Signature Resources Capital Management LLC Purchases 70 Shares of Chevron Co. (NYSE:CVX)

Signature Resources Capital Management LLC increased its holdings in shares of Chevron Co. (NYSE:CVX) by 22.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 376 shares of the oil and gas company’s stock after purchasing an additional 70 shares during the quarter. Signature Resources Capital Management LLC’s holdings in Chevron were worth $54,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of CVX. Mill Creek Capital Advisors LLC grew its holdings in Chevron by 3.2% during the second quarter. Mill Creek Capital Advisors LLC now owns 4,214 shares of the oil and gas company’s stock worth $659,000 after purchasing an additional 131 shares during the period. Wescott Financial Advisory Group LLC lifted its holdings in Chevron by 14.3% during the 2nd quarter. Wescott Financial Advisory Group LLC now owns 3,277 shares of the oil and gas company’s stock valued at $513,000 after purchasing an additional 411 shares during the last quarter. Zurich Insurance Group Ltd FI bought a new position in Chevron during the second quarter worth $57,992,000. Fred Alger Management LLC raised its position in shares of Chevron by 7.4% in the second quarter. Fred Alger Management LLC now owns 64,073 shares of the oil and gas company’s stock valued at $10,022,000 after purchasing an additional 4,435 shares during the period. Finally, Merewether Investment Management LP acquired a new stake in shares of Chevron during the 2nd quarter worth about $45,941,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on CVX shares. Royal Bank of Canada increased their price target on shares of Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Truist Financial boosted their price target on Chevron from $160.00 to $164.00 and gave the company a “hold” rating in a research note on Monday, January 13th. Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $145.00 to $185.00 in a research report on Tuesday, November 26th. UBS Group boosted their target price on shares of Chevron from $194.00 to $195.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Finally, Raymond James raised their price target on shares of Chevron from $175.00 to $180.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $175.27.

Chevron Trading Down 1.2 %

Shares of Chevron stock opened at $156.39 on Thursday. The firm has a market capitalization of $281.05 billion, a PE ratio of 17.19, a price-to-earnings-growth ratio of 1.45 and a beta of 1.12. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The firm’s 50 day moving average is $154.09 and its 200 day moving average is $151.07. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The company had revenue of $50.67 billion during the quarter, compared to analysts’ expectations of $48.86 billion. During the same period in the prior year, the company earned $3.05 EPS. Chevron’s revenue was down 6.3% compared to the same quarter last year. Equities research analysts forecast that Chevron Co. will post 10.18 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 18th were issued a $1.63 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a yield of 4.17%. Chevron’s dividend payout ratio (DPR) is presently 71.65%.

Insider Buying and Selling

In other news, CEO Michael K. Wirth sold 164,600 shares of the firm’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the completion of the transaction, the chief executive officer now owns 4,280 shares of the company’s stock, valued at approximately $685,356.40. This trade represents a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.20% of the stock is owned by corporate insiders.

Chevron 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.