Boston Family Office LLC Sells 950 Shares of Chevron Corporation (NYSE:CVX)

Boston Family Office LLC trimmed its holdings in Chevron Corporation (NYSE:CVX) by 0.8% in the first quarter, HoldingsChannel reports. The fund owned 111,309 shares of the oil and gas company’s stock after selling 950 shares during the period. Chevron makes up 1.3% of Boston Family Office LLC’s investment portfolio, making the stock its 26th biggest position. Boston Family Office LLC’s holdings in Chevron were worth $18,621,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in CVX. Harvest Fund Management Co. Ltd lifted its holdings in shares of Chevron by 420.7% in the 1st quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 122 shares during the last quarter. 10Elms LLP bought a new stake in Chevron during the 4th quarter valued at $29,000. Navigoe LLC bought a new stake in Chevron during the 4th quarter valued at $33,000. IFS Advisors LLC raised its holdings in Chevron by 119.6% during the 1st quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company’s stock valued at $36,000 after buying an additional 116 shares during the last quarter. Finally, Cloud Capital Management LLC bought a new stake in Chevron during the 1st quarter valued at $39,000. 72.42% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on CVX shares. Morgan Stanley started coverage on shares of Chevron in a report on Monday, August 4th. They set an “overweight” rating and a $174.00 price target for the company. TD Cowen upped their price target on shares of Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a report on Monday, August 4th. Piper Sandler reiterated an “overweight” rating on shares of Chevron in a report on Tuesday, July 15th. Jefferies Financial Group reiterated a “buy” rating on shares of Chevron in a report on Friday, July 18th. Finally, Mizuho lowered their price target on shares of Chevron from $188.00 to $186.00 and set an “outperform” rating for the company in a report on Tuesday, May 13th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, Chevron currently has a consensus rating of “Hold” and an average price target of $164.11.

Chevron Stock Up 0.9%

NYSE:CVX opened at $156.52 on Friday. The firm’s 50-day moving average price is $150.13 and its 200-day moving average price is $148.59. The company has a market capitalization of $270.46 billion, a PE ratio of 20.14, a P/E/G ratio of 2.33 and a beta of 0.87. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.00 and a quick ratio of 0.74. Chevron Corporation has a 1-year low of $132.04 and a 1-year high of $168.96.

Chevron (NYSE:CVX) last released its earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $0.19. The firm had revenue of $44.82 billion for the quarter, compared to the consensus estimate of $44.59 billion. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The company’s revenue was down 12.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.55 EPS. On average, equities analysts predict that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th will be given a $1.71 dividend. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.4%. Chevron’s dividend payout ratio is currently 88.03%.

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.