Welch Group LLC Has $66.34 Million Stock Holdings in Chevron Corporation $CVX

Welch Group LLC increased its position in Chevron Corporation (NYSE:CVX) by 1.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 427,227 shares of the oil and gas company’s stock after purchasing an additional 7,347 shares during the quarter. Chevron makes up 2.6% of Welch Group LLC’s holdings, making the stock its 12th largest position. Welch Group LLC’s holdings in Chevron were worth $66,344,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of CVX. Kingstone Capital Partners Texas LLC lifted its position in shares of Chevron by 652,139.5% in the second quarter. Kingstone Capital Partners Texas LLC now owns 83,714,936 shares of the oil and gas company’s stock valued at $13,214,757,000 after buying an additional 83,702,101 shares during the last quarter. Norges Bank bought a new stake in Chevron in the 2nd quarter valued at $2,721,477,000. Laurel Wealth Advisors LLC lifted its holdings in Chevron by 14,194.2% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 3,722,217 shares of the oil and gas company’s stock valued at $532,984,000 after purchasing an additional 3,696,177 shares during the last quarter. Berkshire Hathaway Inc lifted its holdings in Chevron by 2.9% during the 2nd quarter. Berkshire Hathaway Inc now owns 122,064,792 shares of the oil and gas company’s stock valued at $17,478,458,000 after purchasing an additional 3,454,258 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Chevron by 4.0% during the second quarter. Charles Schwab Investment Management Inc. now owns 34,772,753 shares of the oil and gas company’s stock worth $4,979,255,000 after purchasing an additional 1,342,723 shares during the period. Institutional investors own 72.42% of the company’s stock.

Insiders Place Their Bets

In related news, Director John B. Hess sold 275,000 shares of the company’s stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $150.75, for a total transaction of $41,456,250.00. Following the completion of the sale, the director owned 1,128,045 shares of the company’s stock, valued at $170,052,783.75. This represents a 19.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.20% of the stock is owned by corporate insiders.

Chevron Stock Up 0.4%

NYSE CVX opened at $150.47 on Wednesday. The company has a current ratio of 1.15, a quick ratio of 0.86 and a debt-to-equity ratio of 0.19. The company has a market cap of $302.97 billion, a price-to-earnings ratio of 21.16, a PEG ratio of 8.90 and a beta of 0.68. The company has a 50 day moving average of $152.23 and a 200-day moving average of $152.73. Chevron Corporation has a 1-year low of $132.04 and a 1-year high of $168.96.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, October 31st. The oil and gas company reported $1.85 EPS for the quarter, topping analysts’ consensus estimates of $1.71 by $0.14. The firm had revenue of $48.17 billion for the quarter, compared to analyst estimates of $46.99 billion. Chevron had a return on equity of 8.74% and a net margin of 6.57%.The company’s revenue was down 1.9% on a year-over-year basis. During the same quarter last year, the company earned $2.48 EPS. On average, equities research analysts expect that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 10th. Investors of record on Tuesday, November 18th were given a $1.71 dividend. The ex-dividend date was Tuesday, November 18th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.5%. Chevron’s dividend payout ratio (DPR) is presently 96.20%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CVX. Hsbc Global Res raised shares of Chevron from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 1st. HSBC set a $169.00 price objective on shares of Chevron and gave the stock a “buy” rating in a research report on Monday, December 1st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Chevron in a research report on Wednesday, October 8th. Scotiabank lifted their price target on Chevron from $160.00 to $165.00 and gave the stock a “sector perform” rating in a report on Thursday, October 9th. Finally, Bank of America reduced their price target on Chevron from $183.00 to $180.00 and set a “buy” rating for the company in a research note on Thursday, December 11th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, seven have issued a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Chevron currently has an average rating of “Hold” and a consensus price target of $166.00.

Chevron Company Profile

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.