Chevron Co. (NYSE:CVX) Shares Bought by Signature Wealth Management Group

Signature Wealth Management Group raised its position in Chevron Co. (NYSE:CVX) by 7.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,643 shares of the oil and gas company’s stock after acquiring an additional 1,759 shares during the quarter. Chevron makes up approximately 1.6% of Signature Wealth Management Group’s portfolio, making the stock its 26th biggest position. Signature Wealth Management Group’s holdings in Chevron were worth $3,859,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Pettinga Financial Advisors LLC grew its position in shares of Chevron by 10.1% during the third quarter. Pettinga Financial Advisors LLC now owns 2,972 shares of the oil and gas company’s stock worth $438,000 after buying an additional 272 shares in the last quarter. United Bank grew its position in shares of Chevron by 8.4% during the third quarter. United Bank now owns 8,095 shares of the oil and gas company’s stock worth $1,192,000 after buying an additional 629 shares in the last quarter. Entropy Technologies LP acquired a new position in shares of Chevron during the third quarter worth about $380,000. Lifeworks Advisors LLC acquired a new position in shares of Chevron during the third quarter worth about $233,000. Finally, ING Groep NV acquired a new position in shares of Chevron during the third quarter worth about $732,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Trading Up 2.3 %

Shares of CVX stock opened at $157.10 on Friday. The business’s fifty day moving average price is $155.03 and its 200 day moving average price is $152.02. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11. The firm has a market capitalization of $276.59 billion, a PE ratio of 16.16, a P/E/G ratio of 1.46 and a beta of 1.08. 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 posted its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share 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 period last year, the business posted $3.45 earnings per share. As a group, sell-side analysts forecast that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

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

Insider Buying and Selling at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the company’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $152.50, for a total value of $1,422,062.50. Following the sale, the vice president now owns 1,057 shares of the company’s stock, valued at approximately $161,192.50. This represents a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on CVX shares. UBS Group decreased their target price on Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a research note on Monday, February 3rd. Wells Fargo & Company decreased their target price on Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Royal Bank of Canada restated an “outperform” rating and set a $175.00 target price on shares of Chevron in a research note on Monday, February 3rd. Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $145.00 to $185.00 in a research note on Tuesday, November 26th. Finally, Truist Financial reduced their price objective on Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research note on Tuesday, February 4th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, Chevron has an average rating of “Moderate Buy” and a consensus price target of $174.13.

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.