Signature Estate & Investment Advisors LLC Has $13.73 Million Holdings in Chevron Corporation $CVX

Key Points

• Signature Estate & Investment Advisors LLC sold 314,421 shares of Chevron, decreasing its stake by 79.3%, bringing its total shares to 82,097 valued at approximately $13.73 million.
• Chemical revenues for Chevron were reported at $44.82 billion for the quarter, down 12.4% year-over-year, with an earnings per share of $1.77, exceeding analysts' expectations.
• The company announced a quarterly dividend of $1.71 per share, with an annualized yield of 4.4%, indicating a strong commitment to returning value to shareholders.

Signature Estate & Investment Advisors LLC cut its position in shares of Chevron Corporation (NYSE:CVX - Free Report) by 79.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 82,097 shares of the oil and gas company's stock after selling 314,421 shares during the quarter. Signature Estate & Investment Advisors LLC's holdings in Chevron were worth $13,734,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Sage Capital Advisors llc lifted its stake in Chevron by 2.2% during the first quarter. Sage Capital Advisors llc now owns 42,421 shares of the oil and gas company's stock worth $7,097,000 after purchasing an additional 919 shares during the last quarter. CCG Wealth Management LLC lifted its stake in Chevron by 2.3% during the first quarter. CCG Wealth Management LLC now owns 6,334 shares of the oil and gas company's stock worth $1,060,000 after purchasing an additional 145 shares during the last quarter. Ignite Planners LLC lifted its stake in Chevron by 14.1% during the first quarter. Ignite Planners LLC now owns 12,316 shares of the oil and gas company's stock worth $2,060,000 after purchasing an additional 1,519 shares during the last quarter. Vista Capital Partners Inc. lifted its stake in Chevron by 9.1% during the first quarter. Vista Capital Partners Inc. now owns 5,938 shares of the oil and gas company's stock worth $993,000 after purchasing an additional 495 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund lifted its stake in Chevron by 0.5% in the first quarter. Oregon Public Employees Retirement Fund now owns 143,914 shares of the oil and gas company's stock valued at $24,075,000 after buying an additional 675 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors.

Insider Transactions at Chevron

In other Chevron news, Director John B. Hess sold 375,000 shares of the company's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $158.30, for a total value of $59,362,500.00. Following the completion of the sale, the director directly owned 1,403,045 shares of the company's stock, valued at approximately $222,102,023.50. This represents a 21.09% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Alana K. Knowles sold 3,978 shares of the company's stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $160.00, for a total transaction of $636,480.00. Following the completion of the sale, the vice president directly owned 1,181 shares of the company's stock, valued at $188,960. The trade was a 77.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by corporate insiders.

Chevron Price Performance

CVX stock traded up $2.91 during trading on Wednesday, hitting $157.76. The company had a trading volume of 7,373,698 shares, compared to its average volume of 9,278,739. The firm has a market capitalization of $272.60 billion, a price-to-earnings ratio of 20.30, a P/E/G ratio of 2.28 and a beta of 0.90. The business has a 50 day moving average of $154.09 and a 200 day moving average of $148.82. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16.

Chevron (NYSE:CVX - Get Free Report) last posted its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.19. The business had revenue of $44.82 billion during the quarter, compared to the consensus estimate of $44.59 billion. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The company's quarterly revenue was down 12.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.55 earnings per share. As a group, research analysts predict that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th will be issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date of this dividend is Tuesday, August 19th. Chevron's dividend payout ratio is presently 88.03%.

Analyst Ratings Changes

Several brokerages have recently issued reports on CVX. Mizuho reduced their price target on shares of Chevron from $188.00 to $186.00 and set an "outperform" rating for the company in a report on Tuesday, May 13th. Raymond James Financial reissued an "outperform" rating on shares of Chevron in a report on Friday, August 1st. Barclays reissued an "equal weight" rating on shares of Chevron in a report on Tuesday, July 15th. Scotiabank reissued a "sector perform" rating and set a $160.00 price target (up previously from $143.00) on shares of Chevron in a report on Friday, July 11th. Finally, Jefferies Financial Group reissued a "buy" rating on shares of Chevron in a report on Friday, July 18th. Eleven investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $164.80.

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.