Boltwood Capital Management Sells 210 Shares of Chevron Co. (NYSE:CVX)

Boltwood Capital Management reduced its holdings in shares of Chevron Co. (NYSE:CVX) by 0.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 22,738 shares of the oil and gas company’s stock after selling 210 shares during the quarter. Chevron accounts for about 1.1% of Boltwood Capital Management’s holdings, making the stock its 23rd biggest holding. Boltwood Capital Management’s holdings in Chevron were worth $3,587,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Octavia Wealth Advisors LLC grew its position in shares of Chevron by 1.3% during the fourth quarter. Octavia Wealth Advisors LLC now owns 5,254 shares of the oil and gas company’s stock valued at $784,000 after purchasing an additional 68 shares in the last quarter. Investment Partners LTD. lifted its holdings in shares of Chevron by 0.8% in the 4th quarter. Investment Partners LTD. now owns 8,124 shares of the oil and gas company’s stock valued at $1,212,000 after acquiring an additional 68 shares during the last quarter. Certified Advisory Corp lifted its holdings in shares of Chevron by 0.4% in the 4th quarter. Certified Advisory Corp now owns 16,120 shares of the oil and gas company’s stock valued at $2,404,000 after acquiring an additional 68 shares during the last quarter. Beaird Harris Wealth Management LLC lifted its holdings in shares of Chevron by 2.1% in the 4th quarter. Beaird Harris Wealth Management LLC now owns 3,415 shares of the oil and gas company’s stock valued at $509,000 after acquiring an additional 69 shares during the last quarter. Finally, ACT Wealth Management LLC lifted its holdings in shares of Chevron by 1.7% in the 4th quarter. ACT Wealth Management LLC now owns 4,300 shares of the oil and gas company’s stock valued at $641,000 after acquiring an additional 70 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Chevron news, Director Enrique Hernandez, Jr. sold 5,098 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $163.50, for a total value of $833,523.00. Following the sale, the director now owns 2,549 shares of the company’s stock, valued at $416,761.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Enrique Hernandez, Jr. sold 5,098 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $163.50, for a total value of $833,523.00. Following the completion of the transaction, the director now owns 2,549 shares of the company’s stock, valued at $416,761.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Enrique Hernandez, Jr. sold 2,549 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $165.24, for a total transaction of $421,196.76. Following the transaction, the director now directly owns 27,725 shares of the company’s stock, valued at approximately $4,581,279. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,546 shares of company stock valued at $3,176,223. Corporate insiders own 0.20% of the company’s stock.

Chevron Price Performance

Chevron stock opened at $153.33 on Thursday. The stock has a market cap of $282.58 billion, a P/E ratio of 14.11, a price-to-earnings-growth ratio of 2.28 and a beta of 1.12. The company has a fifty day simple moving average of $159.43 and a 200-day simple moving average of $154.04. Chevron Co. has a 12-month low of $139.62 and a 12-month high of $171.70. The company has a current ratio of 1.23, a quick ratio of 0.93 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last announced its quarterly 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. The firm had revenue of $48.72 billion for the quarter, compared to analyst estimates of $48.42 billion. Chevron had a net margin of 10.21% and a return on equity of 14.40%. Chevron’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same period last year, the business earned $3.55 EPS. Equities analysts expect that Chevron Co. will post 13.45 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 17th were paid a dividend of $1.63 per share. The ex-dividend date was Thursday, May 16th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.25%. Chevron’s dividend payout ratio (DPR) is 59.98%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on CVX shares. TD Cowen increased their price target on shares of Chevron from $155.00 to $160.00 and gave the company a “hold” rating in a report on Monday, April 29th. HSBC raised their price objective on shares of Chevron from $175.00 to $178.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th. Scotiabank raised shares of Chevron from a “sector perform” rating to a “sector outperform” rating and raised their price objective for the stock from $170.00 to $195.00 in a research note on Thursday, April 11th. Wells Fargo & Company raised their price objective on shares of Chevron from $198.00 to $206.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 30th. Finally, Mizuho raised their price objective on shares of Chevron from $200.00 to $205.00 and gave the stock a “buy” rating in a research note on Monday, May 13th. Five research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, Chevron presently has an average rating of “Moderate Buy” and a consensus price target of $186.95.

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.