Accelerate Investment Advisors LLC Invests $252,000 in Chevron Co. (NYSE:CVX)

by · The Cerbat Gem

Accelerate Investment Advisors LLC bought a new stake in Chevron Co. (NYSE:CVX – Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,709 shares of the oil and gas company’s stock, valued at approximately $252,000.

A number of other institutional investors also recently added to or reduced their stakes in the company. Eagle Capital Management LLC boosted its holdings in shares of Chevron by 0.5% in the 1st quarter. Eagle Capital Management LLC now owns 34,455 shares of the oil and gas company’s stock valued at $5,435,000 after buying an additional 163 shares in the last quarter. Lane & Associates LLC acquired a new position in Chevron during the first quarter worth approximately $345,000. KCM Investment Advisors LLC lifted its stake in Chevron by 2.5% in the first quarter. KCM Investment Advisors LLC now owns 331,550 shares of the oil and gas company’s stock valued at $52,299,000 after buying an additional 8,168 shares during the last quarter. Livelsberger Financial Advisory acquired a new stake in shares of Chevron in the fourth quarter valued at approximately $46,000. Finally, Hosking Partners LLP purchased a new position in shares of Chevron during the first quarter worth approximately $4,924,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

NYSE CVX opened at $150.50 on Monday. The business has a 50 day moving average price of $145.46 and a 200 day moving average price of $153.93. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85. The company has a market capitalization of $277.37 billion, a P/E ratio of 13.93, a PEG ratio of 2.72 and a beta of 1.09. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $170.17.

Chevron (NYSE:CVX – Get Free Report) last announced its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). Chevron had a net margin of 9.31% and a return on equity of 13.70%. The firm had revenue of $51.18 billion during the quarter, compared to analysts’ expectations of $48.68 billion. During the same quarter in the prior year, the business earned $3.08 EPS. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. Sell-side analysts expect that Chevron Co. will post 11.09 EPS for the current fiscal year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were issued a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 4.33%. The ex-dividend date was Monday, August 19th. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $170.00 price objective on shares of Chevron in a research report on Tuesday, October 8th. Truist Financial lowered their price target on Chevron from $154.00 to $150.00 and set a “hold” rating on the stock in a report on Monday, September 30th. UBS Group upped their price objective on Chevron from $189.00 to $192.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Barclays lowered their target price on Chevron from $185.00 to $168.00 and set an “overweight” rating on the stock in a research note on Thursday, October 3rd. Finally, Wells Fargo & Company cut their price target on Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research note on Friday, September 27th. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $176.81.

Check Out Our Latest Stock Analysis on Chevron

Chevron Profile

(Free Report)

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.

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