Signet Financial Management LLC Has $979,000 Stock Holdings in Chevron Corporation $CVX

Signet Financial Management LLC cut its position in Chevron Corporation (NYSE:CVX) by 79.9% during the 1st quarter, HoldingsChannel reports. The firm owned 4,730 shares of the oil and gas company’s stock after selling 18,793 shares during the quarter. Signet Financial Management LLC’s holdings in Chevron were worth $979,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CVX. Cornerstone Advisory LLC raised its holdings in Chevron by 0.9% during the 1st quarter. Cornerstone Advisory LLC now owns 5,625 shares of the oil and gas company’s stock worth $1,164,000 after buying an additional 52 shares during the period. Compton Financial Group LLC increased its position in shares of 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 acquiring an additional 56 shares in the last quarter. Quantum Portfolio Management LLC raised its holdings in shares of 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 worth $435,000 after acquiring an additional 56 shares during the period. D.B. Root & Company LLC raised its holdings in shares of Chevron by 1.0% during the fourth quarter. D.B. Root & Company LLC now owns 5,552 shares of the oil and gas company’s stock worth $846,000 after acquiring an additional 57 shares during the period. Finally, Chatterton & Associates Inc. raised its holdings in shares of Chevron by 1.7% during the first quarter. Chatterton & Associates Inc. now owns 3,427 shares of the oil and gas company’s stock worth $652,000 after acquiring an additional 57 shares during the period. 72.42% of the stock is owned by institutional investors.

Chevron Stock Down 0.1%

Chevron stock opened at $181.55 on Thursday. The firm has a market capitalization of $361.58 billion, a PE ratio of 31.46, a P/E/G ratio of 0.64 and a beta of 0.50. The company’s 50-day moving average is $181.39 and its 200-day moving average is $182.17. Chevron Corporation has a fifty-two week low of $146.49 and a fifty-two week high of $214.71. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.84.

Chevron (NYSE:CVX) last issued its earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $51.86 billion. During the same period last year, the business posted $2.18 EPS. Chevron’s revenue was up 2.1% on a year-over-year basis. Sell-side analysts anticipate that Chevron Corporation will post 14.75 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 19th were paid a $1.78 dividend. The ex-dividend date was Tuesday, May 19th. This represents a $7.12 annualized dividend and a yield of 3.9%. Chevron’s dividend payout ratio is currently 123.40%.

More Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron was highlighted as being “poised to beat earnings estimates again,” with articles pointing to its strong history of earnings surprises and favorable setup for the next quarterly report. Why Chevron (CVX) is Poised to Beat Earnings Estimates Again
• Positive Sentiment: Reuters-reported news that Chevron is offering its chemical technology to rival shale drillers could support future royalty, service, and technology-related revenue while reinforcing the company’s innovation story. Chevron (CVX) Offers Rival Drillers Chemical Technology to Increase Shale Oil Output, Reuters Reports
• Positive Sentiment: Several analyst and screening pieces continued to frame Chevron as an attractive dividend/blue-chip energy name, with BMO Capital reiterating a Buy rating and other commentary calling it a strong dividend aristocrat pick. BMO Capital Sticks to Its Buy Rating for Chevron (CVX)
• Positive Sentiment: Chevron is also being discussed as a beneficiary of stronger crude prices, which can improve upstream margins and earnings power if oil holds up. Shell, BP, and other energy stocks jump as crude oil prices rebound

Insider Activity

In other news, Director John B. Hess sold 380,000 shares of Chevron stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $193.20, for a total transaction of $73,416,000.00. Following the completion of the transaction, the director directly owned 278,045 shares in the company, valued at approximately $53,718,294. The trade was a 57.75% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.56% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on CVX shares. HSBC raised shares of Chevron from a “hold” rating to a “buy” rating and set a $215.00 target price for the company in a research note on Friday, March 20th. Jefferies Financial Group reissued a “buy” rating and issued a $216.00 price target on shares of Chevron in a research note on Friday, July 10th. Wells Fargo & Company boosted their price target on Chevron from $204.00 to $222.00 and gave the company an “overweight” rating in a report on Thursday, April 9th. Scotiabank upped their price objective on Chevron from $168.00 to $187.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 22nd. Finally, Mizuho increased their price objective on Chevron from $225.00 to $230.00 and gave the stock an “outperform” rating in a report on Wednesday, May 27th. Nineteen analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $206.83.

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.