Boothe Investment Group Inc. Purchases 2,394 Shares of Chevron Co. (NYSE:CVX)

Boothe Investment Group Inc. increased its stake in Chevron Co. (NYSE:CVX) by 6.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 41,746 shares of the oil and gas company’s stock after buying an additional 2,394 shares during the quarter. Chevron comprises approximately 2.6% of Boothe Investment Group Inc.’s holdings, making the stock its 16th largest holding. Boothe Investment Group Inc.’s holdings in Chevron were worth $6,046,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Pettinga Financial Advisors LLC lifted its position in shares of Chevron by 10.1% during the third quarter. Pettinga Financial Advisors LLC now owns 2,972 shares of the oil and gas company’s stock worth $438,000 after purchasing an additional 272 shares during the last quarter. Convergence Financial LLC lifted its position in shares of Chevron by 13.4% during the third quarter. Convergence Financial LLC now owns 9,723 shares of the oil and gas company’s stock worth $1,432,000 after purchasing an additional 1,149 shares during the last quarter. Signet Investment Advisory Group Inc. lifted its position in shares of Chevron by 8.4% during the third quarter. Signet Investment Advisory Group Inc. now owns 13,823 shares of the oil and gas company’s stock worth $2,036,000 after purchasing an additional 1,066 shares during the last quarter. Allworth Financial LP lifted its position in shares of Chevron by 4.7% during the third quarter. Allworth Financial LP now owns 259,440 shares of the oil and gas company’s stock worth $38,208,000 after purchasing an additional 11,549 shares during the last quarter. Finally, Parcion Private Wealth LLC lifted its position in shares of Chevron by 15.0% during the third quarter. Parcion Private Wealth LLC now owns 52,173 shares of the oil and gas company’s stock worth $7,684,000 after purchasing an additional 6,792 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors.

Chevron Price Performance

CVX opened at $156.92 on Monday. The business’s 50-day moving average is $151.97 and its two-hundred day moving average is $151.11. Chevron Co. has a 1 year low of $135.37 and a 1 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 capitalization of $282.00 billion, a PE ratio of 16.14, a price-to-earnings-growth ratio of 1.46 and a beta of 1.11.

Chevron (NYSE:CVX) last posted its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a net margin of 8.71% and a return on equity of 11.44%. During the same period in the previous year, the business posted $3.45 earnings per share. Research analysts anticipate that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be issued a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 4.36%. The ex-dividend date of this dividend is Friday, February 14th. This is an increase from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio (DPR) is currently 70.37%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Wells Fargo & Company decreased their target price on Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price for the company in a research report on Tuesday, November 5th. Barclays decreased their target price on Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a research report on Wednesday, February 5th. UBS Group cut their price target on Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd. Finally, Piper Sandler cut their price target on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, Chevron presently has an average rating of “Moderate Buy” and a consensus target price of $174.13.

Insiders Place Their Bets

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the firm’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $152.50, for a total value of $1,422,062.50. Following the completion of the sale, the vice president now owns 1,057 shares of the company’s stock, valued at approximately $161,192.50. This trade represents a 89.82 % 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 the SEC website. Corporate insiders own 0.20% of the company’s stock.

Chevron 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.