Signal Advisors Wealth LLC Boosts Stock Holdings in Chevron Co. (NYSE:CVX)

Signal Advisors Wealth LLC lifted its stake in Chevron Co. (NYSE:CVX) by 41.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,677 shares of the oil and gas company’s stock after buying an additional 4,274 shares during the period. Signal Advisors Wealth LLC’s holdings in Chevron were worth $2,126,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Rational Advisors LLC purchased a new position in Chevron in the 3rd quarter worth approximately $29,000. Legacy Investment Solutions LLC bought a new position in shares of Chevron in the third quarter worth approximately $29,000. Darwin Wealth Management LLC purchased a new position in shares of Chevron in the third quarter worth $30,000. RPg Family Wealth Advisory LLC bought a new stake in Chevron during the 3rd quarter valued at $31,000. Finally, Cyrus J. Lawrence LLC boosted its position in Chevron by 66.7% during the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after buying an additional 100 shares during the period. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Up 1.0 %

CVX stock opened at $156.85 on Wednesday. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11. The firm has a market cap of $281.87 billion, a PE ratio of 17.24, a price-to-earnings-growth ratio of 2.93 and a beta of 1.12. The business has a 50 day moving average of $153.78 and a 200 day moving average of $150.95. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last issued its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The business had revenue of $50.67 billion during the quarter, compared to analysts’ expectations of $48.86 billion. During the same period in the previous year, the company earned $3.05 earnings per share. The business’s revenue for the quarter was down 6.3% compared to the same quarter last year. On average, research analysts forecast that Chevron Co. will post 10.5 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th were paid a dividend of $1.63 per share. The ex-dividend date was Monday, November 18th. This represents a $6.52 annualized dividend and a yield of 4.16%. Chevron’s dividend payout ratio is 71.65%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on CVX shares. Piper Sandler decreased their price objective on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Bank of America assumed coverage on Chevron in a research report on Thursday, October 17th. They set a “buy” rating and a $168.00 price target for the company. Royal Bank of Canada lifted their price objective on Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Scotiabank decreased their target price on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Finally, Truist Financial lifted their price target on shares of Chevron from $160.00 to $164.00 and gave the company a “hold” rating in a report on Monday. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $174.87.

Insider Buying and Selling at Chevron

In other news, CEO Michael K. Wirth sold 164,600 shares of the company’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the transaction, the chief executive officer now directly owns 4,280 shares of the company’s stock, valued at $685,356.40. This represents a 97.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.20% of the company’s stock.

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.