Signature Resources Capital Management LLC Purchases Shares of 852 Chevron Co. (NYSE:CVX)

Signature Resources Capital Management LLC bought a new position in Chevron Co. (NYSE:CVX) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 852 shares of the oil and gas company’s stock, valued at approximately $127,000.

Several other hedge funds also recently made changes to their positions in the company. Windsor Advisory Group LLC increased its stake in shares of Chevron by 24.0% during the third quarter. Windsor Advisory Group LLC now owns 3,720 shares of the oil and gas company’s stock valued at $627,000 after buying an additional 720 shares during the period. Renaissance Investment Group LLC increased its position in Chevron by 12.7% during the 4th quarter. Renaissance Investment Group LLC now owns 6,187 shares of the oil and gas company’s stock valued at $923,000 after purchasing an additional 697 shares during the period. Altrius Capital Management Inc raised its holdings in Chevron by 2.1% in the 3rd quarter. Altrius Capital Management Inc now owns 21,333 shares of the oil and gas company’s stock worth $3,597,000 after purchasing an additional 434 shares in the last quarter. Camelot Portfolios LLC purchased a new stake in shares of Chevron in the 4th quarter worth about $254,000. Finally, Kapstone Financial Advisors LLC boosted its stake in shares of Chevron by 5.3% during the 4th quarter. Kapstone Financial Advisors LLC now owns 4,216 shares of the oil and gas company’s stock valued at $626,000 after purchasing an additional 211 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CVX has been the subject of several research analyst reports. HSBC raised their price objective on shares of Chevron from $175.00 to $178.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. Barclays began coverage on Chevron in a research report on Wednesday, April 10th. They set an “overweight” rating and a $203.00 price target on the stock. Truist Financial decreased their price objective on Chevron from $168.00 to $156.00 and set a “hold” rating for the company in a report on Friday, April 5th. The Goldman Sachs Group restated a “buy” rating on shares of Chevron in a report on Monday, April 1st. Finally, UBS Group increased their price target on shares of Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a research note on Tuesday, April 9th. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, Chevron presently has a consensus rating of “Moderate Buy” and an average price target of $185.35.

Chevron Stock Down 0.3 %

Shares of CVX stock traded down $0.48 during mid-day trading on Friday, hitting $160.25. The company’s stock had a trading volume of 11,664,505 shares, compared to its average volume of 7,516,580. Chevron Co. has a 52-week low of $139.62 and a 52-week high of $171.70. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.27. The stock has a market cap of $297.63 billion, a price-to-earnings ratio of 14.74, a PEG ratio of 2.37 and a beta of 1.11. The business has a 50-day moving average price of $157.26 and a 200 day moving average price of $151.76.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, topping analysts’ consensus estimates of $2.84 by $0.09. The business had revenue of $48.72 billion during the quarter, compared to analyst estimates of $48.42 billion. Chevron had a net margin of 10.21% and a return on equity of 14.38%. The company’s revenue was down 4.1% on a year-over-year basis. During the same period in the prior year, the business posted $3.55 earnings per share. Research analysts predict that Chevron Co. will post 13.53 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 17th will be given a $1.63 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $6.52 annualized dividend and a dividend yield of 4.07%. Chevron’s payout ratio is 59.98%.

Insider Transactions at Chevron

In related news, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $165.00, for a total transaction of $462,000.00. Following the sale, the vice president now owns 276 shares of the company’s stock, valued at approximately $45,540. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.20% of the company’s stock.

Chevron Company 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.