Franklin Parlapiano Turner & Welch LLC Reduces Stake in Chevron Co. (NYSE:CVX)

Franklin Parlapiano Turner & Welch LLC cut its position in shares of Chevron Co. (NYSE:CVX) by 20.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,503 shares of the oil and gas company’s stock after selling 377 shares during the quarter. Franklin Parlapiano Turner & Welch LLC’s holdings in Chevron were worth $218,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of CVX. Rational Advisors LLC purchased a new position in shares of Chevron during the 3rd quarter worth approximately $29,000. Legacy Investment Solutions LLC acquired a new stake in Chevron during the 3rd quarter valued at $29,000. Darwin Wealth Management LLC purchased a new position in Chevron during the third quarter worth $30,000. RPg Family Wealth Advisory LLC acquired a new position in shares of Chevron in the third quarter worth $31,000. Finally, Krane Funds Advisors LLC purchased a new stake in shares of Chevron in the third quarter valued at $47,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Activity

In related news, CEO Michael K. Wirth sold 164,600 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the completion of the transaction, the chief executive officer now owns 4,280 shares in the company, valued at $685,356.40. The trade was a 97.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

CVX has been the subject of several analyst reports. UBS Group boosted their target price on shares of Chevron from $194.00 to $195.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Barclays upped their price target on shares of Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective on the stock in a report on Tuesday, November 5th. Raymond James upped their price target on shares of Chevron from $175.00 to $180.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. Finally, Wells Fargo & Company increased their price objective on shares of Chevron from $171.00 to $188.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Chevron has a consensus rating of “Moderate Buy” and a consensus target price of $175.27.

Chevron Stock Performance

Chevron stock opened at $156.19 on Friday. The company has a fifty day moving average price of $153.56 and a two-hundred day moving average price of $151.16. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $167.11. The company has a market cap of $280.68 billion, a PE ratio of 17.16, a P/E/G ratio of 1.35 and a beta of 1.12.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, topping the consensus estimate of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The firm had revenue of $50.67 billion for the quarter, compared to analyst estimates of $48.86 billion. During the same quarter in the prior year, the business earned $3.05 earnings per share. Chevron’s quarterly revenue was down 6.3% on a year-over-year basis. Research analysts expect that Chevron Co. will post 10.18 earnings per share for the current year.

Chevron Profile

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.