Rockland Trust Co. boosted its stake in shares of Chevron Co. (NYSE:CVX) by 6.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 154,306 shares of the oil and gas company’s stock after acquiring an additional 9,555 shares during the quarter. Chevron accounts for about 2.7% of Rockland Trust Co.’s investment portfolio, making the stock its 6th largest holding. Rockland Trust Co.’s holdings in Chevron were worth $18,131,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Valley National Advisers Inc. increased its position in Chevron by 0.4% during 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 in the last quarter. Deschutes Portfolio Strategy LLC increased its position in Chevron by 0.5% during 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 in the last quarter. Regis Management CO LLC increased its position in Chevron by 0.4% during 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 in the last quarter. Keel Point LLC increased its position in Chevron by 0.5% during 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 in the last quarter. Finally, FCG Advisors LLC increased its position in Chevron by 0.4% during 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 in the last quarter. Institutional investors and hedge funds own 64.06% of the company’s stock.
In other Chevron news, CFO Patricia E. Yarrington sold 13,143 shares of the business’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $115.01, for a total transaction of $1,511,576.43. Following the completion of the transaction, the chief financial officer now owns 17,981 shares in the company, valued at $2,067,994.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Vice Chairman Michael K. Wirth sold 1,229 shares of the business’s stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $118.00, for a total value of $145,022.00. Following the transaction, the insider now owns 1,229 shares of the company’s stock, valued at approximately $145,022. The disclosure for this sale can be found here. Insiders have sold 288,500 shares of company stock worth $33,480,822 over the last three months. 0.38% of the stock is currently owned by insiders.
CVX has been the subject of a number of analyst reports. Morgan Stanley increased their target price on Chevron from $120.00 to $130.00 and gave the company an “overweight” rating in a research note on Wednesday, October 18th. Citigroup increased their target price on Chevron from $118.00 to $128.00 and gave the company a “buy” rating in a research note on Monday, October 30th. Zacks Investment Research downgraded Chevron from a “buy” rating to a “hold” rating in a research note on Tuesday, November 14th. Wolfe Research upgraded Chevron from a “market perform” rating to an “outperform” rating in a research note on Monday, October 16th. Finally, Vetr upgraded Chevron from a “hold” rating to a “buy” rating and set a $134.35 price target on the stock in a research note on Tuesday, December 26th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $129.61.
Chevron Co. (NYSE:CVX) traded down $5.96 during trading hours on Monday, reaching $112.62. The company’s stock had a trading volume of 15,410,000 shares, compared to its average volume of 6,180,000. The company has a current ratio of 1.04, a quick ratio of 0.84 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $213,910.00, a PE ratio of 23.27, a PEG ratio of 2.29 and a beta of 1.15. Chevron Co. has a twelve month low of $102.55 and a twelve month high of $133.88.
Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $0.73 EPS for the quarter, missing the Zacks’ consensus estimate of $1.27 by ($0.54). Chevron had a net margin of 6.49% and a return on equity of 5.23%. The business had revenue of $37.62 billion for the quarter, compared to the consensus estimate of $38.43 billion. During the same period in the prior year, the business earned $0.22 earnings per share. Chevron’s revenue was up 19.4% compared to the same quarter last year. research analysts forecast that Chevron Co. will post 6.47 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 12th. Shareholders of record on Friday, February 16th will be paid a dividend of $1.12 per share. This is a boost from Chevron’s previous quarterly dividend of $1.08. This represents a $4.48 annualized dividend and a yield of 3.98%. The ex-dividend date of this dividend is Thursday, February 15th. Chevron’s payout ratio is presently 89.26%.
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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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