Signet Investment Advisory Group Inc. Raises Position in Chevron Corporation $CVX

Signet Investment Advisory Group Inc. lifted its stake in shares of Chevron Corporation (NYSE:CVX) by 22.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,425 shares of the oil and gas company’s stock after buying an additional 3,349 shares during the period. Signet Investment Advisory Group Inc.’s holdings in Chevron were worth $2,861,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Quaker Wealth Management LLC raised its holdings in shares of Chevron by 197.7% in the second quarter. Quaker Wealth Management LLC now owns 217 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 439 shares during the last quarter. Decker Retirement Planning Inc. purchased a new stake in Chevron in the 3rd quarter valued at about $34,000. Vermillion & White Wealth Management Group LLC lifted its position in shares of Chevron by 86.1% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 255 shares of the oil and gas company’s stock worth $37,000 after buying an additional 118 shares in the last quarter. IMG Wealth Management Inc. boosted its stake in shares of Chevron by 52.3% in the 2nd quarter. IMG Wealth Management Inc. now owns 265 shares of the oil and gas company’s stock worth $38,000 after buying an additional 91 shares during the last quarter. Finally, Marquette Asset Management LLC bought a new position in shares of Chevron in the third quarter valued at approximately $41,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Chevron

In related news, insider Andrew Benjamin Walz sold 22,200 shares of the stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $176.53, for a total transaction of $3,918,966.00. Following the sale, the insider owned 666 shares of the company’s stock, valued at approximately $117,568.98. This represents a 97.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider R. Hewitt Pate sold 41,134 shares of the firm’s stock in a transaction dated Friday, January 30th. The stock was sold at an average price of $176.40, for a total value of $7,256,037.60. Following the completion of the transaction, the insider owned 4,169 shares of the company’s stock, valued at approximately $735,411.60. This represents a 90.80% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 793,158 shares of company stock worth $127,919,578 in the last 90 days. 0.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CVX. TD Cowen lifted their price target on Chevron from $160.00 to $168.00 and gave the stock a “hold” rating in a report on Monday, February 2nd. Weiss Ratings reissued a “hold (c)” rating on shares of Chevron in a report on Wednesday, January 21st. JPMorgan Chase & Co. upgraded shares of Chevron from a “neutral” rating to an “overweight” rating and set a $176.00 price objective for the company in a report on Tuesday, January 20th. Wells Fargo & Company increased their target price on shares of Chevron from $196.00 to $204.00 and gave the company an “overweight” rating in a research report on Monday, February 2nd. Finally, Sanford C. Bernstein lifted their price target on shares of Chevron from $170.00 to $172.00 and gave the stock a “market perform” rating in a report on Monday, January 5th. Twelve research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $175.00.

Chevron Stock Performance

NYSE CVX opened at $182.39 on Wednesday. The firm has a market cap of $367.25 billion, a P/E ratio of 27.39, a price-to-earnings-growth ratio of 12.28 and a beta of 0.70. The company has a quick ratio of 0.86, a current ratio of 1.15 and a debt-to-equity ratio of 0.19. The company’s 50 day moving average is $160.55 and its 200-day moving average is $156.86. Chevron Corporation has a 12-month low of $132.04 and a 12-month high of $182.95.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, January 30th. The oil and gas company reported $1.52 EPS for the quarter, topping the consensus estimate of $1.44 by $0.08. Chevron had a net margin of 6.51% and a return on equity of 8.23%. The company had revenue of $45.79 billion during the quarter, compared to the consensus estimate of $48.18 billion. During the same period last year, the firm earned $2.06 EPS. Chevron’s revenue for the quarter was down 10.2% on a year-over-year basis. Sell-side analysts predict that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 17th will be given a $1.78 dividend. This represents a $7.12 annualized dividend and a dividend yield of 3.9%. This is a boost from Chevron’s previous quarterly dividend of $1.71. The ex-dividend date is Tuesday, February 17th. Chevron’s dividend payout ratio (DPR) is presently 102.70%.

About Chevron

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.