Boston Family Office LLC Has $16.34 Million Stock Position in Chevron Corporation $CVX

Boston Family Office LLC raised its position in Chevron Corporation (NYSE:CVX) by 2.5% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 114,116 shares of the oil and gas company’s stock after acquiring an additional 2,807 shares during the period. Chevron makes up about 1.1% of Boston Family Office LLC’s holdings, making the stock its 28th largest position. Boston Family Office LLC’s holdings in Chevron were worth $16,341,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. OMERS ADMINISTRATION Corp lifted its holdings in shares of Chevron by 11.4% in the 2nd quarter. OMERS ADMINISTRATION Corp now owns 77,323 shares of the oil and gas company’s stock worth $11,072,000 after purchasing an additional 7,900 shares in the last quarter. Fisher Asset Management LLC raised its holdings in Chevron by 1.9% during the second quarter. Fisher Asset Management LLC now owns 20,826,805 shares of the oil and gas company’s stock worth $2,982,190,000 after buying an additional 378,936 shares during the last quarter. Edgestream Partners L.P. raised its holdings in Chevron by 84.6% during the second quarter. Edgestream Partners L.P. now owns 35,829 shares of the oil and gas company’s stock worth $5,130,000 after buying an additional 16,417 shares during the last quarter. Smith Moore & CO. lifted its stake in shares of Chevron by 9.9% in the second quarter. Smith Moore & CO. now owns 18,877 shares of the oil and gas company’s stock valued at $2,703,000 after buying an additional 1,706 shares in the last quarter. Finally, Sepio Capital LP grew its holdings in shares of Chevron by 20.7% during the second quarter. Sepio Capital LP now owns 30,047 shares of the oil and gas company’s stock valued at $4,302,000 after buying an additional 5,154 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on CVX shares. Zacks Research lowered shares of Chevron from a “hold” rating to a “strong sell” rating in a report on Monday, November 24th. Bank of America lifted their price target on Chevron from $170.00 to $185.00 and gave the company a “buy” rating in a research note on Wednesday, September 10th. Piper Sandler lowered their price objective on Chevron from $171.00 to $169.00 and set an “overweight” rating for the company in a research note on Monday, November 10th. TD Cowen raised their target price on Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a report on Monday, August 4th. Finally, Wells Fargo & Company upped their price target on Chevron from $190.00 to $196.00 and gave the stock an “overweight” rating in a report on Friday, November 14th. Ten research analysts have rated the stock with a Buy rating, nine have given a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $165.58.

Chevron Price Performance

Shares of NYSE CVX opened at $151.21 on Monday. The company has a market capitalization of $304.46 billion, a PE ratio of 19.46, a PEG ratio of 4.40 and a beta of 0.83. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16. The stock’s 50 day moving average price is $153.97 and its 200-day moving average price is $151.29. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, October 31st. The oil and gas company reported $1.85 EPS for the quarter, topping analysts’ consensus estimates of $1.71 by $0.14. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The business had revenue of $48.17 billion for the quarter, compared to analyst estimates of $46.99 billion. During the same period last year, the company posted $2.48 earnings per share. Chevron’s quarterly revenue was down 1.9% compared to the same quarter last year. On average, equities analysts anticipate that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Tuesday, November 18th will be paid a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date is Tuesday, November 18th. Chevron’s payout ratio is presently 96.20%.

Insider Buying and Selling at Chevron

In related news, Director John B. Hess sold 275,000 shares of the stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $150.75, for a total transaction of $41,456,250.00. Following the completion of the transaction, the director owned 1,128,045 shares in the company, valued at approximately $170,052,783.75. This represents a 19.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.21% 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.