Boyd Watterson Asset Management LLC OH Sells 137 Shares of Chevron Co. (NYSE:CVX)

Boyd Watterson Asset Management LLC OH decreased its position in Chevron Co. (NYSE:CVX) by 0.7% during the 4th quarter, Holdings Channel.com reports. The fund owned 18,331 shares of the oil and gas company’s stock after selling 137 shares during the quarter. Chevron comprises 1.1% of Boyd Watterson Asset Management LLC OH’s investment portfolio, making the stock its 26th largest holding. Boyd Watterson Asset Management LLC OH’s holdings in Chevron were worth $2,734,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Herold Advisors Inc. lifted its stake in Chevron by 1.9% in the fourth quarter. Herold Advisors Inc. now owns 24,465 shares of the oil and gas company’s stock valued at $3,650,000 after buying an additional 446 shares during the period. WD Rutherford LLC raised its position in shares of Chevron by 0.4% during the fourth quarter. WD Rutherford LLC now owns 21,670 shares of the oil and gas company’s stock worth $3,088,000 after purchasing an additional 85 shares during the period. Overbrook Management Corp raised its position in shares of Chevron by 24.8% during the fourth quarter. Overbrook Management Corp now owns 5,028 shares of the oil and gas company’s stock worth $750,000 after purchasing an additional 1,000 shares during the period. AM Investment Strategies LLC raised its position in shares of Chevron by 6.6% during the fourth quarter. AM Investment Strategies LLC now owns 6,441 shares of the oil and gas company’s stock worth $961,000 after purchasing an additional 399 shares during the period. Finally, Jackson Hole Capital Partners LLC raised its position in shares of Chevron by 9.8% during the fourth quarter. Jackson Hole Capital Partners LLC now owns 13,208 shares of the oil and gas company’s stock worth $1,970,000 after purchasing an additional 1,177 shares during the period. Institutional investors own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on CVX shares. Wells Fargo & Company raised their price target on Chevron from $185.00 to $198.00 and gave the stock an “overweight” rating in a research report on Thursday, April 4th. Scotiabank raised Chevron from a “sector perform” rating to a “sector outperform” rating and raised their price target for the stock from $170.00 to $195.00 in a research report on Thursday, April 11th. Raymond James lifted their target price on Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a research report on Monday, April 15th. The Goldman Sachs Group reissued a “buy” rating on shares of Chevron in a research report on Monday, April 1st. Finally, Truist Financial dropped their target price on Chevron from $168.00 to $156.00 and set a “hold” rating on the stock in a research report on Friday, April 5th. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $184.75.

Chevron Stock Performance

Shares of NYSE CVX traded up $0.61 during midday trading on Friday, hitting $165.89. 9,736,350 shares of the company’s stock were exchanged, compared to its average volume of 7,082,480. The company has a quick ratio of 1.01, a current ratio of 1.27 and a debt-to-equity ratio of 0.13. Chevron Co. has a 12 month low of $139.62 and a 12 month high of $171.70. The company’s 50 day moving average price is $156.58 and its 200 day moving average price is $151.83. The firm has a market capitalization of $308.10 billion, a PE ratio of 14.60, a price-to-earnings-growth ratio of 2.43 and a beta of 1.12.

Chevron (NYSE:CVX) last issued its earnings results on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, topping the consensus estimate of $2.84 by $0.09. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The company had revenue of $48.72 billion during the quarter, compared to the consensus estimate of $48.42 billion. During the same period in the previous year, the company posted $3.55 EPS. The firm’s revenue for the quarter was down 4.1% compared to the same quarter last year. As a group, analysts predict that Chevron Co. will post 13.58 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 17th will be issued a dividend of $1.63 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $6.52 annualized dividend and a yield of 3.93%. Chevron’s payout ratio is currently 57.39%.

Insider Buying and Selling

In related news, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total transaction of $448,252.00. Following the completion of the sale, the vice president now directly owns 276 shares of the company’s stock, valued at approximately $44,184.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.18% of the stock is currently owned by insiders.

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; 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.