Signaturefd LLC Buys 4,350 Shares of Chevron Corporation (NYSE:CVX)

Signaturefd LLC raised its holdings in shares of Chevron Corporation (NYSE:CVX) by 19.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,224 shares of the oil and gas company’s stock after buying an additional 4,350 shares during the period. Signaturefd LLC’s holdings in Chevron were worth $4,554,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of CVX. Norges Bank bought a new position in Chevron in the fourth quarter worth approximately $3,017,750,000. GAMMA Investing LLC increased its stake in shares of Chevron by 21,191.5% during the first quarter. GAMMA Investing LLC now owns 5,408,248 shares of the oil and gas company’s stock valued at $904,746,000 after buying an additional 5,382,847 shares during the period. Capital World Investors raised its holdings in shares of Chevron by 11.4% in the fourth quarter. Capital World Investors now owns 14,079,656 shares of the oil and gas company’s stock valued at $2,039,288,000 after acquiring an additional 1,440,808 shares in the last quarter. Northern Trust Corp lifted its stake in Chevron by 7.3% in the fourth quarter. Northern Trust Corp now owns 20,471,800 shares of the oil and gas company’s stock worth $2,965,135,000 after acquiring an additional 1,394,091 shares during the period. Finally, Invesco Ltd. increased its position in Chevron by 6.9% during the 4th quarter. Invesco Ltd. now owns 15,027,474 shares of the oil and gas company’s stock valued at $2,176,579,000 after purchasing an additional 964,426 shares during the period. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CVX. Wells Fargo & Company reiterated an “overweight” rating and set a $165.00 price objective (up from $164.00) on shares of Chevron in a research note on Thursday, June 26th. TD Cowen reduced their target price on shares of Chevron from $155.00 to $150.00 and set a “hold” rating for the company in a report on Monday, May 5th. Piper Sandler raised their price target on shares of Chevron from $162.00 to $164.00 and gave the company an “overweight” rating in a report on Wednesday, July 2nd. DZ Bank downgraded shares of Chevron from a “buy” rating to a “sell” rating and set a $130.00 price objective on the stock. in a research report on Tuesday, May 6th. Finally, HSBC downgraded shares of Chevron from a “buy” rating to a “hold” rating and lowered their target price for the company from $176.00 to $158.00 in a research note on Tuesday, May 13th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $161.65.

Chevron Trading Up 0.8%

CVX opened at $155.38 on Monday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.08 and a quick ratio of 0.82. The company’s 50 day simple moving average is $142.62 and its two-hundred day simple moving average is $148.47. The firm has a market capitalization of $271.35 billion, a price-to-earnings ratio of 17.76, a price-to-earnings-growth ratio of 2.63 and a beta of 0.83. Chevron Corporation has a 1-year low of $132.04 and a 1-year high of $168.96.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.03. The firm had revenue of $47.61 billion during the quarter, compared to analysts’ expectations of $49.05 billion. Chevron had a net margin of 7.76% and a return on equity of 10.73%. Chevron’s revenue was down 2.3% compared to the same quarter last year. During the same period last year, the business earned $2.93 earnings per share. Analysts expect that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were paid a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.40%. The ex-dividend date was Monday, May 19th. Chevron’s payout ratio is 78.17%.

About Chevron

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.