Chevron Co. (NYSE:CVX) Shares Sold by Boltwood Capital Management

Boltwood Capital Management lessened its position in Chevron Co. (NYSE:CVX) by 3.5% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 23,104 shares of the oil and gas company’s stock after selling 840 shares during the period. Chevron makes up 1.3% of Boltwood Capital Management’s holdings, making the stock its 18th largest position. Boltwood Capital Management’s holdings in Chevron were worth $3,635,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Engrave Wealth Partners LLC raised its stake in shares of Chevron by 0.9% in the 2nd quarter. Engrave Wealth Partners LLC now owns 57,475 shares of the oil and gas company’s stock worth $9,044,000 after buying an additional 509 shares in the last quarter. Armstrong Advisory Group Inc. raised its stake in shares of Chevron by 1.5% in the 2nd quarter. Armstrong Advisory Group Inc. now owns 5,268 shares of the oil and gas company’s stock worth $829,000 after buying an additional 80 shares in the last quarter. Glassy Mountain Advisors Inc. bought a new stake in shares of Chevron in the 2nd quarter worth $202,000. InTrack Investment Management Inc raised its stake in shares of Chevron by 13.2% in the 2nd quarter. InTrack Investment Management Inc now owns 10,324 shares of the oil and gas company’s stock worth $1,625,000 after buying an additional 1,201 shares in the last quarter. Finally, Prentice Wealth Management LLC raised its stake in shares of Chevron by 61.9% in the 2nd quarter. Prentice Wealth Management LLC now owns 2,622 shares of the oil and gas company’s stock worth $413,000 after buying an additional 1,002 shares in the last quarter. Institutional investors own 68.87% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on CVX. Royal Bank of Canada raised Chevron from a “sector perform” rating to an “outperform” rating and boosted their price objective for the stock from $165.00 to $180.00 in a research note on Thursday, June 1st. StockNews.com began coverage on Chevron in a research report on Thursday, August 17th. They set a “hold” rating on the stock. JPMorgan Chase & Co. raised Chevron from an “underweight” rating to a “neutral” rating and boosted their target price for the stock from $161.00 to $170.00 in a research report on Wednesday, May 31st. Morgan Stanley boosted their target price on Chevron from $197.00 to $198.00 and gave the stock an “equal weight” rating in a research report on Friday, August 18th. Finally, Citigroup cut their target price on Chevron from $180.00 to $170.00 in a research report on Tuesday, July 11th. Seven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, Chevron has a consensus rating of “Moderate Buy” and an average target price of $190.28.

Insider Buying and Selling at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 3,750 shares of the business’s stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $160.88, for a total value of $603,300.00. Following the transaction, the vice president now owns 1,718 shares in the company, valued at $276,391.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Chevron news, VP Jeff B. Gustavson sold 3,750 shares of the business’s stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $160.88, for a total value of $603,300.00. Following the transaction, the vice president now owns 1,718 shares in the company, valued at $276,391.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Pierre R. Breber sold 25,000 shares of the business’s stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $164.00, for a total value of $4,100,000.00. Following the completion of the transaction, the chief financial officer now owns 6,021 shares in the company, valued at approximately $987,444. The disclosure for this sale can be found here. Corporate insiders own 0.18% of the company’s stock.

Chevron Stock Performance

Shares of CVX stock opened at $166.50 on Friday. Chevron Co. has a 1-year low of $140.46 and a 1-year high of $189.68. The company has a current ratio of 1.43, a quick ratio of 1.13 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $310.90 billion, a price-to-earnings ratio of 10.56, a P/E/G ratio of 0.89 and a beta of 1.18. The stock’s fifty day simple moving average is $160.56 and its 200-day simple moving average is $160.15.

Chevron (NYSE:CVX) last issued its earnings results on Friday, July 28th. The oil and gas company reported $3.08 EPS for the quarter, beating analysts’ consensus estimates of $2.95 by $0.13. Chevron had a return on equity of 19.48% and a net margin of 13.54%. The firm had revenue of $48.90 billion for the quarter, compared to the consensus estimate of $48 billion. During the same quarter in the previous year, the company posted $5.82 earnings per share. The business’s quarterly revenue was down 28.9% compared to the same quarter last year. On average, sell-side analysts predict that Chevron Co. will post 13.23 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 11th. Shareholders of record on Friday, August 18th were paid a $1.51 dividend. The ex-dividend date was Thursday, August 17th. This represents a $6.04 dividend on an annualized basis and a yield of 3.63%. Chevron’s dividend payout ratio (DPR) is currently 38.30%.

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; liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and processing, transportation, storage, and marketing of natural gas, as well as a gas-to-liquids plant.