Signature Wealth Management Group Raises Holdings in Chevron Co. (NYSE:CVX)

Signature Wealth Management Group increased its holdings in Chevron Co. (NYSE:CVX) by 1.5% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 28,236 shares of the oil and gas company’s stock after acquiring an additional 409 shares during the period. Chevron makes up about 2.1% of Signature Wealth Management Group’s holdings, making the stock its 16th largest holding. Signature Wealth Management Group’s holdings in Chevron were worth $3,403,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Transamerica Financial Advisors Inc. purchased a new position in shares of Chevron during the second quarter worth $46,000. Quantum Capital Management purchased a new position in shares of Chevron during the third quarter worth $51,000. Lenox Wealth Advisors LLC boosted its position in shares of Chevron by 54.6% during the fourth quarter. Lenox Wealth Advisors LLC now owns 433 shares of the oil and gas company’s stock worth $52,000 after buying an additional 153 shares during the period. Vista Private Wealth Partners. LLC purchased a new position in shares of Chevron during the third quarter worth $56,000. Finally, Cordasco Financial Network boosted its position in shares of Chevron by 38.5% during the third quarter. Cordasco Financial Network now owns 525 shares of the oil and gas company’s stock worth $62,000 after buying an additional 146 shares during the period. Institutional investors own 65.47% of the company’s stock.

Shares of CVX traded down $0.44 during midday trading on Wednesday, reaching $115.87. 2,180,606 shares of the stock were exchanged, compared to its average volume of 7,104,010. The business’s 50-day moving average price is $118.56 and its 200 day moving average price is $119.59. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.12 and a quick ratio of 0.93. Chevron Co. has a twelve month low of $110.17 and a twelve month high of $127.34. The company has a market capitalization of $220.17 billion, a price-to-earnings ratio of 14.04, a PEG ratio of 4.88 and a beta of 1.02.

Chevron (NYSE:CVX) last posted its earnings results on Friday, November 1st. The oil and gas company reported $1.36 EPS for the quarter, missing the Zacks’ consensus estimate of $1.47 by ($0.11). Chevron had a return on equity of 8.89% and a net margin of 8.70%. The firm had revenue of $36.12 billion for the quarter, compared to analyst estimates of $37.69 billion. During the same quarter last year, the firm posted $2.11 EPS. The firm’s revenue for the quarter was down 17.9% on a year-over-year basis. As a group, equities research analysts expect that Chevron Co. will post 6.46 earnings per share for the current fiscal year.

In related news, CEO Michael K. Wirth sold 67,500 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $121.07, for a total transaction of $8,172,225.00. Following the transaction, the chief executive officer now owns 33,750 shares of the company’s stock, valued at $4,086,112.50. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Rhonda J. Morris sold 7,800 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $119.68, for a total value of $933,504.00. The disclosure for this sale can be found here. Insiders have sold 90,300 shares of company stock worth $10,904,079 in the last quarter. Insiders own 0.31% of the company’s stock.

Several research analysts have recently commented on CVX shares. Piper Jaffray Companies started coverage on Chevron in a research report on Tuesday, November 26th. They set a “buy” rating and a $143.00 price target for the company. Bank of America lowered Chevron from a “neutral” rating to an “underperform” rating in a report on Tuesday, January 7th. Citigroup lowered Chevron from a “buy” rating to a “neutral” rating in a report on Monday, December 9th. Cowen decreased their target price on Chevron from $140.00 to $134.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Finally, Berenberg Bank reiterated a “hold” rating and issued a $128.00 target price on shares of Chevron in a report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $137.26.

Chevron Company Profile

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.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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