Signaturefd LLC Has $3.31 Million Stake in Chevron Co. (NYSE:CVX)

Signaturefd LLC increased its holdings in shares of Chevron Co. (NYSE:CVX) by 5.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,874 shares of the oil and gas company’s stock after acquiring an additional 1,113 shares during the quarter. Signaturefd LLC’s holdings in Chevron were worth $3,313,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in CVX. Creative Financial Designs Inc. ADV lifted its stake in shares of Chevron by 53.5% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 21,721 shares of the oil and gas company’s stock worth $3,146,000 after buying an additional 7,567 shares during the last quarter. IMG Wealth Management Inc. acquired a new stake in Chevron during the fourth quarter worth approximately $25,000. RS Crum Inc. lifted its position in Chevron by 68.6% during the fourth quarter. RS Crum Inc. now owns 4,230 shares of the oil and gas company’s stock worth $613,000 after acquiring an additional 1,721 shares during the last quarter. Signature Wealth Management Group boosted its holdings in shares of Chevron by 7.1% during the fourth quarter. Signature Wealth Management Group now owns 26,643 shares of the oil and gas company’s stock worth $3,859,000 after acquiring an additional 1,759 shares during the period. Finally, SlateStone Wealth LLC increased its stake in shares of Chevron by 2.5% during the fourth quarter. SlateStone Wealth LLC now owns 99,769 shares of the oil and gas company’s stock worth $14,451,000 after purchasing an additional 2,451 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Performance

Chevron stock opened at $157.10 on Monday. The business has a 50 day moving average of $155.03 and a 200-day moving average of $152.06. The company has a market capitalization of $276.59 billion, a P/E ratio of 16.16, a P/E/G ratio of 1.46 and a beta of 1.08. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a net margin of 8.71% and a return on equity of 11.44%. During the same quarter in the prior year, the company posted $3.45 EPS. On average, equities research analysts predict that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were given a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.35%. The ex-dividend date of this dividend was Friday, February 14th. This is a positive change from Chevron’s previous quarterly dividend of $1.63. Chevron’s payout ratio is 70.37%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on CVX shares. Piper Sandler reduced their price target on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Wells Fargo & Company decreased their price target on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Raymond James dropped their price objective on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research note on Monday, February 3rd. Truist Financial decreased their target price on shares of Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a research report on Tuesday, February 4th. Finally, Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and raised their target price for the stock from $145.00 to $185.00 in a report on Tuesday, November 26th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $174.13.

Insider Transactions at Chevron

In other news, VP Jeff B. Gustavson sold 9,325 shares of the stock in a transaction on Friday, February 7th. The shares were sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the completion of the sale, the vice president now directly owns 1,057 shares in the company, valued at $161,192.50. This represents a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available 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.