Welch Group LLC Purchases 8,643 Shares of Chevron Co. (NYSE:CVX)

Welch Group LLC raised its position in shares of Chevron Co. (NYSE:CVXFree Report) by 2.5% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 354,856 shares of the oil and gas company’s stock after buying an additional 8,643 shares during the period. Chevron comprises about 2.9% of Welch Group LLC’s investment portfolio, making the stock its 12th biggest holding. Welch Group LLC’s holdings in Chevron were worth $52,930,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Addison Capital Co increased its holdings in Chevron by 1.9% during the 2nd quarter. Addison Capital Co now owns 3,339 shares of the oil and gas company’s stock valued at $525,000 after purchasing an additional 63 shares during the period. Sweet Financial Partners LLC grew its position in shares of Chevron by 0.7% in the 3rd quarter. Sweet Financial Partners LLC now owns 8,761 shares of the oil and gas company’s stock worth $1,477,000 after buying an additional 65 shares during the last quarter. Strategic Investment Advisors MI increased its stake in shares of Chevron by 3.8% during the third quarter. Strategic Investment Advisors MI now owns 1,758 shares of the oil and gas company’s stock valued at $296,000 after buying an additional 65 shares during the period. NCM Capital Management LLC raised its holdings in shares of Chevron by 1.2% during the first quarter. NCM Capital Management LLC now owns 5,570 shares of the oil and gas company’s stock valued at $909,000 after acquiring an additional 65 shares in the last quarter. Finally, Alera Investment Advisors LLC lifted its stake in Chevron by 1.0% in the third quarter. Alera Investment Advisors LLC now owns 6,486 shares of the oil and gas company’s stock worth $1,094,000 after acquiring an additional 67 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CVX. Jefferies Financial Group raised shares of Chevron from a “hold” rating to a “buy” rating and set a $184.00 price objective on the stock in a research report on Monday, January 8th. Royal Bank of Canada increased their price target on shares of Chevron from $185.00 to $190.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. DZ Bank cut Chevron from a “buy” rating to a “hold” rating and set a $160.00 price objective on the stock. in a research report on Tuesday, February 6th. Piper Sandler decreased their target price on Chevron from $188.00 to $180.00 and set an “overweight” rating for the company in a research report on Thursday, March 14th. Finally, Mizuho lifted their price target on Chevron from $195.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Seven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $180.39.

Check Out Our Latest Stock Analysis on Chevron

Chevron Stock Performance

Shares of Chevron stock opened at $159.82 on Wednesday. The stock has a market cap of $296.83 billion, a price-to-earnings ratio of 14.07, a PEG ratio of 2.42 and a beta of 1.12. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.27 and a quick ratio of 1.01. Chevron Co. has a 1 year low of $139.62 and a 1 year high of $172.88. The firm’s 50-day moving average is $152.56 and its 200 day moving average is $152.41.

Chevron (NYSE:CVXGet Free Report) last issued its earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.19 by $0.26. The firm had revenue of $47.18 billion for the quarter, compared to the consensus estimate of $50.93 billion. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The business’s revenue was down 16.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.09 earnings per share. Sell-side analysts anticipate that Chevron Co. will post 13.13 EPS for the current fiscal year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Friday, February 16th were paid a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 4.08%. The ex-dividend date was Thursday, February 15th. This is an increase from Chevron’s previous quarterly dividend of $1.51. Chevron’s dividend payout ratio is currently 57.39%.

About Chevron

(Free Report)

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.

See Also

Want to see what other hedge funds are holding CVX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chevron Co. (NYSE:CVXFree Report).

Institutional Ownership by Quarter for Chevron (NYSE:CVX)

Receive News & Ratings for Chevron Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chevron and related companies with MarketBeat.com's FREE daily email newsletter.