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

Boothe Investment Group Inc. lowered its position in Chevron Co. (NYSE:CVX - Free Report) by 8.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 38,407 shares of the oil and gas company's stock after selling 3,339 shares during the quarter. Chevron comprises about 2.9% of Boothe Investment Group Inc.'s portfolio, making the stock its 13th largest position. Boothe Investment Group Inc.'s holdings in Chevron were worth $6,425,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Sage Capital Advisors llc increased its position in shares of Chevron by 2.2% during the first quarter. Sage Capital Advisors llc now owns 42,421 shares of the oil and gas company's stock worth $7,097,000 after acquiring an additional 919 shares during the period. Pines Wealth Management LLC lifted its holdings in shares of Chevron by 3.3% in the 1st quarter. Pines Wealth Management LLC now owns 7,808 shares of the oil and gas company's stock worth $1,306,000 after buying an additional 253 shares during the period. Viking Fund Management LLC grew its position in shares of Chevron by 9.3% during the 1st quarter. Viking Fund Management LLC now owns 117,000 shares of the oil and gas company's stock worth $19,573,000 after buying an additional 10,000 shares in the last quarter. Allianz SE purchased a new stake in Chevron in the fourth quarter worth about $9,369,000. Finally, Nicholas Company Inc. grew its holdings in Chevron by 4.3% during the 4th quarter. Nicholas Company Inc. now owns 80,025 shares of the oil and gas company's stock worth $11,591,000 after acquiring an additional 3,280 shares in the last quarter. Institutional investors own 72.42% of the company's stock.

Chevron Stock Performance

CVX stock traded up $0.16 during trading on Monday, reaching $146.07. The company had a trading volume of 10,078,133 shares, compared to its average volume of 8,190,321. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. Chevron Co. has a twelve month low of $132.04 and a twelve month high of $168.96. The company has a market cap of $255.09 billion, a price-to-earnings ratio of 15.03, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83. The firm has a 50-day simple moving average of $138.53 and a 200-day simple moving average of $149.02.

Chevron (NYSE:CVX - Get Free Report) last announced its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, beating analysts' consensus estimates of $2.15 by $0.03. Chevron had a net margin of 8.71% and a return on equity of 11.44%. The firm had revenue of $47.61 billion for the quarter, compared to analyst estimates of $49.05 billion. During the same period in the previous year, the company earned $2.93 earnings per share. The business's quarterly revenue was down 2.3% compared to the same quarter last year. As a group, sell-side analysts expect that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.68%. The ex-dividend date was Monday, May 19th. Chevron's dividend payout ratio is presently 78.17%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on CVX shares. Wells Fargo & Company reduced their price target on shares of Chevron from $173.00 to $164.00 and set an "overweight" rating for the company in a report on Monday, May 5th. Redburn Atlantic reissued a "sell" rating and issued a $124.00 price objective (down previously from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. Piper Sandler dropped their target price on Chevron from $173.00 to $162.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 13th. HSBC downgraded Chevron from a "buy" rating to a "hold" rating and cut their price target for the company from $176.00 to $158.00 in a report on Tuesday, May 13th. Finally, BNP Paribas cut Chevron to a "cautious" rating in a research note on Tuesday, April 15th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $160.24.

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.