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

Signet Investment Advisory Group Inc. increased its holdings in Chevron Corporation (NYSE:CVX) by 22.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,425 shares of the oil and gas company’s stock after purchasing an additional 3,349 shares during the quarter. Signet Investment Advisory Group Inc.’s holdings in Chevron were worth $2,861,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Norges Bank purchased a new position in shares of Chevron in the second quarter valued at about $2,721,477,000. Bank of New York Mellon Corp lifted its holdings in Chevron by 27.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 19,627,146 shares of the oil and gas company’s stock worth $3,047,900,000 after buying an additional 4,279,918 shares during the period. Laurel Wealth Advisors LLC grew its position in shares of Chevron by 14,194.2% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 3,722,217 shares of the oil and gas company’s stock worth $532,984,000 after buying an additional 3,696,177 shares during the last quarter. Berkshire Hathaway Inc increased its stake in shares of Chevron by 2.9% during the second quarter. Berkshire Hathaway Inc now owns 122,064,792 shares of the oil and gas company’s stock valued at $17,478,458,000 after buying an additional 3,454,258 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its holdings in shares of Chevron by 32.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 9,125,735 shares of the oil and gas company’s stock valued at $1,417,135,000 after acquiring an additional 2,218,283 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Down 0.1%

Shares of NYSE:CVX opened at $182.39 on Wednesday. The company has a current ratio of 1.15, a quick ratio of 0.86 and a debt-to-equity ratio of 0.19. The stock has a fifty day simple moving average of $160.55 and a two-hundred day simple moving average of $156.86. Chevron Corporation has a 12-month low of $132.04 and a 12-month high of $182.95. The stock has a market capitalization of $367.25 billion, a price-to-earnings ratio of 27.39, a PEG ratio of 12.28 and a beta of 0.70.

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

Chevron Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CVX. TD Cowen boosted their price objective on shares of Chevron from $160.00 to $168.00 and gave the company a “hold” rating in a research report on Monday, February 2nd. Mizuho increased their price target on shares of Chevron from $204.00 to $206.00 and gave the stock an “outperform” rating in a research note on Friday, December 12th. Freedom Capital downgraded Chevron from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 6th. UBS Group restated a “buy” rating and issued a $212.00 target price on shares of Chevron in a research note on Monday, February 2nd. Finally, Scotiabank reaffirmed a “sector perform” rating and issued a $168.00 price target on shares of Chevron in a research note on Friday, January 16th. Twelve research analysts have rated the stock with a Buy rating, seven have given a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat, Chevron currently has a consensus rating of “Hold” and a consensus price target of $175.00.

Insider Activity

In related news, CFO Eimear P. Bonner sold 32,100 shares of the firm’s stock in a transaction that occurred on Friday, January 30th. The shares were sold at an average price of $175.01, for a total transaction of $5,617,821.00. Following the completion of the sale, the chief financial officer owned 4,366 shares of the company’s stock, valued at $764,093.66. This trade represents a 88.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Vice Chairman Mark A. Nelson sold 45,800 shares of the company’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $174.17, for a total value of $7,976,986.00. Following the completion of the transaction, the insider directly owned 7,161 shares in the company, valued at $1,247,231.37. This trade represents a 86.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 793,158 shares of company stock valued at $127,919,578. Company insiders own 0.20% of the company’s stock.

Chevron 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.