Signet Investment Advisory Group Inc. Acquires 389 Shares of Chevron Co. (NYSE:CVX)

Signet Investment Advisory Group Inc. grew its position in shares of Chevron Co. (NYSE:CVX) by 3.1% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 12,757 shares of the oil and gas company’s stock after purchasing an additional 389 shares during the quarter. Signet Investment Advisory Group Inc.’s holdings in Chevron were worth $1,995,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in CVX. American Capital Advisory LLC grew its position in shares of Chevron by 403.2% during the 1st quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock worth $25,000 after buying an additional 125 shares during the period. Bare Financial Services Inc acquired a new stake in Chevron in the 4th quarter valued at $27,000. Frank Rimerman Advisors LLC acquired a new stake in Chevron in the 4th quarter valued at $30,000. Cooksen Wealth LLC acquired a new stake in Chevron in the 4th quarter valued at $40,000. Finally, Clear Investment Research LLC grew its position in Chevron by 264.9% in the 4th quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock valued at $42,000 after purchasing an additional 204 shares during the period. Institutional investors own 72.42% of the company’s stock.

Chevron Trading Up 0.3 %

Shares of Chevron stock traded up $0.47 during midday trading on Friday, reaching $147.27. 6,874,416 shares of the company’s stock traded hands, compared to its average volume of 7,867,067. The stock has a 50 day moving average of $153.82 and a 200-day moving average of $155.96. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16. The company has a market cap of $271.41 billion, a PE ratio of 13.55, a price-to-earnings-growth ratio of 2.42 and a beta of 1.10. Chevron Co. has a 12 month low of $139.62 and a 12 month high of $171.70.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). The firm had revenue of $51.18 billion during the quarter, compared to the consensus estimate of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. Chevron’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter last year, the company posted $3.08 EPS. As a group, equities analysts expect that Chevron Co. will post 11.96 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th will be paid a $1.63 dividend. The ex-dividend date is Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.43%. Chevron’s dividend payout ratio is currently 59.98%.

Insider Transactions at Chevron

In other news, VP Jeff B. Gustavson sold 3,750 shares of the stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $160.23, for a total value of $600,862.50. Following the sale, the vice president now directly owns 477 shares of the company’s stock, valued at $76,429.71. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on CVX shares. HSBC lifted their price objective on shares of Chevron from $175.00 to $178.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. Sanford C. Bernstein cut Chevron from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $183.00 to $167.00 in a research note on Wednesday, July 17th. Mizuho boosted their price objective on Chevron from $200.00 to $205.00 and gave the company a “buy” rating in a research note on Monday, May 13th. Barclays lowered their price objective on Chevron from $203.00 to $185.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 6th. Finally, Truist Financial reduced their target price on Chevron from $156.00 to $154.00 and set a “hold” rating for the company in a report on Monday, August 5th. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $183.82.

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.