Signaturefd LLC Decreases Stake in Chevron Corporation $CVX

Key Points

• Signaturefd LLC has decreased its stake in Chevron Corporation by 25.6%, now holding 20,258 shares valued at approximately $2.9 million.
• Chevron reported **earnings per share** of $1.77 for the last quarter, exceeding analyst expectations, although revenue was down 12.4% year-over-year.
• The company recently declared a quarterly dividend of $1.71 per share, yielding 4.3%, with a payout ratio currently at 88.03%.

Signaturefd LLC lessened its position in shares of Chevron Corporation (NYSE:CVX - Free Report) by 25.6% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 20,258 shares of the oil and gas company's stock after selling 6,966 shares during the quarter. Signaturefd LLC's holdings in Chevron were worth $2,901,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. CCG Wealth Management LLC boosted its stake in Chevron by 2.3% during the 1st 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 period. 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 valued at $2,060,000 after buying an additional 1,519 shares in the last quarter. Vista Capital Partners Inc. raised its position 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 valued at $993,000 after acquiring an additional 495 shares in the last quarter. Oregon Public Employees Retirement Fund grew its stake in shares of 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 worth $24,075,000 after acquiring an additional 675 shares during the last quarter. Finally, Capital Advisors Inc. OK lifted its holdings in shares of Chevron by 0.3% during the first quarter. Capital Advisors Inc. OK now owns 569,258 shares of the oil and gas company's stock valued at $95,231,000 after acquiring an additional 1,755 shares during the period. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Price Performance

CVX opened at $160.13 on Friday. The stock's 50-day moving average price is $156.04 and its 200 day moving average price is $149.13. The firm has a market cap of $276.70 billion, a price-to-earnings ratio of 20.61, a PEG ratio of 2.01 and a beta of 0.90. 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 Corporation has a 12-month low of $132.04 and a 12-month high of $168.96.

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

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th were paid a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 4.3%. The ex-dividend date of this dividend was Tuesday, August 19th. Chevron's dividend payout ratio (DPR) is presently 88.03%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. UBS Group lifted their price target on shares of Chevron from $186.00 to $197.00 and gave the company a "buy" rating in a research note on Wednesday, August 20th. Bank of America increased their target price on shares of Chevron from $170.00 to $185.00 and gave the company a "buy" rating in a report on Wednesday, September 10th. Barclays reiterated an "equal weight" rating on shares of Chevron in a research report on Tuesday, July 15th. Morgan Stanley initiated coverage on shares of Chevron in a research report on Monday, August 4th. They issued an "overweight" rating and a $174.00 target price on the stock. Finally, Jefferies Financial Group reiterated a "buy" rating on shares of Chevron in a research note on Friday, July 18th. Eleven investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $165.05.

Insider Transactions at Chevron

In related news, Director John B. Hess sold 375,000 shares of the business's stock in a transaction that occurred on Friday, August 22nd. The stock was 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 in the company, valued at approximately $222,102,023.50. The trade was a 21.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Alana K. Knowles sold 3,978 shares of the stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $160.00, for a total transaction of $636,480.00. Following the transaction, the vice president directly owned 1,181 shares in the company, valued at $188,960. This trade represents a 77.11% decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.