Chevron Co. (NYSE:CVX) Stock Position Reduced by Signet Financial Management LLC

Posted by on Jun 29th, 2023

Signet Financial Management LLC lessened its position in shares of Chevron Co. (NYSE:CVX – Free Report) by 16.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,050 shares of the oil and gas company’s stock after selling 404 shares during the period. Signet Financial Management LLC’s holdings in Chevron were worth $335,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the company. Rebalance LLC acquired a new stake in shares of Chevron during the 4th quarter worth approximately $26,000. Western Pacific Wealth Management LP acquired a new stake in shares of Chevron during the 4th quarter worth approximately $37,000. Red Tortoise LLC acquired a new stake in shares of Chevron during the 4th quarter worth approximately $37,000. Worth Asset Management LLC acquired a new stake in shares of Chevron during the 1st quarter worth approximately $36,000. Finally, JDM Financial Group LLC acquired a new stake in shares of Chevron during the 4th quarter worth approximately $42,000. Institutional investors own 69.65% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on CVX shares. BNP Paribas upgraded Chevron from an “underperform” rating to a “neutral” rating and set a $200.00 price target on the stock in a research report on Tuesday, April 4th. Morgan Stanley raised their target price on Chevron from $192.00 to $198.00 in a research report on Tuesday, May 23rd. Scotiabank upgraded Chevron from a “sector perform” rating to a “sector outperform” rating and raised their target price for the company from $195.00 to $200.00 in a research report on Thursday, April 13th. HSBC upgraded Chevron from a “hold” rating to a “buy” rating and set a $189.00 target price on the stock in a research report on Tuesday, May 23rd. Finally, Piper Sandler lowered their target price on Chevron from $196.00 to $188.00 in a research report on Tuesday, June 13th. Nine equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $191.68.

Chevron Stock Performance

CVX opened at $154.94 on Thursday. The firm has a market cap of $293.56 billion, a PE ratio of 8.37, a P/E/G ratio of 0.78 and a beta of 1.17. The company has a quick ratio of 1.16, a current ratio of 1.43 and a debt-to-equity ratio of 0.13. The business has a fifty day simple moving average of $157.95 and a 200-day simple moving average of $165.27. Chevron Co. has a fifty-two week low of $132.54 and a fifty-two week high of $189.68.

Chevron (NYSE:CVX – Free Report) last issued its earnings results on Friday, April 28th. The oil and gas company reported $3.55 EPS for the quarter, topping the consensus estimate of $3.41 by $0.14. The business had revenue of $50.79 billion during the quarter, compared to analysts’ expectations of $49.49 billion. Chevron had a return on equity of 23.15% and a net margin of 14.74%. Chevron’s revenue was down 6.6% compared to the same quarter last year. During the same quarter last year, the firm posted $3.36 earnings per share. As a group, equities analysts predict that Chevron Co. will post 13.83 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 12th. Stockholders of record on Friday, May 19th were given a $1.51 dividend. The ex-dividend date was Thursday, May 18th. This represents a $6.04 annualized dividend and a dividend yield of 3.90%. Chevron’s dividend payout ratio (DPR) is presently 32.61%.

About Chevron

(Free Report)

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; liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and processing, transportation, storage, and marketing of natural gas, as well as a gas-to-liquids plant.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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