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

Boston Financial Mangement LLC lessened its holdings in Chevron Co. (NYSE:CVX - Free Report) by 6.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund 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 reporting period.

Several other hedge funds also recently modified their holdings of the business. Tacita Capital Inc boosted its stake in shares of Chevron by 16.7% in the 3rd quarter. Tacita Capital Inc now owns 454 shares of the oil and gas company's stock valued at $67,000 after purchasing an additional 65 shares during the last quarter. Wallace Capital Management Inc. raised its position in shares of Chevron by 0.8% in the 3rd quarter. Wallace Capital Management Inc. now owns 8,229 shares of the oil and gas company's stock valued at $1,212,000 after acquiring an additional 65 shares during the period. TFB Advisors LLC raised its position in shares of Chevron by 2.4% in the 4th quarter. TFB Advisors LLC now owns 2,840 shares of the oil and gas company's stock valued at $411,000 after acquiring an additional 66 shares during the period. W.H. Cornerstone Investments Inc. raised its position in shares of Chevron by 1.4% in the 4th quarter. W.H. Cornerstone Investments Inc. now owns 4,672 shares of the oil and gas company's stock valued at $677,000 after acquiring an additional 66 shares during the period. Finally, S.A. Mason LLC raised its position in shares of Chevron by 0.7% in the 3rd quarter. S.A. Mason LLC now owns 9,033 shares of the oil and gas company's stock valued at $1,330,000 after acquiring an additional 67 shares during the period. Institutional investors own 72.42% of the company's stock.

Insider Buying and Selling

In related news, VP Jeff B. Gustavson sold 9,325 shares of the company's stock in a transaction dated 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 completion of the sale, the vice president now owns 1,057 shares of the company's stock, valued at $161,192.50. This represents a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.20% of the stock is currently owned by company insiders.

Chevron Stock Performance

Shares of Chevron stock traded down $1.87 during trading on Friday, reaching $156.92. The company's stock had a trading volume of 6,686,883 shares, compared to its average volume of 6,690,703. The business's 50-day moving average price is $151.97 and its 200-day moving average price is $151.05. The firm has a market cap of $282.00 billion, a PE ratio of 16.14, a P/E/G ratio of 1.46 and a beta of 1.11. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.11. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX - Get Free Report) last announced its earnings results 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 net margin of 8.71% and a return on equity of 11.44%. During the same quarter in the prior year, the firm posted $3.45 earnings per share. Equities analysts forecast 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. Investors of record on Friday, February 14th will be given a dividend of $1.71 per share. This is a boost from Chevron's previous quarterly dividend of $1.63. The ex-dividend date is Friday, February 14th. This represents a $6.84 annualized dividend and a yield of 4.36%. Chevron's dividend payout ratio is currently 70.37%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CVX. Wells Fargo & Company cut their price target on shares of Chevron from $188.00 to $184.00 and set an "overweight" rating on the stock in a research report on Monday, February 3rd. Piper Sandler cut their price target on shares of Chevron from $184.00 to $173.00 and set an "overweight" rating on the stock in a research report on Thursday, December 19th. Truist Financial cut their price target on shares of Chevron from $164.00 to $160.00 and set a "hold" rating on the stock in a research report on Tuesday, February 4th. Raymond James dropped their target price on shares of Chevron from $180.00 to $175.00 and set an "outperform" rating on the stock in a report on Monday, February 3rd. Finally, UBS Group dropped their target price on shares of Chevron from $195.00 to $194.00 and set a "buy" rating on the stock in a report on Monday, February 3rd. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $174.13.

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.