Accel Wealth Management Reduces Holdings in Chevron Co. (NYSE:CVX)

Accel Wealth Management lowered its stake in shares of Chevron Co. (NYSE:CVX) by 9.1% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 6,384 shares of the oil and gas company’s stock after selling 636 shares during the period. Accel Wealth Management’s holdings in Chevron were worth $925,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. International Assets Investment Management LLC lifted its stake in shares of Chevron by 19,404.1% in the 3rd quarter. International Assets Investment Management LLC now owns 4,901,390 shares of the oil and gas company’s stock valued at $7,218,280,000 after purchasing an additional 4,876,260 shares during the period. Pathway Financial Advisers LLC lifted its position in Chevron by 15,750.1% during the third quarter. Pathway Financial Advisers LLC now owns 3,901,345 shares of the oil and gas company’s stock valued at $574,551,000 after buying an additional 3,876,731 shares during the period. Pacer Advisors Inc. boosted its holdings in shares of Chevron by 949.6% during the 3rd quarter. Pacer Advisors Inc. now owns 3,819,963 shares of the oil and gas company’s stock valued at $562,566,000 after buying an additional 3,456,008 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Chevron by 11.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 31,108,760 shares of the oil and gas company’s stock worth $4,581,137,000 after buying an additional 3,203,899 shares during the period. Finally, State Street Corp increased its stake in shares of Chevron by 0.6% in the 3rd quarter. State Street Corp now owns 159,105,244 shares of the oil and gas company’s stock worth $23,431,429,000 after acquiring an additional 874,962 shares in the last quarter. 72.42% of the stock is owned by institutional investors.

Insider Buying and Selling at Chevron

In related news, CEO Michael K. Wirth sold 164,600 shares of the company’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the completion of the transaction, the chief executive officer now owns 4,280 shares in the company, valued at approximately $685,356.40. This represents a 97.47 % 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 this hyperlink. Insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

CVX has been the subject of several recent research reports. Raymond James lifted their target price on shares of Chevron from $175.00 to $180.00 and gave the company an “outperform” rating in a report on Friday, January 17th. Scotiabank dropped their target price on Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Truist Financial increased their target price on Chevron from $160.00 to $164.00 and gave the stock a “hold” rating in a research note on Monday, January 13th. Barclays upped their price target on shares of Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Finally, Royal Bank of Canada raised their price objective on shares of Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. Four investment 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 presently has a consensus rating of “Moderate Buy” and an average target price of $175.27.

Chevron Stock Performance

Shares of CVX opened at $155.62 on Friday. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.11. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The stock has a market cap of $279.66 billion, a price-to-earnings ratio of 17.10, a PEG ratio of 1.37 and a beta of 1.12. The business has a 50-day simple moving average of $153.81 and a two-hundred day simple moving average of $151.15.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, beating the consensus estimate of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The business had revenue of $50.67 billion for the quarter, compared to the consensus estimate of $48.86 billion. During the same quarter in the previous year, the firm earned $3.05 earnings per share. The company’s revenue for the quarter was down 6.3% on a year-over-year basis. On average, analysts expect that Chevron Co. will post 10.18 EPS for the current year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 18th were issued a $1.63 dividend. The ex-dividend date was Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a yield of 4.19%. Chevron’s dividend payout ratio is presently 71.65%.

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.