Boston Trust Walden Corp Sells 1,101 Shares of Chevron Co. (NYSE:CVX)

Boston Trust Walden Corp lowered its stake in Chevron Co. (NYSE:CVX) by 0.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 133,413 shares of the oil and gas company’s stock after selling 1,101 shares during the quarter. Boston Trust Walden Corp’s holdings in Chevron were worth $19,324,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in CVX. EQ Wealth Advisors LLC bought a new position in Chevron during the 4th quarter worth about $288,000. Jennison Associates LLC raised its holdings in shares of Chevron by 11.0% in the fourth quarter. Jennison Associates LLC now owns 499,316 shares of the oil and gas company’s stock valued at $72,321,000 after purchasing an additional 49,633 shares during the last quarter. Leisure Capital Management lifted its position in shares of Chevron by 138.2% in the fourth quarter. Leisure Capital Management now owns 7,509 shares of the oil and gas company’s stock worth $1,088,000 after purchasing an additional 4,357 shares in the last quarter. Lazari Capital Management Inc. grew its position in Chevron by 7.4% in the fourth quarter. Lazari Capital Management Inc. now owns 4,507 shares of the oil and gas company’s stock valued at $653,000 after purchasing an additional 312 shares in the last quarter. Finally, Resonant Capital Advisors LLC boosted its stake in shares of Chevron by 3.1% during the 4th quarter. Resonant Capital Advisors LLC now owns 34,230 shares of the oil and gas company’s stock worth $4,958,000 after buying an additional 1,027 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Scotiabank cut their price objective on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Truist Financial increased their price target on shares of Chevron from $160.00 to $164.00 and gave the company a “hold” rating in a research note on Monday, January 13th. Bank of America began coverage on shares of Chevron in a research note on Thursday, October 17th. They set a “buy” rating and a $168.00 price objective on the stock. Piper Sandler cut their target price on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $175.00 price target on shares of Chevron in a research report on Monday. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, Chevron has a consensus rating of “Moderate Buy” and an average target price of $174.60.

Insider Buying and Selling

In other news, CEO Michael K. Wirth sold 164,600 shares of the company’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the completion of the sale, the chief executive officer now directly owns 4,280 shares in the company, valued at approximately $685,356.40. This represents a 97.47 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.20% of the stock is currently owned by company insiders.

Chevron Stock Performance

Shares of NYSE CVX opened at $149.39 on Tuesday. Chevron Co. has a one year low of $135.37 and a one year high of $167.11. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The firm has a market cap of $268.46 billion, a price-to-earnings ratio of 15.37, a P/E/G ratio of 1.29 and a beta of 1.12. The stock’s fifty day moving average price is $153.19 and its two-hundred day moving average price is $151.02.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.36). Chevron had a return on equity of 11.44% and a net margin of 8.71%. During the same quarter in the prior year, the business earned $3.45 EPS. On average, equities analysts forecast that Chevron Co. will post 11.45 EPS for the current year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be given a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.58%. This is an increase from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Friday, February 14th. Chevron’s payout ratio is presently 70.37%.

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.