Chevron Co. (NYSE:CVX) Shares Purchased by Accel Wealth Management

Accel Wealth Management increased its holdings in shares of Chevron Co. (NYSE:CVX) by 7.1% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,735 shares of the oil and gas company’s stock after purchasing an additional 447 shares during the quarter. Accel Wealth Management’s holdings in Chevron were worth $1,062,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bare Financial Services Inc acquired a new stake in Chevron in the fourth quarter valued at approximately $27,000. Frank Rimerman Advisors LLC acquired a new stake in Chevron in the fourth quarter valued at approximately $30,000. Valued Wealth Advisors LLC purchased a new position in shares of Chevron during the 4th quarter valued at approximately $33,000. Cooksen Wealth LLC purchased a new position in shares of Chevron during the 4th quarter valued at approximately $40,000. Finally, Clear Investment Research LLC boosted its stake in shares of Chevron by 264.9% during the 4th quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock valued at $42,000 after buying an additional 204 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Buying and Selling

In related news, Director Enrique Hernandez, Jr. sold 2,549 shares of Chevron stock in a transaction dated 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 $4,581,279. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, VP Jeff B. Gustavson sold 3,750 shares of the stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $160.23, for a total value of $600,862.50. Following the completion of the transaction, the vice president now owns 477 shares in the company, valued at approximately $76,429.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Enrique Hernandez, Jr. sold 2,549 shares of the firm’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $165.24, for a total value of $421,196.76. Following the sale, the director now owns 27,725 shares of the company’s stock, valued at $4,581,279. The disclosure for this sale can be found here. Insiders have sold a total of 16,746 shares of company stock valued at $2,727,971 over the last three months. Company insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Truist Financial raised their price objective on Chevron from $156.00 to $166.00 and gave the stock a “hold” rating in a research note on Friday, May 10th. Raymond James raised their price objective on Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a research note on Monday, April 15th. UBS Group raised their price objective on Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a research note on Tuesday, April 9th. HSBC raised their price objective on Chevron from $175.00 to $178.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th. Finally, Piper Sandler raised their price objective on Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a research note on Thursday, April 18th. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Chevron has an average rating of “Moderate Buy” and a consensus target price of $186.95.

Chevron Price Performance

Shares of CVX opened at $156.71 on Friday. The firm has a market capitalization of $288.81 billion, a price-to-earnings ratio of 14.42, a price-to-earnings-growth ratio of 2.38 and a beta of 1.10. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.93 and a current ratio of 1.23. Chevron Co. has a one year low of $139.62 and a one year high of $171.70. The stock’s fifty day moving average is $158.68 and its 200-day moving average is $154.90.

Chevron (NYSE:CVX) last released its earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 return on equity of 14.40% and a net margin of 10.21%. Chevron’s revenue was down 4.1% compared to the same quarter last year. During the same period in the previous year, the company earned $3.55 earnings per share. Equities analysts anticipate that Chevron Co. will post 13.15 EPS for the current year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 17th were issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 4.16%. The ex-dividend date was Thursday, May 16th. Chevron’s payout ratio is currently 59.98%.

Chevron Company 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.