Boston Financial Mangement LLC Has $5.52 Million Stock Holdings in Chevron Co. (NYSE:CVX)

Boston Financial Mangement LLC reduced its stake in shares of Chevron Co. (NYSE:CVX) by 6.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 38,119 shares of the oil and gas company’s stock after selling 2,550 shares during the period. Boston Financial Mangement LLC’s holdings in Chevron were worth $5,521,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC increased its holdings in Chevron by 14.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 223,561 shares of the oil and gas company’s stock worth $32,924,000 after purchasing an additional 27,483 shares in the last quarter. Xcel Wealth Management LLC grew its holdings in shares of Chevron by 3.3% during the third quarter. Xcel Wealth Management LLC now owns 4,048 shares of the oil and gas company’s stock worth $596,000 after buying an additional 131 shares in the last quarter. Eastern Bank grew its holdings in shares of Chevron by 82.2% during the third quarter. Eastern Bank now owns 256,979 shares of the oil and gas company’s stock worth $37,845,000 after buying an additional 115,927 shares in the last quarter. Pegasus Asset Management Inc. lifted its stake in Chevron by 0.6% in the 3rd quarter. Pegasus Asset Management Inc. now owns 28,829 shares of the oil and gas company’s stock valued at $4,246,000 after acquiring an additional 169 shares in the last quarter. Finally, Hofer & Associates. Inc boosted its position in Chevron by 9.1% during the 3rd quarter. Hofer & Associates. Inc now owns 1,652 shares of the oil and gas company’s stock worth $243,000 after acquiring an additional 138 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

Shares of CVX stock opened at $157.14 on Thursday. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.11. The company has a market capitalization of $282.39 billion, a price-to-earnings ratio of 16.17, a PEG ratio of 1.43 and a beta of 1.11. The company has a 50-day simple moving average of $151.82 and a 200 day simple moving average of $150.85. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (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 period in the prior year, the firm posted $3.45 EPS. On average, sell-side analysts predict that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 4.35%. This is a positive change from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date is Friday, February 14th. Chevron’s dividend payout ratio is currently 70.37%.

Analyst Ratings Changes

A number of analysts have recently issued reports on CVX shares. Truist Financial lowered their price objective on shares of Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a report on Tuesday, February 4th. Citigroup upgraded shares of Chevron from a “neutral” rating to a “buy” rating and lifted their price target for the company from $145.00 to $185.00 in a research note on Tuesday, November 26th. Piper Sandler reduced their price objective on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Barclays lowered their target price on Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. Finally, Wells Fargo & Company reduced their price target on Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $174.13.

Insider Transactions at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the transaction, the vice president now owns 1,057 shares in the company, valued at $161,192.50. This represents a 89.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.20% of the company’s stock.

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.