Rockland Trust Co. Acquires 9,555 Shares of Chevron Co. (CVX)

Rockland Trust Co. lifted its holdings in shares of Chevron Co. (NYSE:CVX) by 6.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 154,306 shares of the oil and gas company’s stock after acquiring an additional 9,555 shares during the period. Chevron accounts for about 2.7% of Rockland Trust Co.’s holdings, making the stock its 6th biggest position. Rockland Trust Co.’s holdings in Chevron were worth $18,131,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Valley National Advisers Inc. grew its position in Chevron by 0.4% in the 2nd quarter. Valley National Advisers Inc. now owns 2,612 shares of the oil and gas company’s stock valued at $273,000 after buying an additional 11 shares during the last quarter. Deschutes Portfolio Strategy LLC grew its position in Chevron by 0.5% in the 2nd quarter. Deschutes Portfolio Strategy LLC now owns 2,889 shares of the oil and gas company’s stock valued at $301,000 after buying an additional 13 shares during the last quarter. Regis Management CO LLC grew its position in Chevron by 0.4% in the 2nd quarter. Regis Management CO LLC now owns 3,269 shares of the oil and gas company’s stock valued at $341,000 after buying an additional 14 shares during the last quarter. Keel Point LLC grew its position in Chevron by 0.5% in the 2nd quarter. Keel Point LLC now owns 2,759 shares of the oil and gas company’s stock valued at $288,000 after buying an additional 14 shares during the last quarter. Finally, FCG Advisors LLC grew its position in Chevron by 0.4% in the 2nd quarter. FCG Advisors LLC now owns 3,907 shares of the oil and gas company’s stock valued at $408,000 after buying an additional 15 shares during the last quarter. Institutional investors and hedge funds own 63.80% of the company’s stock.

In other news, Vice Chairman Michael K. Wirth sold 1,229 shares of Chevron stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $118.00, for a total transaction of $145,022.00. Following the completion of the transaction, the insider now owns 1,229 shares of the company’s stock, valued at approximately $145,022. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Pierre R. Breber sold 23,250 shares of Chevron stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $119.00, for a total value of $2,766,750.00. Following the transaction, the insider now directly owns 42,182 shares of the company’s stock, valued at approximately $5,019,658. The disclosure for this sale can be found here. Insiders have sold a total of 314,000 shares of company stock valued at $36,540,822 in the last ninety days. Corporate insiders own 0.38% of the company’s stock.

Several brokerages have commented on CVX. Vetr lowered shares of Chevron from a “buy” rating to a “hold” rating and set a $134.35 target price on the stock. in a research report on Thursday. Bank of America lowered shares of Chevron from a “buy” rating to a “neutral” rating and set a $125.00 target price on the stock. in a research report on Thursday, January 4th. They noted that the move was a valuation call. Wells Fargo & Co restated a “market perform” rating and set a $108.00 target price (up from $100.00) on shares of Chevron in a research report on Tuesday, October 3rd. Jefferies Group restated a “buy” rating and set a $137.00 target price on shares of Chevron in a research report on Thursday, October 19th. Finally, Zacks Investment Research upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $127.00 target price on the stock in a research report on Tuesday, October 31st. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have given a buy rating to the stock. Chevron presently has a consensus rating of “Hold” and a consensus price target of $126.06.

Chevron Co. (NYSE CVX) opened at $133.60 on Friday. The stock has a market capitalization of $253,756.38, a price-to-earnings ratio of 38.95, a PEG ratio of 2.98 and a beta of 1.21. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.84 and a current ratio of 1.04. Chevron Co. has a one year low of $102.55 and a one year high of $133.85.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, October 27th. The oil and gas company reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.04. The business had revenue of $36.21 billion during the quarter, compared to the consensus estimate of $34.06 billion. Chevron had a return on equity of 4.59% and a net margin of 4.79%. The business’s revenue was up 20.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.68 EPS. research analysts forecast that Chevron Co. will post 4.35 earnings per share for the current fiscal year.

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Chevron Profile

Chevron Corporation (Chevron) manages its investments in subsidiaries and affiliates, and provides administrative, financial, management and technology support to the United States and international subsidiaries that engage in integrated energy and chemicals operations. The Company operates through two business segments: Upstream and Downstream.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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