Colrain Capital LLC Has $16.25 Million Stock Holdings in Chevron Corporation $CVX

Colrain Capital LLC grew its stake in Chevron Corporation (NYSE:CVX) by 5,654.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 104,622 shares of the oil and gas company’s stock after purchasing an additional 102,804 shares during the quarter. Chevron makes up approximately 9.3% of Colrain Capital LLC’s holdings, making the stock its 3rd biggest holding. Colrain Capital LLC’s holdings in Chevron were worth $16,247,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Chevron by 17.9% during the 3rd quarter. Vanguard Group Inc. now owns 183,790,028 shares of the oil and gas company’s stock worth $28,540,753,000 after buying an additional 27,961,463 shares during the last quarter. Norges Bank acquired a new stake in shares of Chevron during the 2nd quarter valued at approximately $2,721,477,000. Bank of New York Mellon Corp raised its position in shares of Chevron by 27.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 19,627,146 shares of the oil and gas company’s stock valued at $3,047,900,000 after acquiring an additional 4,279,918 shares in the last quarter. Laurel Wealth Advisors LLC lifted its stake in Chevron by 14,194.2% during the second quarter. Laurel Wealth Advisors LLC now owns 3,722,217 shares of the oil and gas company’s stock worth $532,984,000 after purchasing an additional 3,696,177 shares during the last quarter. Finally, Berkshire Hathaway Inc boosted its holdings in Chevron by 2.9% in the second quarter. Berkshire Hathaway Inc now owns 122,064,792 shares of the oil and gas company’s stock worth $17,478,458,000 after purchasing an additional 3,454,258 shares during the period. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on CVX. Mizuho raised their price target on shares of Chevron from $204.00 to $206.00 and gave the stock an “outperform” rating in a research report on Friday, December 12th. HSBC cut shares of Chevron from a “buy” rating to a “hold” rating and set a $180.00 target price on the stock. in a report on Monday, February 2nd. Scotiabank reaffirmed a “sector perform” rating and set a $168.00 target price on shares of Chevron in a report on Friday, January 16th. Freedom Capital downgraded Chevron from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 6th. Finally, Wall Street Zen upgraded Chevron from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st. Twelve analysts have rated the stock with a Buy rating, seven have issued a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $175.00.

Insider Activity at Chevron

In other news, insider Andrew Benjamin Walz sold 22,200 shares of the stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $176.53, for a total value of $3,918,966.00. Following the completion of the transaction, the insider directly owned 666 shares in the company, valued at $117,568.98. This trade represents a 97.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Eimear P. Bonner sold 32,100 shares of the firm’s stock in a transaction that occurred on Friday, January 30th. The shares were sold at an average price of $175.01, for a total transaction of $5,617,821.00. Following the transaction, the chief financial officer owned 4,366 shares in the company, valued at $764,093.66. This represents a 88.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 793,163 shares of company stock worth $127,920,502 in the last three months. Insiders own 0.20% of the company’s stock.

Chevron Stock Performance

Shares of NYSE CVX opened at $183.65 on Tuesday. Chevron Corporation has a 12-month low of $132.04 and a 12-month high of $186.52. The company has a market cap of $369.79 billion, a PE ratio of 27.58, a P/E/G ratio of 12.16 and a beta of 0.70. The stock has a 50 day simple moving average of $163.21 and a 200-day simple moving average of $157.68. The company has a current ratio of 1.15, a quick ratio of 0.86 and a debt-to-equity ratio of 0.19.

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

Chevron Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 17th will be paid a dividend of $1.78 per share. This represents a $7.12 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend is Tuesday, February 17th. This is a positive change from Chevron’s previous quarterly dividend of $1.71. Chevron’s dividend payout ratio is 102.70%.

Chevron 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.