Rockland Trust Co. Has $7.80 Million Holdings in Chevron Corporation $CVX

Rockland Trust Co. lifted its holdings in shares of Chevron Corporation (NYSE:CVX) by 85.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 50,230 shares of the oil and gas company’s stock after purchasing an additional 23,145 shares during the quarter. Rockland Trust Co.’s holdings in Chevron were worth $7,800,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Castellan Group raised its position in shares of Chevron by 10.7% during the second quarter. Castellan Group now owns 20,405 shares of the oil and gas company’s stock valued at $2,922,000 after buying an additional 1,965 shares during the last quarter. Ellis Investment Partners LLC lifted its position in shares of Chevron by 4.6% during the 2nd quarter. Ellis Investment Partners LLC now owns 4,246 shares of the oil and gas company’s stock worth $608,000 after buying an additional 186 shares during the period. Almanack Investment Partners LLC. boosted its stake in Chevron by 31.5% in the 2nd quarter. Almanack Investment Partners LLC. now owns 5,969 shares of the oil and gas company’s stock valued at $855,000 after buying an additional 1,430 shares in the last quarter. Welch Group LLC grew its position in Chevron by 2.4% in the second quarter. Welch Group LLC now owns 419,880 shares of the oil and gas company’s stock valued at $60,123,000 after acquiring an additional 9,703 shares during the period. Finally, MGO One Seven LLC grew its position in Chevron by 13.0% in the second quarter. MGO One Seven LLC now owns 29,077 shares of the oil and gas company’s stock valued at $4,164,000 after acquiring an additional 3,353 shares during the period. 72.42% of the stock is owned by institutional investors.

Chevron Price Performance

Shares of CVX stock opened at $182.70 on Tuesday. Chevron Corporation has a 1 year low of $132.04 and a 1 year high of $182.82. 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 firm’s 50 day moving average is $159.90 and its 200-day moving average is $156.66. The firm has a market capitalization of $367.87 billion, a price-to-earnings ratio of 27.43, a PEG ratio of 12.11 and a beta of 0.70.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, January 30th. The oil and gas company reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.44 by $0.08. The firm had revenue of $45.79 billion during the quarter, compared to analysts’ expectations of $48.18 billion. Chevron had a net margin of 6.51% and a return on equity of 8.23%. Chevron’s revenue was down 10.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.06 EPS. Sell-side analysts forecast that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Tuesday, February 17th will be issued a $1.78 dividend. This is a positive change from Chevron’s previous quarterly dividend of $1.71. This represents a $7.12 annualized dividend and a yield of 3.9%. The ex-dividend date is Tuesday, February 17th. Chevron’s dividend payout ratio (DPR) is 102.70%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Barclays upped their target price on shares of Chevron from $158.00 to $166.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 21st. Jefferies Financial Group upped their price objective on shares of Chevron from $174.00 to $189.00 and gave the stock a “buy” rating in a research note on Wednesday, January 14th. BMO Capital Markets reaffirmed an “outperform” rating and set a $190.00 price objective on shares of Chevron in a report on Monday, February 2nd. Citigroup cut their target price on shares of Chevron from $185.00 to $179.00 and set a “buy” rating for the company in a research note on Monday, January 5th. Finally, JPMorgan Chase & Co. upgraded Chevron from a “neutral” rating to an “overweight” rating and set a $176.00 price target on the stock in a research report on Tuesday, January 20th. Twelve equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, Chevron has a consensus rating of “Hold” and a consensus price target of $175.00.

Insider Transactions at Chevron

In other Chevron news, CFO Eimear P. Bonner sold 32,100 shares of the business’s stock in a transaction dated Friday, January 30th. The stock was sold at an average price of $175.01, for a total transaction of $5,617,821.00. Following the completion of the sale, the chief financial officer directly owned 4,366 shares of the company’s stock, valued at approximately $764,093.66. The trade was a 88.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Vice Chairman Mark A. Nelson sold 45,800 shares of the firm’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $174.17, for a total transaction of $7,976,986.00. Following the completion of the transaction, the insider directly owned 7,161 shares in the company, valued at $1,247,231.37. This trade represents a 86.48% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 793,158 shares of company stock valued at $127,919,578. 0.20% of the stock is currently owned by insiders.

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.