Signature Estate & Investment Advisors LLC Increases Holdings in Chevron Co. (NYSE:CVX)

Signature Estate & Investment Advisors LLC grew its holdings in Chevron Co. (NYSE:CVX) by 13.9% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 389,379 shares of the oil and gas company’s stock after buying an additional 47,652 shares during the quarter. Chevron makes up about 1.3% of Signature Estate & Investment Advisors LLC’s investment portfolio, making the stock its 24th largest holding. Signature Estate & Investment Advisors LLC’s holdings in Chevron were worth $57,344,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. King Wealth Management Group raised its holdings in Chevron by 4.9% in the 3rd quarter. King Wealth Management Group now owns 11,080 shares of the oil and gas company’s stock worth $1,632,000 after purchasing an additional 514 shares in the last quarter. CIBC Asset Management Inc increased its position in shares of Chevron by 1.8% during the third quarter. CIBC Asset Management Inc now owns 623,758 shares of the oil and gas company’s stock valued at $91,860,000 after buying an additional 10,890 shares during the period. ING Groep NV purchased a new position in shares of Chevron during the third quarter valued at about $732,000. Sargent Investment Group LLC raised its stake in Chevron by 14.3% in the third quarter. Sargent Investment Group LLC now owns 19,415 shares of the oil and gas company’s stock worth $2,859,000 after buying an additional 2,432 shares in the last quarter. Finally, Lifeworks Advisors LLC bought a new stake in Chevron during the 3rd quarter valued at approximately $233,000. 72.42% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on CVX. Wells Fargo & Company lowered their target price on Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research note on Friday, September 27th. DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective for the company in a research report on Tuesday, November 5th. Truist Financial boosted their target price on shares of Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a report on Monday, November 4th. Royal Bank of Canada increased their price target on shares of Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. Finally, Bank of America began coverage on shares of Chevron in a research note on Thursday, October 17th. They set a “buy” rating and a $168.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $174.93.

Chevron Stock Performance

Shares of CVX opened at $161.77 on Friday. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $167.11. The business’s fifty day simple moving average is $148.51 and its two-hundred day simple moving average is $152.65. 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 company has a market cap of $290.72 billion, a price-to-earnings ratio of 17.78, a P/E/G ratio of 3.57 and a beta of 1.09.

Chevron (NYSE:CVX) last issued its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, topping analysts’ consensus estimates of $2.47 by $0.04. The business had revenue of $50.67 billion during the quarter, compared to analyst estimates of $48.86 billion. Chevron had a return on equity of 13.15% and a net margin of 8.44%. Chevron’s revenue was down 6.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.05 EPS. Research analysts anticipate that Chevron Co. will post 10.55 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 18th will be given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 4.03%. The ex-dividend date is Monday, November 18th. Chevron’s dividend payout ratio (DPR) is presently 71.65%.

Chevron Company 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.