Accel Wealth Management Has $938,000 Position in Chevron Co. (NYSE:CVX)

Accel Wealth Management raised its stake in shares of Chevron Co. (NYSE:CVX) by 5.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,288 shares of the oil and gas company’s stock after buying an additional 349 shares during the period. Accel Wealth Management’s holdings in Chevron were worth $938,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in CVX. Moneta Group Investment Advisors LLC grew its stake in shares of Chevron by 104,997.3% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 24,490,824 shares of the oil and gas company’s stock worth $4,395,858,000 after acquiring an additional 24,467,521 shares during the last quarter. Norges Bank acquired a new position in Chevron in the 4th quarter valued at approximately $3,058,235,000. Imprint Wealth LLC grew its holdings in shares of Chevron by 15,457.0% during the 2nd quarter. Imprint Wealth LLC now owns 5,378,354 shares of the oil and gas company’s stock worth $537,835,000 after purchasing an additional 5,343,782 shares in the last quarter. Morgan Stanley raised its stake in shares of Chevron by 12.7% in the fourth quarter. Morgan Stanley now owns 32,906,060 shares of the oil and gas company’s stock valued at $5,906,309,000 after purchasing an additional 3,711,923 shares in the last quarter. Finally, Lazard Asset Management LLC lifted its holdings in shares of Chevron by 570.0% during the 4th quarter. Lazard Asset Management LLC now owns 2,813,051 shares of the oil and gas company’s stock worth $504,913,000 after acquiring an additional 2,393,200 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Royal Bank of Canada raised their target price on Chevron from $185.00 to $190.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. DZ Bank lowered shares of Chevron from a “buy” rating to a “hold” rating and set a $160.00 target price on the stock. in a report on Tuesday, February 6th. Piper Sandler cut their price target on shares of Chevron from $188.00 to $180.00 and set an “overweight” rating for the company in a report on Thursday, March 14th. Mizuho lifted their price target on Chevron from $195.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. Finally, TD Cowen lowered shares of Chevron from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $170.00 to $150.00 in a research report on Tuesday, January 23rd. Seven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Chevron presently has an average rating of “Moderate Buy” and an average price target of $180.39.

Chevron Stock Up 0.9 %

Shares of Chevron stock traded up $1.39 during trading hours on Thursday, reaching $157.74. 8,244,187 shares of the company’s stock were exchanged, compared to its average volume of 8,777,244. The company has a 50 day moving average of $151.60 and a two-hundred day moving average of $152.67. Chevron Co. has a fifty-two week low of $139.62 and a fifty-two week high of $172.88. The company has a current ratio of 1.27, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. The stock has a market cap of $292.97 billion, a P/E ratio of 13.90, a P/E/G ratio of 2.38 and a beta of 1.12.

Chevron (NYSE:CVX) last issued its earnings results on Friday, February 2nd. The oil and gas company reported $3.45 EPS for the quarter, topping the consensus estimate of $3.19 by $0.26. The company had revenue of $47.18 billion during the quarter, compared to the consensus estimate of $50.93 billion. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The firm’s revenue for the quarter was down 16.5% compared to the same quarter last year. During the same period in the previous year, the company posted $4.09 EPS. On average, sell-side analysts forecast that Chevron Co. will post 13.04 EPS for the current fiscal year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Friday, February 16th were paid a $1.63 dividend. This is an increase from Chevron’s previous quarterly dividend of $1.51. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.13%. The ex-dividend date was Thursday, February 15th. Chevron’s dividend payout ratio (DPR) is presently 57.39%.

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.