Boston Financial Mangement LLC Has $5.99 Million Stock Holdings in Chevron Co. (NYSE:CVX)

Boston Financial Mangement LLC decreased its stake in shares of Chevron Co. (NYSE:CVX) by 6.1% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 40,669 shares of the oil and gas company’s stock after selling 2,624 shares during the quarter. Boston Financial Mangement LLC’s holdings in Chevron were worth $5,989,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Traynor Capital Management Inc. increased its stake in shares of Chevron by 5.4% during the third quarter. Traynor Capital Management Inc. now owns 17,508 shares of the oil and gas company’s stock worth $2,578,000 after purchasing an additional 894 shares during the period. Cantor Fitzgerald Investment Advisors L.P. grew its holdings in Chevron by 3.2% in the 3rd quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 114,961 shares of the oil and gas company’s stock valued at $16,930,000 after buying an additional 3,561 shares in the last quarter. Hunter Associates Investment Management LLC increased its position in Chevron by 8.9% during the 3rd quarter. Hunter Associates Investment Management LLC now owns 20,705 shares of the oil and gas company’s stock worth $3,046,000 after buying an additional 1,700 shares during the period. Orrstown Financial Services Inc. lifted its holdings in shares of Chevron by 85.6% during the third quarter. Orrstown Financial Services Inc. now owns 8,136 shares of the oil and gas company’s stock worth $1,198,000 after buying an additional 3,752 shares in the last quarter. Finally, Autumn Glory Partners LLC boosted its position in shares of Chevron by 52.8% in the third quarter. Autumn Glory Partners LLC now owns 17,098 shares of the oil and gas company’s stock valued at $2,518,000 after acquiring an additional 5,910 shares during the period. 72.42% of the stock is owned by institutional investors.

Chevron Trading Down 0.2 %

CVX opened at $150.55 on Tuesday. The company has a market cap of $275.34 billion, a P/E ratio of 14.91, a PEG ratio of 3.29 and a beta of 1.09. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13. The company’s 50 day moving average is $146.66 and its 200-day moving average is $153.15. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11.

Chevron (NYSE:CVX) last issued its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). The company had revenue of $51.18 billion during the quarter, compared to analyst estimates of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. The business’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.08 EPS. Equities research analysts predict that Chevron Co. will post 10.86 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.33%. The ex-dividend date was Monday, August 19th. Chevron’s payout ratio is 64.55%.

Analysts Set New Price Targets

A number of equities analysts recently commented on CVX shares. Bank of America assumed coverage on shares of Chevron in a research report on Thursday, October 17th. They set a “buy” rating and a $168.00 price target on the stock. UBS Group raised their target price on shares of Chevron from $189.00 to $192.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Wolfe Research initiated coverage on Chevron in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. Scotiabank lowered their price objective on Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Finally, Wells Fargo & Company cut their target price on Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research report on Friday, September 27th. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, Chevron currently has a consensus rating of “Moderate Buy” and a consensus price target of $173.07.

Chevron Company 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.