Chevron Co. (NYSE:CVX) Stock Position Raised by Signature Resources Capital Management LLC

Signature Resources Capital Management LLC lifted its position in Chevron Co. (NYSE:CVX) by 22.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 376 shares of the oil and gas company’s stock after buying an additional 70 shares during the quarter. Signature Resources Capital Management LLC’s holdings in Chevron were worth $54,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Rational Advisors LLC acquired a new position in shares of Chevron during the 3rd quarter valued at about $29,000. Legacy Investment Solutions LLC bought a new stake in Chevron during the third quarter worth approximately $29,000. Darwin Wealth Management LLC acquired a new position in Chevron during the third quarter valued at approximately $30,000. RPg Family Wealth Advisory LLC bought a new position in shares of Chevron in the third quarter valued at approximately $31,000. Finally, Krane Funds Advisors LLC acquired a new stake in shares of Chevron in the third quarter worth $47,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Price Performance

CVX opened at $156.39 on Thursday. The company has a fifty day moving average price of $154.09 and a two-hundred day moving average price of $151.07. The firm has a market capitalization of $281.05 billion, a PE ratio of 17.19, a P/E/G ratio of 1.45 and a beta of 1.12. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.11. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07.

Chevron (NYSE:CVX) last posted its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.47 by $0.04. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The company had revenue of $50.67 billion during the quarter, compared to analyst estimates of $48.86 billion. During the same period in the previous year, the company earned $3.05 EPS. The company’s revenue for the quarter was down 6.3% compared to the same quarter last year. As a group, analysts anticipate that Chevron Co. will post 10.18 earnings per share for the current year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th were issued a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 4.17%. The ex-dividend date of this dividend was Monday, November 18th. Chevron’s dividend payout ratio (DPR) is 71.65%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on CVX shares. Piper Sandler lowered their target price on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Royal Bank of Canada raised their price target on Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Citigroup raised Chevron from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $145.00 to $185.00 in a research report on Tuesday, November 26th. Wells Fargo & Company raised their target price on Chevron from $171.00 to $188.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Finally, Bank of America initiated coverage on Chevron in a report on Thursday, October 17th. They set a “buy” rating and a $168.00 price target for the company. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $175.27.

Insider Activity at Chevron

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the business’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $160.13, for a total value of $26,357,398.00. Following the completion of the transaction, the chief executive officer now directly owns 4,280 shares of the company’s stock, valued at approximately $685,356.40. The trade was a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.20% of the stock is owned by corporate insiders.

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.