Signet Financial Management LLC Has $979,000 Stock Position in Chevron Corporation $CVX

Signet Financial Management LLC cut its stake in Chevron Corporation (NYSE:CVX) by 79.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,730 shares of the oil and gas company’s stock after selling 18,793 shares during the period. Signet Financial Management LLC’s holdings in Chevron were worth $979,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Midwest Capital Advisors LLC bought a new stake in shares of Chevron in the 1st quarter worth about $25,000. Core Wealth Advisors LLC bought a new position in Chevron during the 4th quarter valued at about $26,000. Phillip James Consulting Co. acquired a new position in Chevron in the fourth quarter valued at about $26,000. Quattro Advisors LLC acquired a new position in Chevron in the fourth quarter valued at about $27,000. Finally, Karpus Management Inc. bought a new stake in Chevron during the fourth quarter worth about $27,000. Institutional investors own 72.42% of the company’s stock.

Trending Headlines about Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron was highlighted as being “poised to beat earnings estimates again,” with articles pointing to its strong history of earnings surprises and favorable setup for the next quarterly report. Why Chevron (CVX) is Poised to Beat Earnings Estimates Again
• Positive Sentiment: Reuters-reported news that Chevron is offering its chemical technology to rival shale drillers could support future royalty, service, and technology-related revenue while reinforcing the company’s innovation story. Chevron (CVX) Offers Rival Drillers Chemical Technology to Increase Shale Oil Output, Reuters Reports
• Positive Sentiment: Several analyst and screening pieces continued to frame Chevron as an attractive dividend/blue-chip energy name, with BMO Capital reiterating a Buy rating and other commentary calling it a strong dividend aristocrat pick. BMO Capital Sticks to Its Buy Rating for Chevron (CVX)
• Positive Sentiment: Chevron is also being discussed as a beneficiary of stronger crude prices, which can improve upstream margins and earnings power if oil holds up. Shell, BP, and other energy stocks jump as crude oil prices rebound

Analyst Ratings Changes

Several analysts have recently weighed in on CVX shares. Morgan Stanley dropped their price objective on shares of Chevron from $214.00 to $210.00 and set an “overweight” rating for the company in a report on Monday, June 29th. Zacks Research downgraded Chevron from a “strong-buy” rating to a “hold” rating in a report on Monday, June 8th. Mizuho increased their price target on Chevron from $225.00 to $230.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 27th. Weiss Ratings cut Chevron from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, June 2nd. Finally, UBS Group reiterated a “buy” rating on shares of Chevron in a research report on Tuesday, June 23rd. Nineteen equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Chevron presently has a consensus rating of “Moderate Buy” and an average target price of $206.83.

Chevron Stock Down 0.1%

Shares of NYSE CVX opened at $181.55 on Thursday. Chevron Corporation has a 1 year low of $146.49 and a 1 year high of $214.71. The firm’s 50-day moving average is $181.39 and its 200-day moving average is $182.17. The company has a current ratio of 1.09, a quick ratio of 0.84 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $361.58 billion, a PE ratio of 31.46, a price-to-earnings-growth ratio of 0.64 and a beta of 0.50.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.41. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The business had revenue of $47.56 billion during the quarter, compared to the consensus estimate of $51.86 billion. During the same period in the previous year, the firm posted $2.18 earnings per share. Chevron’s revenue for the quarter was up 2.1% compared to the same quarter last year. Equities analysts expect that Chevron Corporation will post 14.75 EPS for the current year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 19th were given a dividend of $1.78 per share. The ex-dividend date was Tuesday, May 19th. This represents a $7.12 annualized dividend and a dividend yield of 3.9%. Chevron’s payout ratio is presently 123.40%.

Insider Activity at Chevron

In other news, Director John B. Hess sold 380,000 shares of the stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $193.20, for a total value of $73,416,000.00. Following the transaction, the director owned 278,045 shares of the company’s stock, valued at $53,718,294. This represents a 57.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.56% 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.