Accel Wealth Management trimmed its position in Chevron Co. (NYSE:CVX – Get Rating) by 20.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,107 shares of the oil and gas company’s stock after selling 781 shares during the period. Accel Wealth Management’s holdings in Chevron were worth $558,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its stake in Chevron by 1.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 14,697,160 shares of the oil and gas company’s stock worth $2,393,138,000 after purchasing an additional 189,762 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of Chevron by 16.3% in the second quarter. Legal & General Group Plc now owns 13,569,692 shares of the oil and gas company’s stock worth $1,964,620,000 after buying an additional 1,899,104 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Chevron by 7.6% during the third quarter. Dimensional Fund Advisors LP now owns 12,052,751 shares of the oil and gas company’s stock worth $1,731,739,000 after buying an additional 847,841 shares during the period. Nuveen Asset Management LLC grew its holdings in shares of Chevron by 1.6% during the third quarter. Nuveen Asset Management LLC now owns 9,953,548 shares of the oil and gas company’s stock valued at $1,430,026,000 after buying an additional 155,955 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in shares of Chevron by 4.1% in the 3rd quarter. Price T Rowe Associates Inc. MD now owns 7,762,782 shares of the oil and gas company’s stock valued at $1,115,281,000 after acquiring an additional 309,277 shares during the period. 69.37% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several analysts have weighed in on the company. Wells Fargo & Company dropped their price target on Chevron from $204.00 to $199.00 and set an “overweight” rating on the stock in a research note on Thursday, March 2nd. Piper Sandler lowered their price target on shares of Chevron from $206.00 to $199.00 and set an “overweight” rating on the stock in a report on Monday, December 19th. Morgan Stanley lowered their target price on Chevron from $195.00 to $192.00 and set an “equal weight” rating on the stock in a research note on Monday, March 27th. Mizuho reaffirmed a “neutral” rating and set a $206.00 target price on shares of Chevron in a report on Friday, March 17th. Finally, Barclays boosted their price target on Chevron from $196.00 to $212.00 and gave the company an “overweight” rating in a report on Tuesday, January 3rd. Eleven research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $189.76.
Insider Transactions at Chevron
Chevron Stock Performance
NYSE:CVX opened at $167.65 on Friday. The company has a fifty day moving average of $163.94 and a two-hundred day moving average of $169.83. Chevron Co. has a fifty-two week low of $132.54 and a fifty-two week high of $189.68. The stock has a market capitalization of $319.65 billion, a PE ratio of 9.17, a P/E/G ratio of 0.81 and a beta of 1.16. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.23 and a current ratio of 1.47.
Chevron (NYSE:CVX – Get Rating) last released its quarterly earnings results on Friday, January 27th. The oil and gas company reported $4.09 earnings per share for the quarter, missing the consensus estimate of $4.16 by ($0.07). Chevron had a return on equity of 23.52% and a net margin of 14.40%. The company had revenue of $56.47 billion for the quarter, compared to analyst estimates of $53.97 billion. During the same quarter last year, the company earned $2.56 EPS. The firm’s revenue for the quarter was up 17.1% on a year-over-year basis. As a group, research analysts forecast that Chevron Co. will post 14.56 earnings per share for the current fiscal year.
Chevron Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, March 10th. Stockholders of record on Thursday, February 16th were given a $1.51 dividend. This represents a $6.04 annualized dividend and a dividend yield of 3.60%. The ex-dividend date was Wednesday, February 15th. This is an increase from Chevron’s previous quarterly dividend of $1.42. Chevron’s dividend payout ratio (DPR) is 33.04%.
Chevron declared that its board has authorized a stock buyback program on Wednesday, January 25th that allows the company to repurchase $75.00 billion in outstanding shares. This repurchase authorization allows the oil and gas company to repurchase up to 21.7% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
Chevron Profile
Chevron Corp. engages in the provision of administrative, financial management, and technology support for energy and chemical operations. It operates through the Upstream and Downstream segments. The Upstream segment consists of the exploration, development, and production of crude oil and natural gas, the liquefaction, transportation, and regasification associated with liquefied natural gas, the transporting of crude oil by major international oil export pipelines, the processing, transporting, storage, and marketing of natural gas, and a gas-to-liquids plant.
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