Welch & Forbes LLC Acquires 3,084 Shares of Chevron Co. (NYSE:CVX)

Welch & Forbes LLC boosted its holdings in shares of Chevron Co. (NYSE:CVX) by 1.0% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 317,636 shares of the oil and gas company’s stock after purchasing an additional 3,084 shares during the period. Welch & Forbes LLC’s holdings in Chevron were worth $37,672,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Semmax Financial Advisors Inc. acquired a new stake in shares of Chevron in the 4th quarter valued at about $388,000. Foresters Investment Management Company Inc. raised its stake in shares of Chevron by 92.2% in the 4th quarter. Foresters Investment Management Company Inc. now owns 500,150 shares of the oil and gas company’s stock valued at $54,411,000 after purchasing an additional 239,950 shares during the period. Stamos Capital Partners L.P. acquired a new stake in shares of Chevron in the 4th quarter valued at about $2,611,000. ERTS Wealth Advisors LLC acquired a new stake in shares of Chevron in the 4th quarter valued at about $147,000. Finally, Total Wealth Planning LLC acquired a new stake in shares of Chevron in the 4th quarter valued at about $1,765,000. Hedge funds and other institutional investors own 65.61% of the company’s stock.

In other news, Director Debra L. Reed acquired 4,250 shares of Chevron stock in a transaction dated Wednesday, August 7th. The stock was bought at an average price of $118.14 per share, for a total transaction of $502,095.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Pierre R. Breber sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $124.97, for a total value of $1,874,550.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 86,750 shares of company stock valued at $10,648,200. Corporate insiders own 0.31% of the company’s stock.



Several analysts have issued reports on the company. Cowen set a $140.00 price target on Chevron and gave the company a “buy” rating in a research note on Friday, August 30th. BMO Capital Markets assumed coverage on Chevron in a research note on Tuesday, August 20th. They issued an “outperform” rating and a $165.00 price target on the stock. Morgan Stanley dropped their price target on Chevron from $146.00 to $144.00 and set an “overweight” rating on the stock in a research note on Friday, July 12th. Independent Research set a $127.00 price target on Chevron and gave the company a “neutral” rating in a research note on Thursday, August 29th. Finally, Barclays assumed coverage on Chevron in a research note on Monday, August 19th. They issued an “overweight” rating and a $145.00 price target on the stock. Five research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $137.47.

NYSE CVX traded up $2.24 during trading on Friday, reaching $116.83. 378,323 shares of the company’s stock were exchanged, compared to its average volume of 6,429,116. The business has a 50 day moving average price of $118.48 and a 200-day moving average price of $120.78. The stock has a market capitalization of $212.07 billion, a P/E ratio of 14.16, a PEG ratio of 4.14 and a beta of 0.99. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.15 and a quick ratio of 0.91. Chevron Co. has a fifty-two week low of $100.22 and a fifty-two week high of $127.34.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.27 earnings per share for the quarter, topping analysts’ consensus estimates of $1.74 by $0.53. Chevron had a return on equity of 9.58% and a net margin of 9.18%. The firm had revenue of $38.85 billion for the quarter, compared to the consensus estimate of $40.14 billion. During the same quarter in the previous year, the business earned $1.78 earnings per share. The business’s revenue was down 8.0% compared to the same quarter last year. On average, analysts forecast that Chevron Co. will post 6.75 earnings per share for the current year.

Chevron 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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