Chevron Corporation $CVX Shares Sold by Boston Trust Walden Corp

Key Points

• Boston Trust Walden Corp reduced its stake in Chevron by 4.9%, selling 6,320 shares during the second quarter, leaving them with a total of 123,185 shares worth approximately $17.6 million.
• Insider selling was notable, with Director John B. Hess selling 375,000 shares for over $59 million, reducing his ownership by 21.09%.
• Chevron has a consensus "Hold" rating from analysts, with target prices ranging from $155 to $191, and reported earnings per share of $1.77 during its last quarter, beating expectations.

Boston Trust Walden Corp lessened its stake in shares of Chevron Corporation (NYSE:CVX - Free Report) by 4.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 123,185 shares of the oil and gas company's stock after selling 6,320 shares during the quarter. Boston Trust Walden Corp's holdings in Chevron were worth $17,639,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. CCG Wealth Management LLC boosted its holdings in shares of Chevron by 2.3% during the first quarter. CCG Wealth Management LLC now owns 6,334 shares of the oil and gas company's stock worth $1,060,000 after purchasing an additional 145 shares during the last quarter. Ignite Planners LLC boosted its holdings in shares of Chevron by 14.1% during the first quarter. Ignite Planners LLC now owns 12,316 shares of the oil and gas company's stock worth $2,060,000 after purchasing an additional 1,519 shares during the last quarter. Vista Capital Partners Inc. boosted its holdings in shares of Chevron by 9.1% during the first quarter. Vista Capital Partners Inc. now owns 5,938 shares of the oil and gas company's stock worth $993,000 after purchasing an additional 495 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in shares of Chevron by 0.5% during the first quarter. Oregon Public Employees Retirement Fund now owns 143,914 shares of the oil and gas company's stock worth $24,075,000 after purchasing an additional 675 shares during the last quarter. Finally, Capital Advisors Inc. OK boosted its holdings in shares of Chevron by 0.3% during the first quarter. Capital Advisors Inc. OK now owns 569,258 shares of the oil and gas company's stock worth $95,231,000 after purchasing an additional 1,755 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company's stock.

Insider Activity

In other news, Director John B. Hess sold 375,000 shares of Chevron stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $158.30, for a total transaction of $59,362,500.00. Following the sale, the director directly owned 1,403,045 shares of the company's stock, valued at approximately $222,102,023.50. The trade was a 21.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Alana K. Knowles sold 3,978 shares of Chevron stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $160.00, for a total value of $636,480.00. Following the sale, the vice president directly owned 1,181 shares in the company, valued at approximately $188,960. The trade was a 77.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.20% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CVX. Melius began coverage on Chevron in a report on Wednesday, August 20th. They issued a "hold" rating and a $155.00 target price on the stock. TD Cowen lifted 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. Piper Sandler lifted their target price on Chevron from $164.00 to $168.00 and gave the company an "overweight" rating in a report on Monday, August 18th. Mizuho reduced their target price on Chevron from $192.00 to $191.00 and set an "outperform" rating on the stock in a report on Monday, September 15th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Chevron in a report on Wednesday, October 8th. Eleven analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, Chevron presently has a consensus rating of "Hold" and an average price target of $165.40.

Chevron Trading Up 0.4%

NYSE:CVX opened at $152.47 on Wednesday. The business's 50-day moving average is $156.12 and its two-hundred day moving average is $148.34. 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 12 month low of $132.04 and a 12 month high of $168.96. The firm has a market capitalization of $263.47 billion, a PE ratio of 19.62, a price-to-earnings-growth ratio of 1.97 and a beta of 0.84.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, beating the consensus estimate of $1.58 by $0.19. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The company had revenue of $44.82 billion for the quarter, compared to analyst estimates of $44.59 billion. During the same period last year, the company posted $2.55 earnings per share. The firm's revenue was down 12.4% compared to the same quarter last year. Research analysts predict that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were given a $1.71 dividend. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $6.84 annualized dividend and a yield of 4.5%. Chevron's dividend payout ratio (DPR) is 88.03%.

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.

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