Boothe Investment Group Inc. Reduces Position in Chevron Co. (NYSE:CVX)

Boothe Investment Group Inc. decreased its holdings in Chevron Co. (NYSE:CVX) by 0.3% during the 4th quarter, Holdings Channel.com reports. The fund owned 46,212 shares of the oil and gas company’s stock after selling 152 shares during the quarter. Chevron accounts for 3.1% of Boothe Investment Group Inc.’s investment portfolio, making the stock its 10th biggest holding. Boothe Investment Group Inc.’s holdings in Chevron were worth $6,893,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Chevron by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 161,924,375 shares of the oil and gas company’s stock worth $27,303,688,000 after buying an additional 458,080 shares in the last quarter. Morgan Stanley lifted its position in shares of Chevron by 7.0% during the 3rd quarter. Morgan Stanley now owns 34,166,899 shares of the oil and gas company’s stock worth $5,761,223,000 after buying an additional 2,244,995 shares in the last quarter. Moneta Group Investment Advisors LLC lifted its position in shares of Chevron by 104,997.3% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 24,490,824 shares of the oil and gas company’s stock worth $4,395,858,000 after buying an additional 24,467,521 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Chevron by 1.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 24,236,141 shares of the oil and gas company’s stock worth $4,059,834,000 after buying an additional 368,898 shares in the last quarter. Finally, Northern Trust Corp lifted its position in shares of Chevron by 2.6% during the 3rd quarter. Northern Trust Corp now owns 22,705,118 shares of the oil and gas company’s stock worth $3,828,537,000 after buying an additional 569,850 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

CVX has been the topic of several recent analyst reports. Barclays initiated coverage on shares of Chevron in a research report on Wednesday, April 10th. They set an “overweight” rating and a $203.00 target price on the stock. The Goldman Sachs Group restated a “buy” rating on shares of Chevron in a research note on Monday, April 1st. Jefferies Financial Group upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $184.00 price target for the company in a research note on Monday, January 8th. Piper Sandler decreased their price target on shares of Chevron from $188.00 to $180.00 and set an “overweight” rating for the company in a research note on Thursday, March 14th. Finally, Mizuho raised their price target on shares of Chevron from $195.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $183.60.

Chevron Stock Down 1.8 %

Chevron stock opened at $158.96 on Monday. Chevron Co. has a 1-year low of $139.62 and a 1-year high of $172.88. The firm has a market capitalization of $295.23 billion, a price-to-earnings ratio of 13.99, a P/E/G ratio of 2.40 and a beta of 1.12. The company has a current ratio of 1.27, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. The firm has a 50 day simple moving average of $154.92 and a 200 day simple moving average of $152.01.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $3.45 EPS for the quarter, beating analysts’ consensus estimates of $3.19 by $0.26. The firm had revenue of $47.18 billion during the quarter, compared to analyst estimates of $50.93 billion. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The business’s revenue for the quarter was down 16.5% on a year-over-year basis. During the same period in the previous year, the business earned $4.09 EPS. On average, analysts predict that Chevron Co. will post 13.24 earnings per share for the current year.

Chevron Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Friday, February 16th were given a dividend of $1.63 per share. This is a positive change from Chevron’s previous quarterly dividend of $1.51. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.10%. The ex-dividend date was Thursday, February 15th. Chevron’s payout ratio is 57.39%.

Insider Activity

In other news, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total transaction of $448,252.00. Following the completion of the transaction, the vice president now directly owns 276 shares in the company, valued at approximately $44,184.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.18% of the company’s stock.

About Chevron

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.