Boothe Investment Group Inc. Acquires 5,797 Shares of Chevron Corporation $CVX

Boothe Investment Group Inc. boosted its holdings in shares of Chevron Corporation (NYSE:CVX) by 15.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 44,204 shares of the oil and gas company’s stock after purchasing an additional 5,797 shares during the quarter. Chevron comprises approximately 2.4% of Boothe Investment Group Inc.’s holdings, making the stock its 18th largest position. Boothe Investment Group Inc.’s holdings in Chevron were worth $6,330,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in CVX. Kingstone Capital Partners Texas LLC boosted its stake in Chevron by 652,139.5% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 83,714,936 shares of the oil and gas company’s stock valued at $13,214,757,000 after purchasing an additional 83,702,101 shares during the period. GQG Partners LLC bought a new stake in shares of Chevron in the 1st quarter worth approximately $1,466,751,000. Nuveen LLC bought a new stake in shares of Chevron in the 1st quarter worth approximately $1,362,232,000. Charles Schwab Investment Management Inc. lifted its position in shares of Chevron by 4.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 33,430,030 shares of the oil and gas company’s stock worth $5,592,263,000 after acquiring an additional 1,574,464 shares during the period. Finally, Canada Pension Plan Investment Board lifted its position in shares of Chevron by 141.2% in the 1st quarter. Canada Pension Plan Investment Board now owns 1,891,824 shares of the oil and gas company’s stock worth $316,483,000 after acquiring an additional 1,107,628 shares during the period. Institutional investors own 72.42% of the company’s stock.

Chevron Trading Down 0.6%

CVX stock opened at $155.63 on Friday. The business has a fifty day moving average price of $156.04 and a 200 day moving average price of $148.38. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The stock has a market capitalization of $268.92 billion, a price-to-earnings ratio of 20.03, a P/E/G ratio of 4.45 and a beta of 0.84. 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 (NYSE:CVX) last released its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, beating analysts’ consensus estimates of $1.58 by $0.19. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The firm had revenue of $44.82 billion during the quarter, compared to analysts’ expectations of $44.59 billion. During the same period last year, the firm posted $2.55 EPS. The business’s revenue was down 12.4% on a year-over-year basis. Analysts expect that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were paid a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.4%. The ex-dividend date of this dividend was Tuesday, August 19th. Chevron’s dividend payout ratio (DPR) is 88.03%.

Insider Buying and Selling at Chevron

In other news, Director John B. Hess sold 375,000 shares of Chevron stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $158.30, for a total value of $59,362,500.00. Following the completion of the sale, the director directly owned 1,403,045 shares of the company’s stock, valued at approximately $222,102,023.50. This trade represents a 21.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Alana K. Knowles sold 3,978 shares of Chevron stock in a transaction on Friday, August 29th. The shares were sold at an average price of $160.00, for a total value of $636,480.00. Following the completion of the sale, the vice president directly owned 1,181 shares of the company’s stock, valued at $188,960. This trade represents a 77.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by company insiders.

Analyst Ratings Changes

CVX has been the subject of a number of research reports. Piper Sandler raised their price objective on Chevron from $164.00 to $168.00 and gave the stock an “overweight” rating in a research report on Monday, August 18th. Mizuho reduced their price objective on Chevron from $192.00 to $191.00 and set an “outperform” rating for the company in a research report on Monday, September 15th. Melius assumed coverage on Chevron in a research report on Wednesday, August 20th. They set a “hold” rating and a $155.00 target price for the company. Wells Fargo & Company assumed coverage on Chevron in a research report on Friday, October 17th. They set an “overweight” rating and a $190.00 target price for the company. Finally, Raymond James Financial restated an “outperform” rating and set a $160.00 target price (down previously from $170.00) on shares of Chevron in a research report on Friday, October 17th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, nine have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $165.25.

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.