Chevron Co. (CVX) Stake Decreased by SignalPoint Asset Management LLC

SignalPoint Asset Management LLC lowered its holdings in Chevron Co. (NYSE:CVX) by 12.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,712 shares of the oil and gas company’s stock after selling 2,383 shares during the quarter. Chevron accounts for about 1.0% of SignalPoint Asset Management LLC’s investment portfolio, making the stock its 21st biggest holding. SignalPoint Asset Management LLC’s holdings in Chevron were worth $1,963,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of CVX. Korea Investment CORP increased its position in Chevron by 5.1% during the second quarter. Korea Investment CORP now owns 1,476,610 shares of the oil and gas company’s stock valued at $154,055,000 after acquiring an additional 72,173 shares during the last quarter. Numeric Investors LLC increased its position in Chevron by 158.4% during the second quarter. Numeric Investors LLC now owns 52,200 shares of the oil and gas company’s stock valued at $5,446,000 after acquiring an additional 32,000 shares during the last quarter. Palisade Asset Management LLC increased its position in Chevron by 20.5% during the second quarter. Palisade Asset Management LLC now owns 109,154 shares of the oil and gas company’s stock valued at $11,388,000 after acquiring an additional 18,541 shares during the last quarter. Meeder Asset Management Inc. increased its position in Chevron by 124.9% during the second quarter. Meeder Asset Management Inc. now owns 48,670 shares of the oil and gas company’s stock valued at $5,077,000 after acquiring an additional 27,034 shares during the last quarter. Finally, Toronto Dominion Bank grew its holdings in Chevron by 24.7% during the second quarter. Toronto Dominion Bank now owns 660,443 shares of the oil and gas company’s stock valued at $68,894,000 after purchasing an additional 130,990 shares during the period. Hedge funds and other institutional investors own 63.80% of the company’s stock.

In related news, VP R. Hewitt Pate sold 25,500 shares of the stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $120.00, for a total transaction of $3,060,000.00. Following the completion of the transaction, the vice president now directly owns 25,500 shares of the company’s stock, valued at $3,060,000. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Patricia E. Yarrington sold 116,857 shares of the stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $115.29, for a total value of $13,472,443.53. Following the transaction, the chief financial officer now directly owns 39,506 shares of the company’s stock, valued at $4,554,646.74. The disclosure for this sale can be found here. In the last ninety days, insiders sold 314,000 shares of company stock valued at $36,540,822. Corporate insiders own 0.38% of the company’s stock.

Several research firms have issued reports on CVX. JPMorgan Chase & Co. reissued an “overweight” rating on shares of Chevron in a report on Saturday, September 16th. Credit Suisse Group began coverage on Chevron in a report on Monday, December 11th. They set a “neutral” rating and a $123.00 price target for the company. Cowen reissued a “buy” rating and set a $122.00 price target on shares of Chevron in a report on Tuesday, September 19th. TheStreet raised Chevron from a “c+” rating to a “b” rating in a report on Monday, October 23rd. Finally, BMO Capital Markets lowered Chevron from an “outperform” rating to a “market perform” rating and set a $120.00 price target for the company. in a report on Wednesday, October 18th. They noted that the move was a valuation call. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. Chevron has an average rating of “Hold” and an average target price of $125.15.

Chevron Co. (CVX) opened at $127.84 on Wednesday. The firm has a market capitalization of $242,820.00, a PE ratio of 37.27, a PEG ratio of 2.97 and a beta of 1.21. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.04 and a quick ratio of 0.84. Chevron Co. has a one year low of $102.55 and a one year high of $128.94.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, October 27th. The oil and gas company reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.04. The firm had revenue of $36.21 billion during the quarter, compared to analyst estimates of $34.06 billion. Chevron had a return on equity of 4.59% and a net margin of 4.79%. The business’s quarterly revenue was up 20.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.68 earnings per share. research analysts forecast that Chevron Co. will post 4.35 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 11th. Stockholders of record on Friday, November 17th were paid a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date of this dividend was Thursday, November 16th. Chevron’s dividend payout ratio (DPR) is 125.95%.

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About Chevron

Chevron Corporation (Chevron) manages its investments in subsidiaries and affiliates, and provides administrative, financial, management and technology support to the United States and international subsidiaries that engage in integrated energy and chemicals operations. The Company operates through two business segments: Upstream and Downstream.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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