Boston Family Office LLC Increases Stake in Chevron Co. (NYSE:CVX)

Boston Family Office LLC increased its holdings in Chevron Co. (NYSE:CVX) by 1.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 112,259 shares of the oil and gas company’s stock after acquiring an additional 1,793 shares during the quarter. Boston Family Office LLC’s holdings in Chevron were worth $16,260,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CVX. United Bank increased its holdings in shares of Chevron by 8.4% in the 3rd quarter. United Bank now owns 8,095 shares of the oil and gas company’s stock valued at $1,192,000 after acquiring an additional 629 shares during the period. Arete Wealth Advisors LLC bought a new stake in Chevron during the third quarter valued at about $2,370,000. Erste Asset Management GmbH purchased a new position in Chevron in the third quarter valued at about $4,850,000. Kestra Investment Management LLC bought a new position in Chevron in the third quarter worth about $1,043,000. Finally, Atom Investors LP bought a new position in Chevron in the third quarter worth about $360,000. 72.42% of the stock is currently owned by institutional investors.

Chevron Stock Up 0.9 %

CVX stock opened at $167.52 on Tuesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The firm’s fifty day simple moving average is $157.22 and its 200-day simple moving average is $153.80. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $168.96. The company has a market capitalization of $294.94 billion, a P/E ratio of 17.23, a price-to-earnings-growth ratio of 1.46 and a beta of 1.08.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share for the quarter, missing the consensus estimate 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 last year, the company earned $3.45 EPS. As a group, equities research analysts forecast that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were issued a $1.71 dividend. The ex-dividend date was Friday, February 14th. This is an increase from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a yield of 4.08%. Chevron’s payout ratio is presently 70.37%.

Insiders Place Their Bets

In related 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 transaction of $1,422,062.50. Following the sale, the vice president now directly owns 1,057 shares of the company’s stock, valued at approximately $161,192.50. This represents a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CVX. Piper Sandler cut their price objective 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. Barclays reduced their price target on Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. Raymond James lowered their price objective on Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research report on Monday, February 3rd. Wells Fargo & Company reduced their target price on Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $175.00 price target on shares of Chevron in a report on Monday, February 3rd. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, Chevron presently has a consensus rating of “Moderate Buy” and a consensus price target 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.