Boston Financial Mangement LLC Sells 2,550 Shares of Chevron Co. (NYSE:CVX)

Boston Financial Mangement LLC lowered its holdings in Chevron Co. (NYSE:CVX) by 6.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 38,119 shares of the oil and gas company’s stock after selling 2,550 shares during the quarter. Boston Financial Mangement LLC’s holdings in Chevron were worth $5,521,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Marietta Wealth Management LLC raised its holdings in shares of Chevron by 10.9% in the 3rd quarter. Marietta Wealth Management LLC now owns 40,484 shares of the oil and gas company’s stock worth $5,962,000 after buying an additional 3,965 shares in the last quarter. Leo Wealth LLC grew its position in Chevron by 19.6% in the third quarter. Leo Wealth LLC now owns 8,246 shares of the oil and gas company’s stock valued at $1,214,000 after acquiring an additional 1,354 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Chevron by 11.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 31,108,760 shares of the oil and gas company’s stock worth $4,581,137,000 after acquiring an additional 3,203,899 shares in the last quarter. RPG Investment Advisory LLC lifted its holdings in shares of Chevron by 3.4% during the third quarter. RPG Investment Advisory LLC now owns 121,167 shares of the oil and gas company’s stock valued at $17,844,000 after acquiring an additional 3,933 shares during the period. Finally, State Street Corp boosted its stake in shares of Chevron by 0.6% in the 3rd quarter. State Street Corp now owns 159,105,244 shares of the oil and gas company’s stock valued at $23,431,429,000 after purchasing an additional 874,962 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Up 0.6 %

Shares of NYSE CVX opened at $157.14 on Thursday. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11. The firm’s 50-day moving average is $151.82 and its 200-day moving average is $150.85. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $282.39 billion, a PE ratio of 16.17, a price-to-earnings-growth ratio of 1.43 and a beta of 1.11.

Chevron (NYSE:CVX) last released its earnings results on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.36). Chevron had a return on equity of 11.44% and a net margin of 8.71%. During the same quarter last year, the business posted $3.45 EPS. Equities analysts expect that Chevron Co. 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 Monday, March 10th. Shareholders of record on Friday, February 14th will be paid a $1.71 dividend. This is a positive change from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.84 annualized dividend and a yield of 4.35%. Chevron’s dividend payout ratio is presently 70.37%.

Insiders Place Their Bets

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the stock in a transaction on Friday, February 7th. The shares were sold at an average price of $152.50, for a total value of $1,422,062.50. Following the sale, the vice president now directly owns 1,057 shares in the company, valued at approximately $161,192.50. This trade represents a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Piper Sandler cut their price target on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. UBS Group cut their target price on shares of Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a research note on Monday, February 3rd. Royal Bank of Canada restated an “outperform” rating and set a $175.00 price target on shares of Chevron in a research report on Monday, February 3rd. Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $145.00 to $185.00 in a research report on Tuesday, November 26th. Finally, DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price on the stock in a report on Tuesday, November 5th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, Chevron presently has an average rating of “Moderate Buy” and an average target price of $174.13.

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.