Welch & Forbes LLC Grows Stock Position in Chevron Co. (NYSE:CVX)

Welch & Forbes LLC lifted its position in Chevron Co. (NYSE:CVX) by 0.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 391,427 shares of the oil and gas company’s stock after acquiring an additional 147 shares during the quarter. Welch & Forbes LLC’s holdings in Chevron were worth $58,385,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of CVX. Picton Mahoney Asset Management purchased a new stake in Chevron during the 3rd quarter valued at about $26,000. Bare Financial Services Inc acquired a new stake in Chevron during the 4th quarter worth about $27,000. Valley Forge Investment Consultants Inc. ADV grew its holdings in Chevron by 80.0% during the third quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock worth $30,000 after acquiring an additional 80 shares during the period. Valued Wealth Advisors LLC acquired a new position in shares of Chevron in the fourth quarter worth about $33,000. Finally, Legacy Financial Group LLC acquired a new stake in Chevron in the third quarter valued at approximately $43,000. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Up 1.3 %

CVX stock traded up $2.05 during mid-day trading on Monday, reaching $162.30. The company had a trading volume of 8,427,958 shares, compared to its average volume of 8,484,045. Chevron Co. has a fifty-two week low of $139.62 and a fifty-two week high of $171.70. The company has a market capitalization of $301.43 billion, a price-to-earnings ratio of 14.93, a price-to-earnings-growth ratio of 2.37 and a beta of 1.11. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.93 and a current ratio of 1.23. The firm has a fifty day simple moving average of $157.41 and a 200 day simple moving average of $151.48.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, beating analysts’ consensus estimates of $2.84 by $0.09. The company had revenue of $48.72 billion for the quarter, compared to the consensus estimate of $48.42 billion. Chevron had a net margin of 10.21% and a return on equity of 14.40%. The company’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.55 EPS. Analysts forecast that Chevron Co. will post 13.53 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 17th will be given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 4.02%. The ex-dividend date is Thursday, May 16th. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

Wall Street Analysts Forecast Growth

CVX has been the topic of a number of recent analyst reports. Barclays initiated coverage on Chevron in a research report on Wednesday, April 10th. They set an “overweight” rating and a $203.00 target price on the stock. UBS Group raised their price target on shares of Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a research note on Tuesday, April 9th. The Goldman Sachs Group reissued a “buy” rating on shares of Chevron in a report on Monday, April 1st. Raymond James increased their price objective on Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a research note on Monday, April 15th. Finally, DZ Bank cut shares of Chevron from a “buy” rating to a “hold” rating and set a $160.00 price objective for the company. in a research note on Tuesday, February 6th. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $185.35.

Insider Activity at Chevron

In other news, VP Alana K. Knowles sold 2,800 shares of the company’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total value of $448,252.00. Following the completion of the transaction, the vice president now owns 276 shares in the company, valued at approximately $44,184.84. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, VP Alana K. Knowles sold 2,800 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total transaction of $448,252.00. Following the transaction, the vice president now owns 276 shares in the company, valued at approximately $44,184.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Enrique Hernandez, Jr. sold 5,098 shares of the stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $163.50, for a total value of $833,523.00. Following the completion of the sale, the director now directly owns 2,549 shares of the company’s stock, valued at $416,761.50. The disclosure for this sale can be found here. Insiders sold 13,247 shares of company stock valued at $2,154,164 over the last three months. 0.20% of the stock is owned by corporate insiders.

Chevron Company Profile

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.