Chevron Co. (NYSE:CVX) Shares Sold by Accordant Advisory Group Inc

Accordant Advisory Group Inc decreased its position in Chevron Co. (NYSE:CVX) by 1.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 14,816 shares of the oil and gas company’s stock after selling 267 shares during the period. Chevron makes up approximately 2.2% of Accordant Advisory Group Inc’s holdings, making the stock its 15th biggest position. Accordant Advisory Group Inc’s holdings in Chevron were worth $2,318,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in CVX. American Capital Advisory LLC grew its holdings in Chevron by 403.2% during the first quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 125 shares during the period. Bare Financial Services Inc bought a new stake in shares of Chevron in the 4th quarter worth approximately $27,000. Frank Rimerman Advisors LLC acquired a new stake in Chevron during the fourth quarter valued at approximately $30,000. Cooksen Wealth LLC bought a new stake in Chevron during the fourth quarter worth approximately $40,000. Finally, Clear Investment Research LLC increased its holdings in shares of Chevron by 264.9% in the fourth 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 in the last quarter. Institutional investors own 72.42% of the company’s stock.

Insiders Place Their Bets

In related news, VP Jeff B. Gustavson sold 3,750 shares of the firm’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $160.23, for a total value of $600,862.50. Following the transaction, the vice president now directly owns 477 shares in the company, valued at approximately $76,429.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Wells Fargo & Company lifted their target price on Chevron from $198.00 to $206.00 and gave the stock an “overweight” rating in a report on Tuesday, April 30th. Royal Bank of Canada cut their price objective on Chevron from $190.00 to $180.00 and set an “outperform” rating on the stock in a report on Monday, August 5th. Sanford C. Bernstein downgraded shares of Chevron from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $183.00 to $167.00 in a research report on Wednesday, July 17th. Barclays reduced their price target on shares of Chevron from $203.00 to $185.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th. Finally, Truist Financial lowered their price objective on shares of Chevron from $156.00 to $154.00 and set a “hold” rating on the stock in a research report on Monday, August 5th. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $183.82.

Chevron Stock Up 0.3 %

NYSE CVX traded up $0.47 during trading on Friday, reaching $147.27. The company’s stock had a trading volume of 6,874,416 shares, compared to its average volume of 7,867,067. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $271.41 billion, a PE ratio of 13.55, a PEG ratio of 2.42 and a beta of 1.10. Chevron Co. has a 1-year low of $139.62 and a 1-year high of $171.70. The business has a 50-day moving average price of $153.82 and a 200-day moving average price of $155.96.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). The business had revenue of $51.18 billion during the quarter, compared to the consensus estimate of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.08 earnings per share. On average, research analysts forecast that Chevron Co. will post 11.96 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th will be given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 4.43%. The ex-dividend date of this dividend is Monday, August 19th. Chevron’s payout ratio is 59.98%.

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.