Signature Estate & Investment Advisors LLC Raises Position in Chevron Co. (NYSE:CVX)

Signature Estate & Investment Advisors LLC grew its holdings in shares of Chevron Co. (NYSE:CVX) by 13.9% in the third quarter, HoldingsChannel reports. The fund owned 389,379 shares of the oil and gas company’s stock after purchasing an additional 47,652 shares during the quarter. Chevron makes up about 1.3% of Signature Estate & Investment Advisors LLC’s 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 filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of CVX. Rational Advisors LLC bought a new position in shares of Chevron in the third quarter worth about $29,000. Anfield Capital Management LLC raised its stake in Chevron by 118.0% during the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock worth $34,000 after acquiring an additional 118 shares during the period. Cyrus J. Lawrence LLC lifted its holdings in Chevron by 66.7% during the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 100 shares in the last quarter. Krane Funds Advisors LLC bought a new position in shares of Chevron in the third quarter worth approximately $47,000. Finally, Livelsberger Financial Advisory purchased a new stake in shares of Chevron in the third quarter worth $47,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Trading Up 1.9 %

Shares of CVX stock opened at $161.77 on Friday. The company has a market cap of $290.72 billion, a PE ratio of 17.78, a price-to-earnings-growth ratio of 3.57 and a beta of 1.09. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The stock’s 50 day simple moving average is $148.51 and its two-hundred day simple moving average is $152.65. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11.

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

Chevron Dividend Announcement

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

Wall Street Analyst Weigh In

CVX has been the topic of a number of analyst reports. Mizuho lowered their target price on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research note on Monday, September 16th. Wells Fargo & Company cut their price objective on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a report on Friday, September 27th. DZ Bank raised shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price on the stock in a report on Tuesday, November 5th. Barclays raised their target price on shares of Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Finally, Wolfe Research assumed coverage on shares of Chevron in a research note on Thursday, July 18th. They issued a “peer perform” rating on the stock. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $174.93.

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.