays reiterated an “equal weight” rating on shares of Chevron in a research note on Tuesday, July 15th. Melius Research initiated coverage on shares of Chevron in a research note on Wednesday, August 20th. They set a “hold” rating and a $155.00 price objective for the company. Morgan Stanley assumed coverage on shares of Chevron in a report on Monday, August 4th. They set an “overweight” rating and a $174.00 price objective on the stock. UBS Group boosted their target price on shares of Chevron from $186.00 to $197.00 and gave the company a “buy” rating in a report on Wednesday, August 20th. Finally, Evercore ISI reaffirmed an “outperform” rating and set a $180.00 price target on shares of Chevron in a research note on Thursday, July 31st. Eleven investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $165.05.

Chevron 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.