BOS Asset Management LLC Lowers Stock Holdings in Chevron Co. (NYSE:CVX)

BOS Asset Management LLC reduced its position in Chevron Co. (NYSE:CVX) by 0.7% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 9,258 shares of the oil and gas company’s stock after selling 65 shares during the period. BOS Asset Management LLC’s holdings in Chevron were worth $1,460,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Renaissance Investment Group LLC boosted its holdings in shares of Chevron by 12.7% in the 4th quarter. Renaissance Investment Group LLC now owns 6,187 shares of the oil and gas company’s stock valued at $923,000 after purchasing an additional 697 shares during the last quarter. Camelot Portfolios LLC acquired a new position in shares of Chevron in the 4th quarter valued at $254,000. Kapstone Financial Advisors LLC boosted its holdings in shares of Chevron by 5.3% in the 4th quarter. Kapstone Financial Advisors LLC now owns 4,216 shares of the oil and gas company’s stock valued at $626,000 after purchasing an additional 211 shares during the last quarter. Eagle Capital Management LLC boosted its holdings in shares of Chevron by 0.5% in the 1st quarter. Eagle Capital Management LLC now owns 34,455 shares of the oil and gas company’s stock valued at $5,435,000 after purchasing an additional 163 shares during the last quarter. Finally, Lane & Associates LLC acquired a new position in shares of Chevron in the 1st quarter valued at $345,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Price Performance

NYSE:CVX traded up $1.96 during trading hours on Monday, reaching $157.55. 936,093 shares of the company’s stock were exchanged, compared to its average volume of 7,880,579. The company has a market capitalization of $290.36 billion, a P/E ratio of 14.47, a price-to-earnings-growth ratio of 2.36 and a beta of 1.10. Chevron Co. has a 12 month low of $139.62 and a 12 month high of $171.70. The company has a quick ratio of 0.93, a current ratio of 1.23 and a debt-to-equity ratio of 0.13. The business’s 50-day simple moving average is $157.75 and its two-hundred day simple moving average is $155.10.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, topping analysts’ consensus estimates of $2.84 by $0.09. Chevron had a net margin of 10.21% and a return on equity of 14.40%. The firm had revenue of $48.72 billion during the quarter, compared to analyst estimates of $48.42 billion. During the same quarter last year, the business posted $3.55 EPS. The company’s revenue was down 4.1% on a year-over-year basis. Sell-side analysts expect that Chevron Co. will post 13.18 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 17th were paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 4.14%. The ex-dividend date was Thursday, May 16th. Chevron’s dividend payout ratio is 59.98%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on CVX shares. Barclays started coverage on shares of Chevron in a report on Wednesday, April 10th. They set an “overweight” rating and a $203.00 target price on the stock. Raymond James lifted their target price on shares of Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a report on Monday, April 15th. Truist Financial lifted their target price on shares of Chevron from $156.00 to $166.00 and gave the company a “hold” rating in a report on Friday, May 10th. HSBC lifted their target price on shares of Chevron from $175.00 to $178.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. Finally, Mizuho lifted their target price on shares of Chevron from $200.00 to $205.00 and gave the company a “buy” rating in a report on Monday, May 13th. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, Chevron presently has a consensus rating of “Moderate Buy” and a consensus price target of $187.06.

Insiders Place Their Bets

In other Chevron news, VP Jeff B. Gustavson sold 3,750 shares of the stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $160.23, for a total value of $600,862.50. Following the completion of the sale, the vice president now owns 477 shares in the company, valued at approximately $76,429.71. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Enrique Hernandez, Jr. sold 2,549 shares of the firm’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $165.24, for a total transaction of $421,196.76. Following the transaction, the director now owns 27,725 shares in the company, valued at approximately $4,581,279. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Jeff B. Gustavson sold 3,750 shares of the firm’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $160.23, for a total transaction of $600,862.50. Following the transaction, the vice president now owns 477 shares in the company, valued at approximately $76,429.71. The disclosure for this sale can be found here. Insiders sold a total of 16,746 shares of company stock worth $2,727,971 in the last quarter. 0.20% of the stock is currently owned by corporate insiders.

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.