Signaturefd LLC boosted its position in Chevron Co. (NYSE:CVX) by 9.1% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 15,825 shares of the oil and gas company’s stock after acquiring an additional 1,317 shares during the period. Signaturefd LLC’s holdings in Chevron were worth $2,001,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in the stock. Charles Schwab Investment Advisory Inc. purchased a new position in Chevron during the 2nd quarter valued at about $413,622,000. Standard Life Aberdeen plc grew its holdings in Chevron by 78.9% during the 2nd quarter. Standard Life Aberdeen plc now owns 6,790,689 shares of the oil and gas company’s stock valued at $858,547,000 after buying an additional 2,994,612 shares in the last quarter. Cornerstone Wealth Management LLC grew its holdings in Chevron by 12,404.4% during the 2nd quarter. Cornerstone Wealth Management LLC now owns 1,938,051 shares of the oil and gas company’s stock valued at $15,598,000 after buying an additional 1,922,552 shares in the last quarter. Investec Asset Management LTD purchased a new position in Chevron during the 2nd quarter valued at about $143,820,000. Finally, Summit Trail Advisors LLC grew its holdings in Chevron by 9,968.8% during the 1st quarter. Summit Trail Advisors LLC now owns 1,145,531 shares of the oil and gas company’s stock valued at $1,146,000 after buying an additional 1,134,154 shares in the last quarter. Institutional investors and hedge funds own 64.67% of the company’s stock.
A number of research firms have weighed in on CVX. Credit Suisse Group raised Chevron from a “neutral” rating to an “outperform” rating and set a $138.00 target price for the company in a report on Monday, November 5th. Bank of America reaffirmed a “neutral” rating and set a $140.00 target price (up previously from $135.00) on shares of Chevron in a report on Monday, November 5th. Berenberg Bank began coverage on Chevron in a report on Tuesday, September 11th. They set a “hold” rating and a $135.00 target price for the company. HSBC raised Chevron from a “hold” rating to a “buy” rating in a report on Tuesday, September 11th. Finally, Wells Fargo & Co reduced their target price on Chevron from $160.00 to $158.00 and set an “outperform” rating for the company in a report on Monday, November 5th. Eight analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $138.13.
Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, November 2nd. The oil and gas company reported $2.11 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.06 by $0.05. Chevron had a return on equity of 8.19% and a net margin of 8.79%. The company had revenue of $43.99 billion during the quarter, compared to analyst estimates of $47.17 billion. During the same quarter in the previous year, the firm earned $1.03 earnings per share. Chevron’s revenue was up 21.5% on a year-over-year basis. Sell-side analysts anticipate that Chevron Co. will post 8.18 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Friday, November 16th will be issued a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a dividend yield of 3.71%. The ex-dividend date is Thursday, November 15th. Chevron’s payout ratio is 121.08%.
In other Chevron news, insider James William Johnson sold 4,750 shares of the company’s stock in a transaction that occurred on Thursday, October 11th. The stock was sold at an average price of $119.97, for a total value of $569,857.50. Following the completion of the sale, the insider now owns 4,750 shares of the company’s stock, valued at $569,857.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have sold 19,000 shares of company stock valued at $2,247,463 in the last three months. 0.46% of the stock is owned by insiders.
ILLEGAL ACTIVITY WARNING: This article was posted by Community Financial News and is owned by of Community Financial News. If you are viewing this article on another site, it was illegally copied and reposted in violation of US & international trademark & copyright law. The correct version of this article can be viewed at https://www.com-unik.info/2018/12/04/signaturefd-llc-increases-position-in-chevron-co-cvx.html.
Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production of crude oil and natural gas; processing, liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.
Receive News & Ratings for Chevron Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chevron and related companies with MarketBeat.com's FREE daily email newsletter.